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

Peakstone Realty Trust (NYSE:PKST) announced a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Investors of record on Friday, June 28th will be paid a dividend of 0.225 per share on Thursday, July 18th. This represents a $0.90 annualized dividend and a yield of 6.73%. The ex-dividend date of this dividend is Friday, June 28th.

Peakstone Realty Trust has a dividend payout ratio of 3,000.0% indicating that 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 Stock Performance

Shares of NYSE:PKST traded down $0.38 on Wednesday, hitting $13.37. 78,497 shares of the company were exchanged, compared to its average volume of 155,410. Peakstone Realty Trust has a one year low of $12.10 and a one year high of $39.91. The firm has a market capitalization of $485.46 million and a price-to-earnings ratio of -0.89. The company’s 50 day moving average price is $14.63 and its two-hundred day moving average price is $15.63. 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 (NYSE:PKST) last issued its 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). Peakstone Realty Trust had a negative net margin of 216.52% and a negative return on equity of 38.73%. The firm had revenue of $63.06 million during the quarter, compared to analyst estimates of $62.07 million. Research analysts expect that Peakstone Realty Trust will post 3.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Truist Financial decreased their price target on Peakstone Realty Trust from $17.00 to $15.00 and set a “hold” rating on the stock in a research 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.