UBS Group Initiates Coverage on Peakstone Realty Trust (NYSE:PKST)

Equities research analysts at UBS Group assumed coverage on shares of Peakstone Realty Trust (NYSE:PKST) in a note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $15.00 price target on the stock. UBS Group’s price objective would suggest a potential upside of 33.42% from the stock’s current price.

Separately, Truist Financial raised their price objective on 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 Stock Performance

NYSE PKST opened at $11.24 on Thursday. The company has a market capitalization of $409.02 million, a price-to-earnings ratio of -9.53 and a beta of 2.59. Peakstone Realty Trust has a twelve month low of $9.89 and a twelve month high of $16.86. The stock has a fifty day simple moving average of $12.19 and a 200 day simple moving average of $12.85. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 1.03.

Institutional Trading of Peakstone Realty Trust

A number of institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in shares of Peakstone Realty Trust by 14.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 165,129 shares of the company’s stock worth $1,750,000 after acquiring an additional 21,333 shares in the last quarter. Rhumbline Advisers increased its holdings in Peakstone Realty Trust by 2.8% in the second quarter. Rhumbline Advisers now owns 58,050 shares of the company’s stock worth $615,000 after purchasing an additional 1,569 shares in the last quarter. Arizona State Retirement System bought a new stake in Peakstone Realty Trust in the second quarter worth approximately $108,000. Concorde Asset Management LLC lifted its stake in Peakstone Realty Trust by 20.2% in the second quarter. Concorde Asset Management LLC now owns 23,644 shares of the company’s stock valued at $251,000 after buying an additional 3,976 shares during the period. Finally, AE Wealth Management LLC bought a new position in shares of Peakstone Realty Trust during the 2nd quarter worth approximately $172,000. Institutional investors own 38.98% of the company’s stock.

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.