Newbridge Financial Services Group Inc. Sells 890 Shares of Peakstone Realty Trust (NYSE:PKST)

Newbridge Financial Services Group Inc. reduced its stake in shares of Peakstone Realty Trust (NYSE:PKST) by 12.8% in the second quarter, HoldingsChannel reports. The firm owned 6,060 shares of the company’s stock after selling 890 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Peakstone Realty Trust were worth $64,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cetera Investment Advisers lifted its position in shares of Peakstone Realty Trust by 176.1% during the first quarter. Cetera Investment Advisers now owns 159,396 shares of the company’s stock valued at $2,571,000 after buying an additional 101,668 shares during the last quarter. AQR Capital Management LLC increased its position in Peakstone Realty Trust by 102.3% during the 2nd quarter. AQR Capital Management LLC now owns 108,887 shares of the company’s stock valued at $1,154,000 after buying an additional 55,071 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Peakstone Realty Trust by 19.9% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 306,813 shares of the company’s stock valued at $3,252,000 after buying an additional 51,025 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Peakstone Realty Trust by 1.3% in the first quarter. Vanguard Group Inc. now owns 3,618,361 shares of the company’s stock worth $58,364,000 after acquiring an additional 46,436 shares in the last quarter. Finally, My Legacy Advisors LLC purchased a new stake in shares of Peakstone Realty Trust during the second quarter worth about $476,000. Hedge funds and other institutional investors own 38.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Truist Financial lowered their target price on shares of Peakstone Realty Trust from $16.00 to $13.00 and set a “hold” rating for the company in a research note on Wednesday, August 21st.

Peakstone Realty Trust Price Performance

NYSE PKST opened at $13.23 on Friday. The stock’s fifty day moving average price is $13.34 and its 200 day moving average price is $13.29. Peakstone Realty Trust has a 1 year low of $9.89 and a 1 year high of $21.73. The company has a debt-to-equity ratio of 1.19, a current ratio of 8.03 and a quick ratio of 8.03. The company has a market cap of $481.31 million, a price-to-earnings ratio of -0.85 and a beta of 2.63.

Peakstone Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 6.80%. The ex-dividend date of this dividend is Monday, September 30th. Peakstone Realty Trust’s payout ratio is -5.79%.

Peakstone Realty Trust Company 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.