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

Peakstone Realty Trust (NYSE:PKST) declared a quarterly dividend on Thursday, February 20th, 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 annualized dividend and a dividend yield of 7.22%. The ex-dividend date of this dividend is Monday, March 31st.

Peakstone Realty Trust has a payout ratio of -281.3% 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 $2.07 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 Stock Performance

PKST opened at $12.46 on Friday. 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 capitalization of $458.08 million, a PE ratio of -44.51 and a beta of 2.41. The business has a fifty day simple moving average of $11.40 and a 200 day simple moving average of $12.41. Peakstone Realty Trust has a 1 year low of $9.89 and a 1 year high of $16.26.

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PKST. UBS Group started coverage on Peakstone Realty Trust in a research report on Thursday, January 16th. They set a “buy” rating and a $15.00 price objective for the company. Truist Financial increased their target price on shares of Peakstone Realty Trust from $13.00 to $15.00 and gave the stock a “hold” rating in a report on Monday, March 24th.

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.