Bank of New York Mellon Corp Has $1.26 Million Stake in Peakstone Realty Trust (NYSE:PKST)

Bank of New York Mellon Corp lowered its stake in Peakstone Realty Trust (NYSE:PKST) by 24.7% in the fourth quarter, Holdings Channel reports. The fund owned 113,774 shares of the company’s stock after selling 37,336 shares during the quarter. Bank of New York Mellon Corp’s holdings in Peakstone Realty Trust were worth $1,259,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Daiwa Securities Group Inc. grew its position in Peakstone Realty Trust by 10.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 12,010 shares of the company’s stock worth $164,000 after acquiring an additional 1,148 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Peakstone Realty Trust by 13.9% during the fourth quarter. SG Americas Securities LLC now owns 15,742 shares of the company’s stock valued at $174,000 after purchasing an additional 1,919 shares in the last quarter. PFG Investments LLC grew its holdings in shares of Peakstone Realty Trust by 23.4% during the fourth quarter. PFG Investments LLC now owns 13,130 shares of the company’s stock worth $145,000 after purchasing an additional 2,488 shares during the last quarter. Spire Wealth Management acquired a new position in shares of Peakstone Realty Trust in the fourth quarter valued at approximately $30,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Peakstone Realty Trust in the fourth quarter valued at approximately $31,000. 38.98% of the stock is currently owned by institutional investors and hedge funds.

Peakstone Realty Trust Trading Up 4.7 %

NYSE PKST opened at $13.16 on Monday. The firm has a market capitalization of $483.73 million, a PE ratio of -47.00 and a beta of 2.41. The business’s 50-day moving average price is $11.22 and its two-hundred day moving average price is $12.42. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 1.03. Peakstone Realty Trust has a 12 month low of $9.89 and a 12 month high of $16.86.

Peakstone Realty Trust (NYSE:PKST) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.85. The firm had revenue of $57.93 million during the quarter, compared to analyst estimates of $54.68 million. Peakstone Realty Trust had a negative net margin of 4.38% and a negative return on equity of 0.85%. On average, analysts expect that Peakstone Realty Trust will post 2.13 EPS for the current year.

Peakstone Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 6.84%. The ex-dividend date of this dividend is Monday, March 31st. Peakstone Realty Trust’s dividend payout ratio (DPR) is -321.43%.

Wall Street Analysts Forecast Growth

Separately, UBS Group started coverage on shares of Peakstone Realty Trust in a report on Thursday, January 16th. They set a “buy” rating and a $15.00 target price on the stock.

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.