Raffles Associates LP Buys 90,000 Shares of Peakstone Realty Trust (NYSE:PKST)

Raffles Associates LP boosted its holdings in Peakstone Realty Trust (NYSE:PKST - Free Report) by 225.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 129,987 shares of the company's stock after acquiring an additional 90,000 shares during the quarter. Peakstone Realty Trust accounts for approximately 1.6% of Raffles Associates LP's investment portfolio, making the stock its 19th biggest holding. Raffles Associates LP owned 0.36% of Peakstone Realty Trust worth $1,439,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in shares of Peakstone Realty Trust by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 929,777 shares of the company's stock valued at $10,295,000 after purchasing an additional 7,139 shares in the last quarter. Invesco Ltd. lifted its stake in Peakstone Realty Trust by 458.1% during the 4th quarter. Invesco Ltd. now owns 675,048 shares of the company's stock valued at $7,473,000 after acquiring an additional 554,091 shares in the last quarter. Northern Trust Corp boosted its holdings in Peakstone Realty Trust by 16.4% during the 4th quarter. Northern Trust Corp now owns 370,451 shares of the company's stock worth $4,101,000 after acquiring an additional 52,119 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Peakstone Realty Trust by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 363,410 shares of the company's stock valued at $4,023,000 after purchasing an additional 12,403 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of 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 purchasing an additional 80,980 shares in the last quarter. Institutional investors and hedge funds own 38.98% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Truist Financial increased their price objective on shares of Peakstone Realty Trust from $13.00 to $15.00 and gave the company a "hold" rating in a research note on Monday, March 24th. UBS Group began coverage on Peakstone Realty Trust in a research report on Thursday, January 16th. They issued a "buy" rating and a $15.00 price objective on the stock.

Peakstone Realty Trust Stock Performance

Shares of Peakstone Realty Trust stock traded up $0.13 on Friday, reaching $11.53. 81,255 shares of the company traded hands, compared to its average volume of 183,897. The company has a debt-to-equity ratio of 1.03, a current ratio of 5.24 and a quick ratio of 5.24. The firm has a market capitalization of $423.79 million, a PE ratio of -41.18 and a beta of 1.73. The company has a 50 day moving average of $12.01 and a 200 day moving average of $12.00. Peakstone Realty Trust has a 52 week low of $9.89 and a 52 week high of $16.26.

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

Peakstone Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Monday, March 31st were given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 7.81%. The ex-dividend date of this dividend was Monday, March 31st. Peakstone Realty Trust's dividend payout ratio (DPR) is currently -321.43%.

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.