Peakstone Realty Trust (NYSE:PKST) Announces $0.23 Quarterly Dividend

Peakstone Realty Trust (NYSE:PKST) announced a quarterly dividend on Tuesday, September 19th, Wall Street Journal reports. Shareholders of record on Saturday, September 30th will be given a dividend of 0.225 per share on Tuesday, October 17th. This represents a $0.90 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date of this dividend is Thursday, September 28th.

Peakstone Realty Trust Stock Performance

PKST traded down $0.16 during midday trading on Tuesday, reaching $19.16. The company’s stock had a trading volume of 150,990 shares, compared to its average volume of 382,100. The firm has a fifty day simple moving average of $21.37. The company has a quick ratio of 7.02, a current ratio of 7.02 and a debt-to-equity ratio of 1.05. Peakstone Realty Trust has a twelve month low of $8.00 and a twelve month high of $47.00.

Institutional Trading of Peakstone Realty Trust

Several institutional investors have recently modified their holdings of PKST. IHT Wealth Management LLC bought a new position in shares of Peakstone Realty Trust during the 2nd quarter worth approximately $333,000. Wells Fargo & Company MN bought a new position in shares of Peakstone Realty Trust during the 2nd quarter worth approximately $327,000. The Manufacturers Life Insurance Company bought a new position in shares of Peakstone Realty Trust during the 2nd quarter worth approximately $295,000. Castleview Partners LLC bought a new position in shares of Peakstone Realty Trust during the 2nd quarter worth approximately $293,000. Finally, California State Teachers Retirement System bought a new position in shares of Peakstone Realty Trust during the 2nd quarter worth approximately $258,000. Institutional investors and hedge funds own 27.29% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Truist Financial lowered their target price on Peakstone Realty Trust from $24.00 to $22.00 and set a “hold” rating on the stock in a report on Friday, August 11th. Bank of America started coverage on Peakstone Realty Trust in a report on Tuesday, June 13th. They set an “underperform” rating and a $27.00 price objective on the stock.

About Peakstone Realty Trust

Peakstone Realty Trust (NYSE: PKST) is an internally managed, real estate investment trust (REIT) that owns and operates a high-quality, newer-vintage portfolio of predominantly single-tenant industrial and office properties. These assets are generally leased to creditworthy tenants under long-term net lease agreements with contractual rent escalations.