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

Peakstone Realty Trust (NYSE:PKST) announced a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Stockholders of record on Friday, June 28th will be given a dividend of 0.225 per share on Thursday, July 18th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 6.69%. The ex-dividend date of this dividend is Friday, June 28th.

Peakstone Realty Trust has a dividend payout ratio of 3,000.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Peakstone Realty Trust to earn $2.92 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 30.8%.

Peakstone Realty Trust Price Performance

PKST stock opened at $13.45 on Thursday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 5.89 and a current ratio of 5.89. Peakstone Realty Trust has a 1 year low of $12.10 and a 1 year high of $39.91. The firm has a market cap of $488.37 million and a P/E ratio of -0.87. The stock has a 50-day simple moving average of $14.62 and a 200-day simple moving average of $15.63.

Peakstone Realty Trust (NYSE:PKST) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($1.20). The business had revenue of $63.06 million during the quarter, compared to analysts’ expectations of $62.07 million. Peakstone Realty Trust had a negative net margin of 216.52% and a negative return on equity of 38.73%. On average, equities analysts predict that Peakstone Realty Trust will post 3.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Truist Financial reduced their price target on Peakstone Realty Trust from $17.00 to $15.00 and set a “hold” rating for the company in a report on Tuesday, April 16th.

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.