Ameriflex Group Inc. Sells 953 Shares of Peakstone Realty Trust $PKST

Ameriflex Group Inc. decreased its position in Peakstone Realty Trust (NYSE:PKST) by 28.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,385 shares of the company’s stock after selling 953 shares during the period. Ameriflex Group Inc.’s holdings in Peakstone Realty Trust were worth $32,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Peakstone Realty Trust by 69.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 615,268 shares of the company’s stock worth $7,752,000 after buying an additional 251,858 shares in the last quarter. Invesco Ltd. lifted its position in Peakstone Realty Trust by 23.3% in the 1st quarter. Invesco Ltd. now owns 832,315 shares of the company’s stock valued at $10,487,000 after acquiring an additional 157,267 shares in the last quarter. TCW Group Inc. purchased a new stake in Peakstone Realty Trust during the 1st quarter valued at $1,717,000. Nuveen LLC bought a new stake in shares of Peakstone Realty Trust in the 1st quarter worth $1,166,000. Finally, GAMMA Investing LLC raised its stake in shares of Peakstone Realty Trust by 4,623.2% in the first quarter. GAMMA Investing LLC now owns 74,957 shares of the company’s stock worth $944,000 after purchasing an additional 73,370 shares during the last quarter. 38.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PKST. UBS Group increased their price objective on Peakstone Realty Trust from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, August 15th. Truist Financial raised shares of Peakstone Realty Trust from a “hold” rating to a “buy” rating and raised their price target for the company from $16.00 to $19.00 in a report on Wednesday, September 3rd. Zacks Research cut shares of Peakstone Realty Trust from a “hold” rating to a “strong sell” rating in a report on Monday, September 15th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Peakstone Realty Trust in a research report on Saturday, September 27th. Two analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $17.50.

Peakstone Realty Trust Stock Performance

PKST opened at $13.63 on Monday. The company has a current ratio of 5.02, a quick ratio of 5.02 and a debt-to-equity ratio of 1.61. The company has a market cap of $501.41 million, a price-to-earnings ratio of -1.53 and a beta of 1.76. The company’s 50 day moving average is $13.16 and its 200 day moving average is $12.80. Peakstone Realty Trust has a 12-month low of $10.14 and a 12-month high of $14.80.

Peakstone Realty Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.9%. Peakstone Realty Trust’s payout ratio is presently -4.50%.

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.