Peakstone Realty Trust (NYSE:PKST) Sets New 52-Week High – Here’s Why

Peakstone Realty Trust (NYSE:PKST)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $20.86 and last traded at $20.85, with a volume of 414472 shares. The stock had previously closed at $20.75.

Analysts Set New Price Targets

A number of brokerages recently commented on PKST. Truist Financial downgraded Peakstone Realty Trust from a “buy” rating to a “hold” rating and increased their price target for the company from $19.00 to $21.00 in a research report on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of Peakstone Realty Trust in a research note on Thursday, January 22nd. Zacks Research raised Peakstone Realty Trust from a “strong sell” rating to a “hold” rating in a research report on Monday, November 3rd. UBS Group cut Peakstone Realty Trust from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $17.00 to $21.00 in a research note on Monday. Finally, Wall Street Zen lowered shares of Peakstone Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $21.00.

Peakstone Realty Trust Price Performance

The firm has a 50 day moving average price of $14.74 and a two-hundred day moving average price of $13.85. The company has a market cap of $767.26 million, a P/E ratio of -2.57 and a beta of 1.70. The company has a debt-to-equity ratio of 1.34, a quick ratio of 5.97 and a current ratio of 5.97.

Institutional Investors Weigh In On Peakstone Realty Trust

Several hedge funds and other institutional investors have recently modified their holdings of PKST. Conversant Capital LLC purchased a new stake in shares of Peakstone Realty Trust during the second quarter valued at approximately $15,652,000. Strs Ohio raised its holdings in Peakstone Realty Trust by 169.7% during the 4th quarter. Strs Ohio now owns 460,600 shares of the company’s stock valued at $6,610,000 after buying an additional 289,800 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Peakstone Realty Trust by 2,641.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 170,065 shares of the company’s stock valued at $2,440,000 after buying an additional 163,862 shares during the period. Private Management Group Inc. bought a new stake in Peakstone Realty Trust in the 3rd quarter worth $1,633,000. Finally, Millennium Management LLC grew its holdings in 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 acquiring an additional 88,263 shares during the last quarter. 38.98% of the stock is currently owned by 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.