ARS Investment Partners LLC Invests $299,000 in Peakstone Realty Trust (NYSE:PKST)

ARS Investment Partners LLC bought a new position in shares of Peakstone Realty Trust (NYSE:PKST) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 27,000 shares of the company’s stock, valued at approximately $299,000. ARS Investment Partners LLC owned about 0.07% of Peakstone Realty Trust as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. grew its stake in Peakstone Realty Trust by 106.2% in the third quarter. JPMorgan Chase & Co. now owns 126,483 shares of the company’s stock worth $1,724,000 after purchasing an additional 65,137 shares in the last quarter. Barclays PLC grew its stake in Peakstone Realty Trust by 318.6% in the third quarter. Barclays PLC now owns 56,078 shares of the company’s stock worth $764,000 after purchasing an additional 42,681 shares in the last quarter. Geode Capital Management LLC grew its stake in Peakstone Realty Trust by 1.2% in the third quarter. Geode Capital Management LLC now owns 922,638 shares of the company’s stock worth $12,578,000 after purchasing an additional 10,722 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in Peakstone Realty Trust by 9.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 47,000 shares of the company’s stock worth $641,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Orion Portfolio Solutions LLC grew its stake in Peakstone Realty Trust by 37.6% in the third quarter. Orion Portfolio Solutions LLC now owns 21,027 shares of the company’s stock worth $287,000 after purchasing an additional 5,746 shares in the last quarter. 38.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on PKST shares. Truist Financial lifted their price target on Peakstone Realty Trust from $13.00 to $15.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. UBS Group assumed coverage on Peakstone Realty Trust in a research note on Thursday, January 16th. They issued a “buy” rating and a $15.00 target price for the company.

Peakstone Realty Trust Price Performance

Shares of NYSE PKST opened at $11.24 on Tuesday. 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 stock has a 50 day simple moving average of $12.14 and a 200-day simple moving average of $12.89. Peakstone Realty Trust has a 12-month low of $9.89 and a 12-month high of $16.86.

Peakstone Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were issued a dividend of $0.225 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.90 annualized dividend and a yield of 8.00%. Peakstone Realty Trust’s payout ratio is -76.27%.

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.