K2 Principal Fund L.P. Purchases New Shares in Peakstone Realty Trust (NYSE:PKST)

K2 Principal Fund L.P. acquired a new stake in shares of Peakstone Realty Trust (NYSE:PKST - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 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 reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in shares of Peakstone Realty Trust by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 929,777 shares of the company's stock worth $10,295,000 after purchasing an additional 7,139 shares during the period. Invesco Ltd. lifted its position in shares of Peakstone Realty Trust by 458.1% in the 4th quarter. Invesco Ltd. now owns 675,048 shares of the company's stock worth $7,473,000 after purchasing an additional 554,091 shares during the period. Northern Trust Corp lifted its position in shares of Peakstone Realty Trust by 16.4% in the 4th quarter. Northern Trust Corp now owns 370,451 shares of the company's stock worth $4,101,000 after purchasing an additional 52,119 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Peakstone Realty Trust by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 363,410 shares of the company's stock worth $4,023,000 after purchasing an additional 12,403 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Peakstone Realty Trust by 64.0% during the fourth 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 last quarter. Institutional investors own 38.98% of the company's stock.

Wall Street Analysts Forecast Growth

PKST has been the subject of a number of analyst reports. UBS Group increased their target price on shares of Peakstone Realty Trust from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Tuesday. Truist Financial increased their target price on shares of Peakstone Realty Trust from $13.00 to $15.00 and gave the company a "hold" rating in a research report on Monday, March 24th.

Peakstone Realty Trust Stock Performance

Shares of NYSE:PKST traded up $0.14 during midday trading on Friday, reaching $12.44. The company's stock had a trading volume of 154,681 shares, compared to its average volume of 183,840. The firm has a market capitalization of $457.09 million, a PE ratio of -44.41 and a beta of 1.73. Peakstone Realty Trust has a twelve month low of $9.89 and a twelve month high of $16.26. The stock has a fifty day moving average of $12.05 and a 200 day moving average of $11.89. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 1.03.

Peakstone Realty Trust (NYSE:PKST - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of ($0.20) by $0.85. The firm had revenue of $57.93 million for the quarter, compared to analyst estimates of $54.68 million. Peakstone Realty Trust had a negative net margin of 4.38% and a negative return on equity of 0.85%. On average, equities analysts expect that Peakstone Realty Trust will post 2.13 EPS for the current fiscal year.

Peakstone Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Monday, June 30th will be paid a $0.225 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 7.24%. Peakstone Realty Trust's payout ratio is currently -50.85%.

Peakstone Realty Trust Profile

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.