Peakstone Realty Trust (NYSE:PKST) Issues Quarterly Earnings Results, Misses Estimates By $0.22 EPS

Peakstone Realty Trust (NYSE:PKST) posted its quarterly earnings results on Wednesday. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.22), FiscalAI reports. Peakstone Realty Trust had a negative return on equity of 32.69% and a negative net margin of 153.27%.

Peakstone Realty Trust Stock Performance

PKST traded up $0.02 during trading on Wednesday, hitting $20.77. The stock had a trading volume of 396,751 shares, compared to its average volume of 808,855. The firm has a market capitalization of $763.97 million, a P/E ratio of -2.55 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. Peakstone Realty Trust has a twelve month low of $10.35 and a twelve month high of $20.97. The company’s 50-day moving average price is $15.85 and its 200 day moving average price is $14.24.

Institutional Investors Weigh In On Peakstone Realty Trust

A number of hedge funds and other institutional investors have recently modified their holdings of PKST. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Peakstone Realty Trust by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,715 shares of the company’s stock valued at $274,000 after buying an additional 936 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Peakstone Realty Trust by 1,051.7% during the 1st quarter. Jones Financial Companies Lllp now owns 4,791 shares of the company’s stock worth $60,000 after buying an additional 4,375 shares during the last quarter. Strs Ohio purchased a new position in shares of Peakstone Realty Trust in the 1st quarter worth about $89,000. Quantbot Technologies LP acquired a new position in Peakstone Realty Trust during the second quarter valued at approximately $97,000. Finally, StoneX Group Inc. boosted its position in Peakstone Realty Trust by 36.3% during the 2nd quarter. StoneX Group Inc. now owns 15,118 shares of the company’s stock worth $202,000 after purchasing an additional 4,028 shares during the period. 38.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PKST. Zacks Research upgraded Peakstone Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Monday, November 3rd. UBS Group lowered Peakstone Realty Trust from a “buy” rating to a “neutral” rating and raised their price objective for the company from $17.00 to $21.00 in a report on Monday, February 2nd. Truist Financial lowered shares of Peakstone Realty Trust from a “buy” rating to a “hold” rating and raised their price target for the company from $19.00 to $21.00 in a research note on Tuesday, February 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Peakstone Realty Trust in a research note on Thursday, January 22nd. Finally, Wall Street Zen lowered Peakstone Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $21.00.

About Peakstone Realty Trust

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.