Peakstone Realty Trust (NYSE:PKST) Short Interest Down 19.3% in October

Peakstone Realty Trust (NYSE:PKST - Get Free Report) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totalling 1,210,000 shares, a decrease of 19.3% from the September 30th total of 1,500,000 shares. Currently, 3.4% of the company's stock are short sold. Based on an average trading volume of 141,800 shares, the days-to-cover ratio is currently 8.5 days.

Analyst Upgrades and Downgrades

Separately, Truist Financial dropped their price objective on Peakstone Realty Trust from $16.00 to $13.00 and set a "hold" rating on the stock in a research report on Wednesday, August 21st.

Hedge Funds Weigh In On Peakstone Realty Trust

A number of institutional investors and hedge funds have recently modified their holdings of the company. Fortitude Family Office LLC purchased a new position in shares of Peakstone Realty Trust in the third quarter worth approximately $30,000. Tsfg LLC boosted its stake in shares of Peakstone Realty Trust by 43.0% during the 2nd quarter. Tsfg LLC now owns 2,933 shares of the company's stock worth $31,000 after acquiring an additional 882 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Peakstone Realty Trust during the 2nd quarter valued at $43,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Peakstone Realty Trust during the 1st quarter valued at $48,000. Finally, Fortis Group Advisors LLC increased its stake in shares of Peakstone Realty Trust by 18.3% in the 3rd quarter. Fortis Group Advisors LLC now owns 6,279 shares of the company's stock worth $86,000 after purchasing an additional 970 shares in the last quarter. 38.98% of the stock is currently owned by hedge funds and other institutional investors.

Peakstone Realty Trust Stock Performance

Shares of PKST traded down $0.36 during mid-day trading on Friday, hitting $13.22. 83,109 shares of the company traded hands, compared to its average volume of 155,405. The stock has a market cap of $479.97 million, a price-to-earnings ratio of -0.85 and a beta of 2.63. The stock has a 50-day moving average price of $13.71 and a two-hundred day moving average price of $13.05. Peakstone Realty Trust has a 1 year low of $9.89 and a 1 year 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 declared a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Monday, September 30th were issued a dividend of $0.225 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.90 annualized dividend and a dividend yield of 6.81%. Peakstone Realty Trust's payout ratio is -5.79%.

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.