Peakstone Realty Trust (PKST) to Issue Quarterly Dividend of $0.23 on April 17th

Peakstone Realty Trust (NYSE:PKST) announced 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% indicating that 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 Price Performance

Peakstone Realty Trust stock opened at $12.46 on Friday. Peakstone Realty Trust has a 52 week low of $9.89 and a 52 week high of $16.26. The firm has a market cap of $458.08 million, a P/E ratio of -44.51 and a beta of 2.41. The company has a debt-to-equity ratio of 1.03, a quick ratio of 5.24 and a current ratio of 5.24. The business’s fifty day moving average is $11.40 and its two-hundred day moving average is $12.41.

Peakstone Realty Trust (NYSE:PKST) last announced its earnings results on Thursday, February 20th. The company reported $0.65 earnings per share for the quarter, topping 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%. Equities research analysts forecast that Peakstone Realty Trust will post 2.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.