Peakstone Realty Trust (NYSE:PKST) Hits New 52-Week High - Time to Buy?

Key Points

• Peakstone Realty Trust hit a new 52-week high of $20.99 on Thursday, trading about 761,970 shares, with a market cap near $780 million and 50/200-day moving averages of $20.88 and $17.00 respectively.
• Analyst sentiment is cautious: Truist and UBS downgraded the stock to hold/neutral and Weiss reiterated a sell, leaving a MarketBeat consensus rating of Reduce with a $21.00 target price.
• Fundamentals are weak—Q4 reported EPS was −$0.35 vs. a $0.31 estimate and revenue missed consensus, with negative net margin and ROE—yet institutional investors have increased positions and institutions now own about 38.98% of the stock.

Peakstone Realty Trust (NYSE:PKST - Get Free Report)'s share price hit a new 52-week high on Thursday . The stock traded as high as $20.99 and last traded at $20.9810, with a volume of 761970 shares changing hands. The stock had previously closed at $20.97.

Wall Street Analysts Forecast Growth

PKST has been the topic of several recent analyst reports. Truist Financial downgraded Peakstone Realty Trust from a "buy" rating to a "hold" rating and lifted their target price for the company from $19.00 to $21.00 in a research note on Tuesday, February 3rd. UBS Group cut Peakstone Realty Trust from a "buy" rating to a "neutral" rating and lifted their price target for the company from $17.00 to $21.00 in a research report on Monday, February 2nd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Peakstone Realty Trust in a research report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Reduce" and a consensus target price of $21.00.

Peakstone Realty Trust Trading Up 0.1%

The company has a market capitalization of $780.07 million, a price-to-earnings ratio of -2.50 and a beta of 1.33. The firm has a 50-day moving average price of $20.88 and a 200-day moving average price of $17.00. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.61.

Peakstone Realty Trust (NYSE:PKST - Get Free Report) last issued its quarterly earnings results on Wednesday, February 18th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.66). The firm had revenue of $25.99 million for the quarter, compared to analyst estimates of $28.57 million. Peakstone Realty Trust had a negative net margin of 189.03% and a negative return on equity of 39.44%.

Institutional Investors Weigh In On Peakstone Realty Trust

Several large investors have recently modified their holdings of PKST. Conversant Capital LLC bought a new stake in shares of Peakstone Realty Trust during the 2nd quarter worth $15,652,000. Irenic Capital Management LP bought a new stake in shares of Peakstone Realty Trust during the 4th quarter worth $4,833,000. Strs Ohio boosted its stake in shares of Peakstone Realty Trust by 169.7% during the 4th quarter. Strs Ohio now owns 460,600 shares of the company's stock worth $6,610,000 after acquiring an additional 289,800 shares in the last quarter. J. Goldman & Co LP boosted its stake in shares of Peakstone Realty Trust by 26.7% during the 4th quarter. J. Goldman & Co LP now owns 952,107 shares of the company's stock worth $13,663,000 after acquiring an additional 200,708 shares in the last quarter. Finally, Credit Industriel ET Commercial bought a new stake in shares of Peakstone Realty Trust during the 1st quarter worth $3,760,000. 38.98% of the stock is owned by institutional investors.

Peakstone Realty Trust Company Profile

Peakstone Realty Trust, Inc NYSE: PKST is a publicly traded real estate investment trust focused on the acquisition, ownership and operation of necessity-based retail and distribution properties. The company specializes in grocery-anchored shopping centers, community and neighborhood retail assets, and a growing portfolio of cold storage and distribution facilities. Peakstone generates rental income under long-term leases with a mix of national grocers, drugstore chains and logistics tenants.

Peakstone’s retail portfolio is anchored by investment-grade tenants in densely populated trade areas, providing tenants with essential goods and services and supporting resilient occupancy and cash flow.

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