TCW Group Inc. Invests $1.72 Million in Peakstone Realty Trust (NYSE:PKST)

Key Points

• TCW Group Inc. has invested approximately $1.72 million in Peakstone Realty Trust, acquiring 136,235 shares during the first quarter.
• Multiple institutional investors have increased their stakes in Peakstone Realty Trust, with 38.98% of the stock now owned by such entities.
• The company recently announced a quarterly dividend of $0.225 per share, representing an annualized yield of 6.51%.

TCW Group Inc. acquired a new position in shares of Peakstone Realty Trust (NYSE:PKST - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 136,235 shares of the company's stock, valued at approximately $1,717,000. TCW Group Inc. owned 0.37% of Peakstone Realty Trust at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PKST. Raymond James Financial Inc. acquired a new stake in shares of Peakstone Realty Trust during the 4th quarter worth approximately $145,000. Commonwealth Equity Services LLC grew its stake in Peakstone Realty Trust by 18.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 117,855 shares of the company's stock valued at $1,305,000 after acquiring an additional 18,212 shares during the period. Quantbot Technologies LP acquired a new stake in Peakstone Realty Trust in the 4th quarter valued at $89,000. KLP Kapitalforvaltning AS acquired a new stake in Peakstone Realty Trust in the 4th quarter valued at $72,000. Finally, JPMorgan Chase & Co. grew its stake in Peakstone Realty Trust by 64.0% in the 4th quarter. JPMorgan Chase & Co. now owns 207,463 shares of the company's stock valued at $2,297,000 after acquiring an additional 80,980 shares during the period. Institutional investors and hedge funds own 38.98% of the company's stock.

Peakstone Realty Trust Price Performance

Peakstone Realty Trust stock traded down $0.03 during trading on Friday, reaching $13.57. The company had a trading volume of 65,026 shares, compared to its average volume of 182,606. The firm's 50-day simple moving average is $13.28 and its 200 day simple moving average is $12.18. The company has a debt-to-equity ratio of 1.25, a quick ratio of 3.81 and a current ratio of 3.81. The firm has a market capitalization of $498.93 million, a PE ratio of -7.65 and a beta of 1.74. Peakstone Realty Trust has a 1-year low of $10.14 and a 1-year high of $16.26.

Peakstone Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Monday, June 30th were issued a $0.225 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.90 dividend on an annualized basis and a yield of 6.6%. Peakstone Realty Trust's dividend payout ratio (DPR) is presently -50.85%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PKST shares. Truist Financial lifted their price target on shares of Peakstone Realty Trust from $15.00 to $16.00 and gave the company a "hold" rating in a research note on Tuesday, June 3rd. UBS Group lifted their price target on shares of Peakstone Realty Trust from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th.

About Peakstone Realty Trust

Peakstone Realty Trust NYSE: PKST is an internally managed, real estate investment trust (REIT) that owns and operates a high-quality, newer-vintage portfolio of predominantly single-tenant industrial and office properties. These assets are generally leased to creditworthy tenants under long-term net lease agreements with contractual rent escalations.