Peakstone Realty Trust to Issue Quarterly Dividend of $0.23 (NYSE:PKST)

Peakstone Realty Trust (NYSE:PKST) declared a quarterly dividend on Friday, February 21st, Wall Street Journal reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.225 per share on Thursday, April 17th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 8.63%. The ex-dividend date of this dividend is Monday, March 31st.

Peakstone Realty Trust has a payout ratio of -214.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Peakstone Realty Trust to earn $2.07 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 43.5%.

Peakstone Realty Trust Trading Down 2.2 %

NYSE PKST opened at $10.43 on Friday. Peakstone Realty Trust has a 12 month low of $9.89 and a 12 month high of $16.86. The company has a 50-day moving average of $10.99 and a 200-day moving average of $12.53. The company has a debt-to-equity ratio of 1.03, a current ratio of 5.24 and a quick ratio of 5.24. The company has a market cap of $379.44 million, a P/E ratio of -37.25 and a beta of 2.58.

Peakstone Realty Trust (NYSE:PKST) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.85. Peakstone Realty Trust had a negative net margin of 4.38% and a negative return on equity of 0.85%. The company had revenue of $57.93 million during the quarter, compared to the consensus estimate of $54.68 million. As a group, equities analysts predict that Peakstone Realty Trust will post 2.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Truist Financial upped their price objective on shares of Peakstone Realty Trust from $13.00 to $15.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. UBS Group began coverage on Peakstone Realty Trust in a report on Thursday, January 16th. They set a “buy” rating and a $15.00 target price for the company.

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.