Peakstone Realty Trust (NYSE:PKST) Shares Gap Up – Time to Buy?

Peakstone Realty Trust (NYSE:PKST)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $15.62, but opened at $20.73. Peakstone Realty Trust shares last traded at $20.75, with a volume of 3,365,608 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PKST. Zacks Research raised shares of Peakstone Realty Trust from a “strong sell” rating to a “hold” rating in a research report on Monday, November 3rd. Truist Financial reaffirmed a “hold” rating and set a $21.00 target price (up previously from $19.00) on shares of Peakstone Realty Trust in a research note on Tuesday. UBS Group lowered shares of Peakstone Realty Trust from a “buy” rating to a “neutral” rating and lifted their target price for the company from $17.00 to $21.00 in a report on Monday. 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 reaffirmed a “sell (d-)” rating on shares of Peakstone Realty Trust in a research report on Thursday, January 22nd. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $21.00.

Peakstone Realty Trust Price Performance

The firm has a fifty day moving average price of $14.45 and a two-hundred day moving average price of $13.75. The stock has a market capitalization of $762.66 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.

Institutional Trading of Peakstone Realty Trust

Several large investors have recently added to or reduced their stakes in PKST. Bailard Inc. purchased a new stake in Peakstone Realty Trust in the third quarter worth about $497,000. Strs Ohio grew its stake in shares of Peakstone Realty Trust by 2,305.6% during the 3rd quarter. Strs Ohio now owns 170,800 shares of the company’s stock valued at $2,241,000 after acquiring an additional 163,700 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Peakstone Realty Trust by 14.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,690 shares of the company’s stock valued at $162,000 after acquiring an additional 1,458 shares during the period. Brookwood Investment Group LLC increased its holdings in Peakstone Realty Trust by 69.4% in the 2nd quarter. Brookwood Investment Group LLC now owns 39,992 shares of the company’s stock worth $528,000 after acquiring an additional 16,378 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its stake in Peakstone Realty Trust by 14.0% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 53,600 shares of the company’s stock worth $708,000 after acquiring an additional 6,600 shares during the period. 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.