Peakstone Realty Trust (NYSE:PKST) Short Interest Update

Peakstone Realty Trust (NYSE:PKST) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totaling 2,378,147 shares, an increase of 24.4% from the December 15th total of 1,911,815 shares. Based on an average daily trading volume, of 242,522 shares, the days-to-cover ratio is currently 9.8 days. Currently, 6.5% of the company’s stock are short sold. Currently, 6.5% of the company’s stock are short sold. Based on an average daily trading volume, of 242,522 shares, the days-to-cover ratio is currently 9.8 days.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Zacks Research upgraded shares of Peakstone Realty Trust from a “strong sell” rating to a “hold” rating in a report on Monday, November 3rd. Wall Street Zen downgraded Peakstone Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Peakstone Realty Trust in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Peakstone Realty Trust currently has a consensus rating of “Hold” and an average price target of $17.50.

Peakstone Realty Trust Stock Performance

Shares of PKST remained flat at $13.99 during mid-day trading on Friday. 253,022 shares of the stock traded hands, compared to its average volume of 188,251. The company has a market cap of $514.69 million, a PE ratio of -1.72 and a beta of 1.71. The business has a 50-day moving average price of $14.07 and a 200-day moving average price of $13.59. Peakstone Realty Trust has a 1 year low of $10.35 and a 1 year high of $15.40. The company has a debt-to-equity ratio of 1.34, a quick ratio of 5.97 and a current ratio of 5.97.

Peakstone Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 19th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.10 per share. The ex-dividend date is Wednesday, December 31st. This represents a $0.40 dividend on an annualized basis and a yield of 2.9%. Peakstone Realty Trust’s payout ratio is currently -4.92%.

Hedge Funds Weigh In On Peakstone Realty Trust

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its position in Peakstone Realty Trust by 5.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,948 shares of the company’s stock valued at $233,000 after acquiring an additional 828 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Peakstone Realty Trust by 23.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 53,454 shares of the company’s stock valued at $701,000 after purchasing an additional 10,042 shares during the period. NewEdge Advisors LLC grew its stake in shares of Peakstone Realty Trust by 35.3% during the 3rd quarter. NewEdge Advisors LLC now owns 9,422 shares of the company’s stock valued at $124,000 after purchasing an additional 2,459 shares during the period. Verition Fund Management LLC increased its position in shares of Peakstone Realty Trust by 66.7% during the 3rd quarter. Verition Fund Management LLC now owns 21,500 shares of the company’s stock valued at $282,000 after purchasing an additional 8,600 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Peakstone Realty Trust by 263.2% in the 3rd quarter. Millennium Management LLC now owns 121,794 shares of the company’s stock worth $1,598,000 after purchasing an additional 88,263 shares during the period. 38.98% of the stock is currently owned by hedge funds and other institutional investors.

Peakstone Realty Trust Company Profile

Peakstone Realty Trust, Inc (NYSE: PKST) is a publicly traded real estate investment trust focused on the acquisition, ownership and operation of necessity-based retail and distribution properties. The company specializes in grocery-anchored shopping centers, community and neighborhood retail assets, and a growing portfolio of cold storage and distribution facilities. Peakstone generates rental income under long-term leases with a mix of national grocers, drugstore chains and logistics tenants.

Peakstone’s retail portfolio is anchored by investment-grade tenants in densely populated trade areas, providing tenants with essential goods and services and supporting resilient occupancy and cash flow.