Mishkat is a direct Quranic name for boys and girls that means means niche, which is a shallow recess in a wall that contains a lantern (it is like a shelf to put lanterns on, but the shelf is embedded inside the wall). The word Mishkat is used in the Quran in verse 24:35:

No independent English meaning found for this name in these sources. Its Arabic spelling matches a real word in the Quran — see the citation below.