Peakstone Realty Trust (NYSE:PKST) Given New $16.00 Price Target at UBS Group

Key Points

• UBS Group has raised its price target for Peakstone Realty Trust (NYSE:PKST) from $15.00 to $16.00, indicating a potential upside of 31.15% from the stock's previous close.
• Truist Financial also increased its price objective for Peakstone Realty Trust to $16.00, while maintaining a "hold" rating.
• The stock recently traded at $12.20, with a market capitalization of approximately $448.59 million and heavy interest from institutional investors set at 38.98% ownership.

Peakstone Realty Trust (NYSE:PKST - Free Report) had its price target upped by UBS Group from $15.00 to $16.00 in a report issued on Friday,Benzinga reports. UBS Group currently has a buy rating on the stock.

Separately, Truist Financial raised their price objective on Peakstone Realty Trust from $15.00 to $16.00 and gave the stock a "hold" rating in a report on Tuesday, June 3rd. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $16.00.

Peakstone Realty Trust Stock Down 0.4%

Peakstone Realty Trust stock traded down $0.05 during midday trading on Friday, reaching $12.52. The company's stock had a trading volume of 98,512 shares, compared to its average volume of 187,252. Peakstone Realty Trust has a fifty-two week low of $10.14 and a fifty-two week high of $16.26. The company has a quick ratio of 5.02, a current ratio of 5.02 and a debt-to-equity ratio of 1.61. The company has a market cap of $460.61 million, a P/E ratio of -1.41 and a beta of 1.76. The business has a 50-day simple moving average of $13.34 and a 200-day simple moving average of $12.36.

Hedge Funds Weigh In On Peakstone Realty Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in PKST. Conversant Capital LLC purchased a new position in shares of Peakstone Realty Trust during the second quarter worth about $15,652,000. Invesco Ltd. boosted its holdings in Peakstone Realty Trust by 458.1% in the 4th quarter. Invesco Ltd. now owns 675,048 shares of the company's stock valued at $7,473,000 after purchasing an additional 554,091 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Peakstone Realty Trust by 69.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 615,268 shares of the company's stock worth $7,752,000 after acquiring an additional 251,858 shares in the last quarter. TCW Group Inc. purchased a new stake in shares of Peakstone Realty Trust during the 1st quarter worth approximately $1,717,000. Finally, Nuveen LLC purchased a new stake in shares of Peakstone Realty Trust during the 1st quarter worth approximately $1,166,000. Hedge funds and other institutional investors own 38.98% of the company's stock.

Peakstone Realty Trust Company 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.