Peakstone Realty Trust (NYSE:PKST) Sets New 1-Year High - Here's What Happened

Key Points

• 52-week high: Peakstone Realty Trust hit a new 52-week high of $20.97 on Friday (last trade $20.9650) on volume of 493,011 shares.
• Analyst stance: The consensus rating is Reduce with a $21 consensus price target—several shops raised targets to $21 even as Truist and UBS downgraded to Hold/Neutral and Weiss Ratings remains a Sell.
• Weak fundamentals: The company reported Q4 EPS of -$0.35 (missing estimates by $0.66) and revenue of $25.99M (below $28.57M), with negative ROE and net margin signaling profitability concerns despite the share price strength.

Peakstone Realty Trust (NYSE:PKST - Get Free Report)'s share price hit a new 52-week high on Friday . The stock traded as high as $20.97 and last traded at $20.9650, with a volume of 493011 shares trading hands. The stock had previously closed at $20.95.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Truist Financial lowered Peakstone Realty Trust from a "buy" rating to a "hold" rating and upped their price objective for the company from $19.00 to $21.00 in a report on Tuesday, February 3rd. Weiss Ratings restated a "sell (d-)" rating on shares of Peakstone Realty Trust in a report on Thursday, January 22nd. Finally, UBS Group lowered Peakstone Realty Trust from a "buy" rating to a "neutral" rating and upped their price objective for the company from $17.00 to $21.00 in a report on Monday, February 2nd. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Peakstone Realty Trust presently has an average rating of "Reduce" and a consensus price target of $21.00.

Peakstone Realty Trust Stock Up 0.1%

The business has a 50-day moving average price of $20.87 and a 200-day moving average price of $16.76. The company has a market capitalization of $779.48 million, a price-to-earnings ratio of -2.50 and a beta of 1.33. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.61.

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

Institutional Investors Weigh In On Peakstone Realty Trust

Institutional investors and hedge funds have recently modified their holdings of the stock. Assetmark Inc. raised its position in shares of Peakstone Realty Trust by 2,542.3% during the third quarter. Assetmark Inc. now owns 1,876 shares of the company's stock worth $25,000 after purchasing an additional 1,805 shares during the period. Farther Finance Advisors LLC raised its position in Peakstone Realty Trust by 101.4% during the third quarter. Farther Finance Advisors LLC now owns 2,000 shares of the company's stock valued at $26,000 after buying an additional 1,007 shares during the period. Financial Life Planners acquired a new position in Peakstone Realty Trust during the third quarter valued at $44,000. Versant Capital Management Inc raised its position in Peakstone Realty Trust by 1,588.6% during the third quarter. Versant Capital Management Inc now owns 3,546 shares of the company's stock valued at $47,000 after buying an additional 3,336 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in Peakstone Realty Trust by 209.8% during the second quarter. Tower Research Capital LLC TRC now owns 3,767 shares of the company's stock valued at $50,000 after buying an additional 2,551 shares during the period. 38.98% of the stock is owned by institutional investors and hedge funds.

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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