Drive Wealth Management LLC Acquires New Holdings in Peakstone Realty Trust (NYSE:PKST)

Drive Wealth Management LLC bought a new position in shares of Peakstone Realty Trust (NYSE:PKST) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 31,017 shares of the company’s stock, valued at approximately $398,000. Drive Wealth Management LLC owned 0.08% of Peakstone Realty Trust as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Brookwood Investment Group LLC acquired a new stake in shares of Peakstone Realty Trust in the 1st quarter valued at about $298,000. Sigma Planning Corp raised its position in Peakstone Realty Trust by 8.4% in the 1st quarter. Sigma Planning Corp now owns 156,871 shares of the company’s stock valued at $1,977,000 after buying an additional 12,158 shares during the last quarter. CWM LLC lifted its stake in Peakstone Realty Trust by 3.5% in the 1st quarter. CWM LLC now owns 65,084 shares of the company’s stock valued at $820,000 after acquiring an additional 2,182 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new stake in Peakstone Realty Trust in the 1st quarter valued at approximately $58,000. Finally, Allworth Financial LP boosted its position in Peakstone Realty Trust by 26.3% during the 1st quarter. Allworth Financial LP now owns 4,418 shares of the company’s stock worth $53,000 after acquiring an additional 919 shares during the last quarter. 38.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Truist Financial lifted their price objective on shares of Peakstone Realty Trust from $15.00 to $16.00 and gave the company a “hold” rating in a report on Tuesday, June 3rd. UBS Group lifted their price target on shares of Peakstone Realty Trust from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th.

Peakstone Realty Trust Stock Up 0.5%

NYSE:PKST opened at $13.80 on Friday. Peakstone Realty Trust has a twelve month low of $10.14 and a twelve month high of $16.26. The firm has a market capitalization of $507.28 million, a price-to-earnings ratio of -7.79 and a beta of 1.74. The company has a quick ratio of 3.81, a current ratio of 3.81 and a debt-to-equity ratio of 1.25. The stock’s 50 day moving average price is $13.15 and its two-hundred day moving average price is $12.09.

Peakstone Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Monday, June 30th were issued a dividend of $0.225 per share. The ex-dividend date was Monday, June 30th. This represents a $0.90 dividend on an annualized basis and a yield of 6.52%. Peakstone Realty Trust’s payout ratio is -50.85%.

Peakstone Realty Trust Company 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.