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

Peakstone Realty Trust (NYSE:PKST) declared a quarterly dividend on Friday, February 21st, Wall Street Journal reports. Shareholders of record on Monday, March 31st will be paid a dividend of 0.225 per share on Thursday, April 17th. This represents a $0.90 dividend on an annualized basis and a 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% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 one year low of $9.89 and a one year high of $16.86. The business’s fifty day moving average is $10.99 and its 200-day moving average is $12.52. The stock has a market capitalization of $379.44 million, a price-to-earnings ratio of -37.25 and a beta of 2.58. The company has a debt-to-equity ratio of 1.03, a current ratio of 5.24 and a quick ratio of 5.24.

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

Analyst Upgrades and Downgrades

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

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.