Peakstone Realty Trust (NYSE:PKST) Upgraded by Truist Financial to Buy Rating

Key Points

• Peakstone Realty Trust (NYSE:PKST) received a rating upgrade from Truist Financial from "hold" to "buy," with a new price target of $19.00, indicating a potential upside of 51.76% from its previous close.
• UBS Group also rated the stock as "buy," raising its target price to $16.00, contributing to a consensus "buy" rating and an average price target of $17.50.
• Institutional ownership of Peakstone Realty Trust stands at 38.98%, with several hedge funds increasing their positions in the company during the second quarter.

Peakstone Realty Trust (NYSE:PKST - Get Free Report) was upgraded by equities researchers at Truist Financial from a "hold" rating to a "buy" rating in a note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage currently has a $19.00 target price on the stock, up from their prior target price of $16.00. Truist Financial's price target would indicate a potential upside of 39.99% from the stock's previous close.

Separately, UBS Group upped their price target on Peakstone Realty Trust from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $17.50.

Peakstone Realty Trust Stock Up 0.2%

Shares of PKST stock traded up $0.03 during trading hours on Wednesday, reaching $13.57. 140,539 shares of the company's stock were exchanged, compared to its average volume of 204,130. The stock's 50 day moving average is $13.27 and its 200-day moving average is $12.55. The company has a market cap of $499.31 million, a price-to-earnings ratio of -1.53 and a beta of 1.76. The company has a current ratio of 5.02, a quick ratio of 5.02 and a debt-to-equity ratio of 1.61. Peakstone Realty Trust has a fifty-two week low of $10.14 and a fifty-two week high of $16.26.

Institutional Investors Weigh In On Peakstone Realty Trust

Hedge funds have recently added to or reduced their stakes in the business. Twin Peaks Wealth Advisors LLC purchased a new stake in Peakstone Realty Trust in the second quarter valued at $26,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Peakstone Realty Trust in the fourth quarter valued at $34,000. New Age Alpha Advisors LLC purchased a new stake in Peakstone Realty Trust in the first quarter valued at $35,000. Elevation Point Wealth Partners LLC purchased a new stake in Peakstone Realty Trust in the second quarter valued at $35,000. Finally, Ameriflex Group Inc. purchased a new stake in Peakstone Realty Trust in the fourth quarter valued at $36,000. 38.98% of the stock is owned by hedge funds and other institutional investors.

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.