Harbour Investments Inc. Reduces Holdings in Peakstone Realty Trust (NYSE:PKST)

Harbour Investments Inc. reduced its holdings in shares of Peakstone Realty Trust (NYSE:PKST) by 15.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,823 shares of the company’s stock after selling 5,191 shares during the period. Harbour Investments Inc. owned about 0.08% of Peakstone Realty Trust worth $308,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PKST. AlphaQuest LLC purchased a new position in Peakstone Realty Trust during the fourth quarter valued at approximately $30,000. Spire Wealth Management bought a new stake in shares of Peakstone Realty Trust during the fourth quarter valued at approximately $30,000. Golden State Wealth Management LLC purchased a new position in shares of Peakstone Realty Trust in the fourth quarter worth $31,000. Financial Life Planners purchased a new position in Peakstone Realty Trust during the fourth quarter valued at $39,000. Finally, Geneos Wealth Management Inc. bought a new stake in Peakstone Realty Trust in the 4th quarter valued at $67,000. 38.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, UBS Group started coverage on Peakstone Realty Trust in a research report on Thursday, January 16th. They set a “buy” rating and a $15.00 price objective for the company.

Peakstone Realty Trust Price Performance

NYSE:PKST opened at $13.16 on Friday. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $483.73 million, a P/E ratio of -47.00 and a beta of 2.40. Peakstone Realty Trust has a 12 month low of $9.89 and a 12 month high of $16.86. The business’s 50-day moving average is $11.22 and its 200 day moving average is $12.43.

Peakstone Realty Trust (NYSE:PKST) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.85. Peakstone Realty Trust had a negative return on equity of 0.85% and a negative net margin of 4.38%. The company had revenue of $57.93 million for the quarter, compared to analysts’ expectations of $54.68 million. On average, equities research analysts forecast that Peakstone Realty Trust will post 2.13 earnings per share for the current fiscal year.

Peakstone Realty Trust Dividend Announcement

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

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.