Peakstone Realty Trust (NYSE:PKST) Issues Earnings Results

Peakstone Realty Trust (NYSE:PKST) issued its quarterly earnings data on Wednesday. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.66), Zacks reports. The firm had revenue of $25.99 million for the quarter, compared to the consensus estimate of $28.57 million. Peakstone Realty Trust had a negative return on equity of 32.69% and a negative net margin of 153.27%.

Peakstone Realty Trust Stock Up 0.1%

Shares of PKST stock opened at $20.77 on Thursday. The firm’s fifty day moving average price is $15.98 and its two-hundred day moving average price is $14.29. Peakstone Realty Trust has a 1 year low of $10.35 and a 1 year high of $20.97. The company has a current ratio of 5.97, a quick ratio of 5.97 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $763.94 million, a P/E ratio of -2.55 and a beta of 1.70.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC grew its stake in shares of Peakstone Realty Trust by 209.8% in the second quarter. Tower Research Capital LLC TRC now owns 3,767 shares of the company’s stock valued at $50,000 after acquiring an additional 2,551 shares in the last quarter. Jones Financial Companies Lllp grew its position in Peakstone Realty Trust by 1,051.7% in the first quarter. Jones Financial Companies Lllp now owns 4,791 shares of the company’s stock valued at $60,000 after acquiring an additional 4,375 shares during the last quarter. Geneos Wealth Management Inc. increased its position in Peakstone Realty Trust by 20.6% during the 2nd quarter. Geneos Wealth Management Inc. now owns 5,381 shares of the company’s stock worth $71,000 after purchasing an additional 920 shares in the last quarter. Strs Ohio acquired a new position in shares of Peakstone Realty Trust during the first quarter worth $89,000. Finally, BNP Paribas Financial Markets grew its position in Peakstone Realty Trust by 28.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,124 shares of the company’s stock worth $93,000 after acquiring an additional 1,579 shares during the last quarter. Institutional investors own 38.98% of the company’s stock.

Analyst Ratings Changes

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

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.