IHT Wealth Management LLC Takes $141,000 Position in Peakstone Realty Trust (NYSE:PKST)

IHT Wealth Management LLC bought a new stake in Peakstone Realty Trust (NYSE:PKST) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,352 shares of the company’s stock, valued at approximately $141,000.

A number of other hedge funds also recently modified their holdings of PKST. Fortitude Family Office LLC purchased a new stake in Peakstone Realty Trust in the 3rd quarter worth about $30,000. Tsfg LLC lifted its position in shares of Peakstone Realty Trust by 43.0% in the second quarter. Tsfg LLC now owns 2,933 shares of the company’s stock worth $31,000 after purchasing an additional 882 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Peakstone Realty Trust in the second quarter worth approximately $43,000. Fortis Group Advisors LLC lifted its position in shares of Peakstone Realty Trust by 18.3% in the third quarter. Fortis Group Advisors LLC now owns 6,279 shares of the company’s stock worth $86,000 after purchasing an additional 970 shares in the last quarter. Finally, Arizona State Retirement System purchased a new stake in shares of Peakstone Realty Trust in the second quarter worth approximately $108,000. Hedge funds and other institutional investors own 38.98% of the company’s stock.

Analysts Set New Price Targets

Separately, Truist Financial increased their target price on shares of Peakstone Realty Trust from $13.00 to $15.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th.

Peakstone Realty Trust Price Performance

Shares of NYSE:PKST opened at $12.80 on Wednesday. Peakstone Realty Trust has a 1 year low of $9.89 and a 1 year high of $21.73. The business has a fifty day simple moving average of $13.40 and a 200 day simple moving average of $12.91. 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 firm has a market cap of $465.66 million, a price-to-earnings ratio of -10.85 and a beta of 2.51.

Peakstone Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 7.03%. The ex-dividend date is Tuesday, December 31st. Peakstone Realty Trust’s dividend payout ratio (DPR) is presently -76.27%.

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.