K2 Principal Fund L.P. Makes New $430,000 Investment in Peakstone Realty Trust (NYSE:PKST)

K2 Principal Fund L.P. bought a new position in shares of Peakstone Realty Trust (NYSE:PKST - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 38,809 shares of the company's stock, valued at approximately $430,000. K2 Principal Fund L.P. owned approximately 0.11% of Peakstone Realty Trust at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Geode Capital Management LLC lifted its holdings in shares of Peakstone Realty Trust by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 929,777 shares of the company's stock valued at $10,295,000 after purchasing an additional 7,139 shares in the last quarter. Invesco Ltd. increased its position in Peakstone Realty Trust by 458.1% during the fourth quarter. Invesco Ltd. now owns 675,048 shares of the company's stock worth $7,473,000 after buying an additional 554,091 shares in the last quarter. Northern Trust Corp lifted its position in shares of Peakstone Realty Trust by 16.4% in the fourth quarter. Northern Trust Corp now owns 370,451 shares of the company's stock valued at $4,101,000 after acquiring an additional 52,119 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Peakstone Realty Trust by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 363,410 shares of the company's stock valued at $4,023,000 after acquiring an additional 12,403 shares during the last quarter. Finally, JPMorgan Chase & Co. raised 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 purchasing an additional 80,980 shares during the last quarter. 38.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Truist Financial lifted their target price on shares of Peakstone Realty Trust from $13.00 to $15.00 and gave the stock a "hold" rating in a research note on Monday, March 24th. UBS Group raised their price target on Peakstone Realty Trust from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Tuesday.

Peakstone Realty Trust Trading Down 0.5%

PKST stock traded down $0.07 during midday trading on Wednesday, reaching $11.97. 4,221 shares of the company's stock traded hands, compared to its average volume of 183,150. The company has a debt-to-equity ratio of 1.03, a current ratio of 5.24 and a quick ratio of 5.24. Peakstone Realty Trust has a fifty-two week low of $9.89 and a fifty-two week high of $16.26. The business has a 50-day moving average price of $12.04 and a two-hundred day moving average price of $11.90. The company has a market capitalization of $439.77 million, a P/E ratio of -42.73 and a beta of 1.73.

Peakstone Realty Trust (NYSE:PKST - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.85. Peakstone Realty Trust had a negative return on equity of 0.85% and a negative net margin of 4.38%. The firm had revenue of $57.93 million during the quarter, compared to the consensus estimate of $54.68 million. Equities research analysts forecast that Peakstone Realty Trust will post 2.13 EPS for the current fiscal year.

Peakstone Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Monday, June 30th will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 7.52%. The ex-dividend date is Monday, June 30th. Peakstone Realty Trust's dividend payout ratio is presently -50.85%.

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.