Truist Financial Forecasts Strong Price Appreciation for Peakstone Realty Trust (NYSE:PKST) Stock

Peakstone Realty Trust (NYSE:PKST) had its target price lifted by analysts at Truist Financial from $15.00 to $16.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s target price indicates a potential upside of 26.68% from the stock’s current price.

Separately, UBS Group increased their price objective on shares of Peakstone Realty Trust from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th.

Peakstone Realty Trust Stock Up 0.6%

Shares of NYSE:PKST traded up $0.07 during midday trading on Tuesday, reaching $12.63. The company’s stock had a trading volume of 22,129 shares, compared to its average volume of 182,794. The firm has a market capitalization of $464.44 million, a P/E ratio of -45.11 and a beta of 1.73. The firm has a 50 day moving average of $11.98 and a 200-day moving average of $11.78. Peakstone Realty Trust has a 12-month low of $9.89 and a 12-month high of $16.26. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 1.03.

Hedge Funds Weigh In On Peakstone Realty Trust

Several institutional investors have recently made changes to their positions in the company. Invesco Ltd. boosted its position in Peakstone Realty Trust by 458.1% in the fourth quarter. Invesco Ltd. now owns 675,048 shares of the company’s stock valued at $7,473,000 after buying an additional 554,091 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Peakstone Realty Trust by 69.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 615,268 shares of the company’s stock worth $7,752,000 after acquiring an additional 251,858 shares in the last quarter. TCW Group Inc. acquired a new stake in Peakstone Realty Trust in the 1st quarter valued at about $1,717,000. Nuveen LLC acquired a new stake in shares of Peakstone Realty Trust during the 1st quarter worth about $1,166,000. Finally, Raffles Associates LP grew its stake in Peakstone Realty Trust by 225.1% during the 4th quarter. Raffles Associates LP now owns 129,987 shares of the company’s stock worth $1,439,000 after buying an additional 90,000 shares during the last quarter. Hedge funds and other institutional investors own 38.98% of the company’s 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.