Peakstone Realty Trust (NYSE:PKST) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in shares of Peakstone Realty Trust (NYSE:PKST - Free Report) by 24.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 113,774 shares of the company's stock after selling 37,336 shares during the quarter. Bank of New York Mellon Corp owned about 0.31% of Peakstone Realty Trust worth $1,259,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PKST. JPMorgan Chase & Co. lifted its stake in shares of Peakstone Realty Trust by 106.2% during the third quarter. JPMorgan Chase & Co. now owns 126,483 shares of the company's stock worth $1,724,000 after purchasing an additional 65,137 shares in the last quarter. Captrust Financial Advisors acquired a new position in Peakstone Realty Trust during the 3rd quarter worth approximately $781,000. Meixler Investment Management Ltd. acquired a new position in Peakstone Realty Trust during the 4th quarter worth approximately $603,000. Centaurus Financial Inc. boosted its holdings in Peakstone Realty Trust by 4.1% in the 3rd quarter. Centaurus Financial Inc. now owns 1,253,223 shares of the company's stock worth $17,081,000 after acquiring an additional 49,769 shares during the period. Finally, Barclays PLC raised its stake in shares of Peakstone Realty Trust by 318.6% during the third quarter. Barclays PLC now owns 56,078 shares of the company's stock valued at $764,000 after purchasing an additional 42,681 shares during the period. 38.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PKST has been the subject of several analyst reports. UBS Group initiated coverage on shares of Peakstone Realty Trust in a research note on Thursday, January 16th. They issued a "buy" rating and a $15.00 target price for the company. Truist Financial raised their target price on Peakstone Realty Trust from $13.00 to $15.00 and gave the company a "hold" rating in a research note on Monday.

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Peakstone Realty Trust Stock Up 1.0 %

NYSE PKST traded up $0.13 during trading hours on Thursday, reaching $12.70. 153,801 shares of the company traded hands, compared to its average volume of 220,579. The stock has a market capitalization of $466.79 million, a PE ratio of -45.36 and a beta of 2.41. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 1.03. Peakstone Realty Trust has a 12 month low of $9.89 and a 12 month high of $16.86. The company has a 50 day moving average of $11.35 and a two-hundred day moving average of $12.42.

Peakstone Realty Trust (NYSE:PKST - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of ($0.20) by $0.85. Peakstone Realty Trust had a negative net margin of 4.38% and a negative return on equity of 0.85%. The business 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 earnings per share for the current year.

Peakstone Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 7.09%. The ex-dividend date of this dividend is Monday, March 31st. Peakstone Realty Trust's dividend payout ratio is presently -321.43%.

Peakstone Realty Trust 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.