Peakstone Realty Trust (NYSE:PKST) PT Lowered to $13.00 at Truist Financial

Peakstone Realty Trust (NYSE:PKST) had its price objective lowered by Truist Financial from $16.00 to $13.00 in a research report sent to investors on Wednesday, Benzinga reports. Truist Financial currently has a hold rating on the stock.

Peakstone Realty Trust Stock Up 8.1 %

NYSE PKST opened at $13.03 on Wednesday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 8.03 and a current ratio of 8.03. The firm has a 50-day simple moving average of $12.14 and a 200 day simple moving average of $13.42. Peakstone Realty Trust has a twelve month low of $9.89 and a twelve month high of $22.69. The stock has a market cap of $474.03 million, a PE ratio of -0.84 and a beta of 2.62.

Peakstone Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Monday, September 30th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 6.91%. The ex-dividend date is Monday, September 30th. Peakstone Realty Trust’s payout ratio is presently -5.79%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PKST. Cetera Investment Advisers lifted its stake in Peakstone Realty Trust by 176.1% during the first quarter. Cetera Investment Advisers now owns 159,396 shares of the company’s stock worth $2,571,000 after purchasing an additional 101,668 shares during the period. AQR Capital Management LLC lifted its stake in Peakstone Realty Trust by 102.3% during the second quarter. AQR Capital Management LLC now owns 108,887 shares of the company’s stock worth $1,154,000 after purchasing an additional 55,071 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in Peakstone Realty Trust by 19.9% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 306,813 shares of the company’s stock worth $3,252,000 after purchasing an additional 51,025 shares during the period. Vanguard Group Inc. lifted its stake in Peakstone Realty Trust by 1.3% during the first quarter. Vanguard Group Inc. now owns 3,618,361 shares of the company’s stock worth $58,364,000 after purchasing an additional 46,436 shares during the period. Finally, My Legacy Advisors LLC bought a new position in Peakstone Realty Trust during the second quarter worth about $476,000. Institutional investors own 38.98% of the company’s stock.

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.