Harbour Investments Inc. Lowers Stake in Peakstone Realty Trust (NYSE:PKST)

Harbour Investments Inc. decreased its position in Peakstone Realty Trust (NYSE:PKST) by 15.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 27,823 shares of the company’s stock after selling 5,191 shares during the period. Harbour Investments Inc.’s holdings in Peakstone Realty Trust were worth $308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PKST. Concorde Asset Management LLC raised its stake in Peakstone Realty Trust by 42.9% in the 3rd quarter. Concorde Asset Management LLC now owns 33,793 shares of the company’s stock worth $461,000 after acquiring an additional 10,149 shares during the last quarter. Centaurus Financial Inc. grew its position in Peakstone Realty Trust by 4.1% during the 3rd quarter. Centaurus Financial Inc. now owns 1,253,223 shares of the company’s stock worth $17,081,000 after purchasing an additional 49,769 shares during the period. Pekin Hardy Strauss Inc. acquired a new stake in Peakstone Realty Trust during the 3rd quarter worth about $483,000. Daiwa Securities Group Inc. grew its position in Peakstone Realty Trust by 10.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 12,010 shares of the company’s stock worth $164,000 after purchasing an additional 1,148 shares during the period. Finally, FMR LLC grew its position in Peakstone Realty Trust by 143.3% during the 3rd quarter. FMR LLC now owns 8,982 shares of the company’s stock worth $122,000 after purchasing an additional 5,290 shares during the period. Hedge funds and other institutional investors own 38.98% of the company’s stock.

Wall Street Analyst Weigh In

Separately, UBS Group started coverage on Peakstone Realty Trust in a research report on Thursday, January 16th. They set a “buy” rating and a $15.00 price target on the stock.

Peakstone Realty Trust Price Performance

NYSE:PKST opened at $13.16 on Friday. Peakstone Realty Trust has a 52 week low of $9.89 and a 52 week high of $16.86. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $483.73 million, a PE ratio of -47.00 and a beta of 2.40. The stock’s 50-day moving average price is $11.22 and its 200-day moving average price is $12.43.

Peakstone Realty Trust (NYSE:PKST) last posted its earnings results on Thursday, February 20th. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.85. Peakstone Realty Trust had a negative return on equity of 0.85% and a negative net margin of 4.38%. The firm had revenue of $57.93 million for the quarter, compared to analysts’ expectations of $54.68 million. As a group, equities analysts expect that Peakstone Realty Trust will post 2.13 EPS for the current fiscal year.

Peakstone Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 6.84%. The ex-dividend date of this dividend is Monday, March 31st. Peakstone Realty Trust’s dividend payout ratio (DPR) is presently -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.