Creekmur Asset Management LLC Trims Stake in Peakstone Realty Trust (NYSE:PKST)

Creekmur Asset Management LLC lowered its stake in shares of Peakstone Realty Trust (NYSE:PKST) by 46.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,921 shares of the company’s stock after selling 3,419 shares during the quarter. Creekmur Asset Management LLC’s holdings in Peakstone Realty Trust were worth $53,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of PKST. Fortitude Family Office LLC purchased a new stake in Peakstone Realty Trust in the third quarter worth about $30,000. Tsfg LLC grew its holdings in Peakstone Realty Trust by 43.0% in the second quarter. Tsfg LLC now owns 2,933 shares of the company’s stock worth $31,000 after purchasing an additional 882 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Peakstone Realty Trust in the first quarter worth about $48,000. Ashton Thomas Private Wealth LLC purchased a new stake in Peakstone Realty Trust in the second quarter worth about $43,000. Finally, Fortis Group Advisors LLC grew its holdings in Peakstone Realty Trust by 18.3% in the third quarter. Fortis Group Advisors LLC now owns 6,279 shares of the company’s stock worth $86,000 after purchasing an additional 970 shares during the period. Hedge funds and other institutional investors own 38.98% of the company’s stock.

Analysts Set New Price Targets

Separately, Truist Financial cut their price objective on shares of Peakstone Realty Trust from $16.00 to $13.00 and set a “hold” rating on the stock in a report on Wednesday, August 21st.

Peakstone Realty Trust Price Performance

Shares of PKST opened at $13.01 on Wednesday. The firm’s 50-day simple moving average is $13.73 and its two-hundred day simple moving average is $13.03. The stock has a market cap of $472.34 million, a PE ratio of -0.84 and a beta of 2.63. Peakstone Realty Trust has a fifty-two week low of $9.89 and a fifty-two week high of $21.73. The company has a debt-to-equity ratio of 1.19, a quick ratio of 8.03 and a current ratio of 8.03.

Peakstone Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Monday, September 30th were paid a $0.225 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.90 annualized dividend and a dividend yield of 6.92%. Peakstone Realty Trust’s dividend payout ratio is presently -5.79%.

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.