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Peakstone Realty Trust (PKST) Stock Jumps 5.8%: Will It Continue to Soar?
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Peakstone Realty Trust (PKST - Free Report) shares ended the last trading session 5.8% higher at $14.04. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 15.7% gain over the past four weeks.
The increased investor optimism in the stock can be attributed to the favorable operating environment.
This company is expected to post quarterly funds from operations (FFO) of $0.71 per share in its upcoming report, which represents a year-over-year change of -2.7%. Revenues are expected to be $57.17 million, down 8.6% from the year-ago quarter.
While FFO and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in FFO estimate revisions and near-term stock price movements.
For Peakstone Realty Trust, the consensus FFO per share estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in FFO estimate revisions. So, make sure to keep an eye on PKST going forward to see if this recent jump can turn into more strength down the road.
Peakstone Realty Trust is part of the Zacks REIT and Equity Trust - Other industry. Ryman Hospitality Properties (RHP - Free Report) , another stock in the same industry, closed the last trading session 1.1% higher at $102.20. RHP has returned 2.3% in the past month.
Ryman Hospitality Properties' consensus FFO per share estimate for the upcoming report has remained unchanged over the past month at $2.30. Compared to the company's year-ago EPS, this represents a change of +11.7%. Ryman Hospitality Properties currently boasts a Zacks Rank of #3 (Hold).
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Peakstone Realty Trust (PKST) Stock Jumps 5.8%: Will It Continue to Soar?
Peakstone Realty Trust (PKST - Free Report) shares ended the last trading session 5.8% higher at $14.04. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 15.7% gain over the past four weeks.
The increased investor optimism in the stock can be attributed to the favorable operating environment.
This company is expected to post quarterly funds from operations (FFO) of $0.71 per share in its upcoming report, which represents a year-over-year change of -2.7%. Revenues are expected to be $57.17 million, down 8.6% from the year-ago quarter.
While FFO and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in FFO estimate revisions and near-term stock price movements.
For Peakstone Realty Trust, the consensus FFO per share estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in FFO estimate revisions. So, make sure to keep an eye on PKST going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Peakstone Realty Trust is part of the Zacks REIT and Equity Trust - Other industry. Ryman Hospitality Properties (RHP - Free Report) , another stock in the same industry, closed the last trading session 1.1% higher at $102.20. RHP has returned 2.3% in the past month.
Ryman Hospitality Properties' consensus FFO per share estimate for the upcoming report has remained unchanged over the past month at $2.30. Compared to the company's year-ago EPS, this represents a change of +11.7%. Ryman Hospitality Properties currently boasts a Zacks Rank of #3 (Hold).