Strid Group LLC Sells 1,604 Shares of Peakstone Realty Trust $PKST

Strid Group LLC cut its stake in shares of Peakstone Realty Trust (NYSE:PKST) by 8.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,424 shares of the company’s stock after selling 1,604 shares during the quarter. Strid Group LLC’s holdings in Peakstone Realty Trust were worth $230,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New Age Alpha Advisors LLC bought a new position in shares of Peakstone Realty Trust during the first quarter valued at $35,000. Allworth Financial LP increased its holdings in shares of Peakstone Realty Trust by 26.3% during the first quarter. Allworth Financial LP now owns 4,418 shares of the company’s stock valued at $53,000 after acquiring an additional 919 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new position in shares of Peakstone Realty Trust during the first quarter valued at $58,000. Jones Financial Companies Lllp increased its holdings in Peakstone Realty Trust by 1,051.7% in 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 in the last quarter. Finally, WPG Advisers LLC bought a new stake in Peakstone Realty Trust in the 1st quarter worth about $65,000. 38.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PKST has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Peakstone Realty Trust in a report on Saturday, September 27th. UBS Group lifted their price objective on Peakstone Realty Trust from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, August 15th. Zacks Research downgraded Peakstone Realty Trust from a “hold” rating to a “strong sell” rating in a report on Monday, September 15th. Finally, Truist Financial upgraded Peakstone Realty Trust from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $16.00 to $19.00 in a report on Wednesday, September 3rd. Two investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.50.

Peakstone Realty Trust Trading Up 2.6%

Shares of NYSE:PKST opened at $13.63 on Friday. The stock has a market capitalization of $501.41 million, a price-to-earnings ratio of -1.53 and a beta of 1.76. The company has a debt-to-equity ratio of 1.61, a quick ratio of 5.02 and a current ratio of 5.02. The stock’s 50-day simple moving average is $13.16 and its two-hundred day simple moving average is $12.80. Peakstone Realty Trust has a 52-week low of $10.14 and a 52-week high of $14.80.

Peakstone Realty Trust Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Tuesday, September 30th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Peakstone Realty Trust’s dividend payout ratio (DPR) is presently -4.50%.

Peakstone Realty Trust Profile

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.