Voya Investment Management LLC Sells 36,295 Shares of Peakstone Realty Trust $PKST

Key Points

• Voya Investment Management LLC has reduced its holdings in Peakstone Realty Trust by 19.6% to 148,466 shares, following the sale of 36,295 shares in Q1.
• Several other institutional investors have increased their stakes, with Charles Schwab Investment Management notably boosting its position by 69.3%.
• Peakstone Realty Trust has announced a quarterly dividend of $0.10 per share, resulting in an annualized yield of 2.9%, while having a negative dividend payout ratio of -4.50%.

Voya Investment Management LLC decreased its position in Peakstone Realty Trust (NYSE:PKST - Free Report) by 19.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 148,466 shares of the company's stock after selling 36,295 shares during the quarter. Voya Investment Management LLC owned 0.40% of Peakstone Realty Trust worth $1,871,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PKST. Ameriprise Financial Inc. raised its stake in Peakstone Realty Trust by 50.0% during the 4th quarter. Ameriprise Financial Inc. now owns 19,810 shares of the company's stock valued at $220,000 after acquiring an additional 6,602 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Peakstone Realty Trust during the 4th quarter valued at $188,000. Bank of America Corp DE increased its position in shares of Peakstone Realty Trust by 35.1% during the 4th quarter. Bank of America Corp DE now owns 47,640 shares of the company's stock valued at $527,000 after purchasing an additional 12,378 shares during the period. D. E. Shaw & Co. Inc. increased its position in shares of Peakstone Realty Trust by 200.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 45,336 shares of the company's stock valued at $502,000 after purchasing an additional 30,235 shares during the period. Finally, Deutsche Bank AG increased its position in shares of Peakstone Realty Trust by 58.0% during the 4th quarter. Deutsche Bank AG now owns 31,461 shares of the company's stock valued at $348,000 after purchasing an additional 11,554 shares during the period. Institutional investors own 38.98% of the company's stock.

Peakstone Realty Trust Stock Performance

Peakstone Realty Trust stock traded up $0.05 during trading hours on Monday, hitting $13.73. The stock had a trading volume of 119,804 shares, compared to its average volume of 180,749. Peakstone Realty Trust has a fifty-two week low of $10.14 and a fifty-two week high of $15.34. The company has a market cap of $505.13 million, a PE ratio of 5.41 and a beta of 1.76. The company has a 50-day moving average of $13.26 and a two-hundred day moving average of $12.74. The company has a quick ratio of 5.02, a current ratio of 5.02 and a debt-to-equity ratio of 1.61.

Peakstone Realty Trust Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Tuesday, September 30th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Tuesday, September 30th. Peakstone Realty Trust's dividend payout ratio (DPR) is presently -10.12%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Truist Financial upgraded Peakstone Realty Trust from a "hold" rating to a "buy" rating and lifted their price target for the company from $16.00 to $19.00 in a research report on Wednesday, September 3rd. Zacks Research cut Peakstone Realty Trust from a "hold" rating to a "strong sell" rating in a report on Monday, September 15th. Finally, UBS Group lifted their target price on Peakstone Realty Trust from $15.00 to $16.00 and gave the stock a "buy" rating in a report on Friday, August 15th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $17.50.

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.