MBL Wealth LLC Acquires New Shares in Peakstone Realty Trust $PKST

MBL Wealth LLC bought a new stake in shares of Peakstone Realty Trust (NYSE:PKST) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 10,590 shares of the company’s stock, valued at approximately $140,000.

Other large investors have also recently made changes to their positions in the company. Invesco Ltd. grew its position in shares of Peakstone Realty Trust by 23.3% in the first quarter. Invesco Ltd. now owns 832,315 shares of the company’s stock valued at $10,487,000 after purchasing an additional 157,267 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Peakstone Realty Trust by 69.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 615,268 shares of the company’s stock worth $7,752,000 after purchasing an additional 251,858 shares during the period. Sigma Planning Corp grew its holdings in Peakstone Realty Trust by 8.4% during 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 in the last quarter. Bank of New York Mellon Corp grew its holdings in Peakstone Realty Trust by 19.9% during the 1st quarter. Bank of New York Mellon Corp now owns 136,399 shares of the company’s stock valued at $1,719,000 after buying an additional 22,625 shares in the last quarter. Finally, TCW Group Inc. bought a new stake in shares of Peakstone Realty Trust during the first quarter valued at about $1,717,000. 38.98% of the stock is owned by institutional investors.

Peakstone Realty Trust Trading Up 2.6%

Shares of PKST opened at $13.63 on Monday. Peakstone Realty Trust has a 1-year low of $10.14 and a 1-year high of $14.80. The company has a market capitalization of $501.41 million, a P/E ratio of -1.53 and a beta of 1.76. The company has a debt-to-equity ratio of 1.61, a current ratio of 5.02 and a quick ratio of 5.02. The firm’s 50 day simple moving average is $13.16 and its 200 day simple moving average is $12.80.

Peakstone Realty Trust Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Tuesday, September 30th will be given a $0.10 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.40 annualized dividend and a yield of 2.9%. Peakstone Realty Trust’s payout ratio is -4.50%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. UBS Group raised their price objective on shares of 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. Weiss Ratings restated a “sell (d-)” rating on shares of Peakstone Realty Trust in a research report on Saturday, September 27th. Finally, Zacks Research downgraded Peakstone Realty Trust from a “hold” rating to a “strong sell” rating in a research report on Monday, September 15th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $17.50.

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.