Peakstone Realty Trust (NYSE:PKST) Posts Quarterly Earnings Results, Misses Estimates By $0.66 EPS

Peakstone Realty Trust (NYSE:PKST) issued its quarterly earnings results on Wednesday. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates 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 Trading Up 0.0%

PKST traded up $0.01 during trading on Thursday, hitting $20.77. The company’s stock had a trading volume of 26,926 shares, compared to its average volume of 784,948. The firm has a market capitalization of $763.94 million, a P/E ratio of -2.55 and a beta of 1.70. The stock’s fifty day moving average price is $15.98 and its 200-day moving average price is $14.29. The company has a quick ratio of 5.97, a current ratio of 5.97 and a debt-to-equity ratio of 1.34. Peakstone Realty Trust has a twelve month low of $10.35 and a twelve month high of $20.97.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PKST. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Peakstone Realty Trust by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,715 shares of the company’s stock valued at $274,000 after acquiring an additional 936 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of 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 purchasing an additional 4,375 shares in the last quarter. Strs Ohio acquired a new stake in Peakstone Realty Trust in the 1st quarter valued at $89,000. Quantbot Technologies LP bought a new stake in Peakstone Realty Trust during the 2nd quarter valued at $97,000. Finally, StoneX Group Inc. increased its stake in Peakstone Realty Trust by 36.3% during the 2nd quarter. StoneX Group Inc. now owns 15,118 shares of the company’s stock valued at $202,000 after purchasing an additional 4,028 shares in the last quarter. Institutional investors own 38.98% of the company’s stock.

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.