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

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 given a dividend of 0.225 per share on Thursday, April 17th. This represents a $0.90 annualized dividend and a yield of 8.63%. The ex-dividend date 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. Analysts expect Peakstone Realty Trust to earn $2.13 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 42.3%.

Peakstone Realty Trust Stock Performance

PKST traded down $0.24 during trading on Friday, hitting $10.43. The company’s stock had a trading volume of 175,573 shares, compared to its average volume of 167,482. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 1.03. Peakstone Realty Trust has a one year low of $9.89 and a one year high of $16.86. The firm has a market cap of $379.44 million, a PE ratio of -8.84 and a beta of 2.58. The business’s 50 day simple moving average is $11.03 and its 200-day simple moving average is $12.53.

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, topping the consensus estimate of ($0.20) by $0.85. Peakstone Realty Trust had a negative net margin of 18.26% and a negative return on equity of 3.61%. The business had revenue of $57.93 million for the quarter, compared to the consensus estimate of $54.68 million. As a group, sell-side analysts predict that Peakstone Realty Trust will post 2.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on PKST shares. UBS Group started coverage on shares of Peakstone Realty Trust in a research report on Thursday, January 16th. They set a “buy” rating and a $15.00 price objective on the stock. Truist Financial raised 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 report on Tuesday, November 12th.

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.