Peakstone Realty Trust (PKST) to Issue Quarterly Dividend of $0.23 on July 18th

Peakstone Realty Trust (NYSE:PKST) declared a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Shareholders of record on Friday, June 28th will be given a dividend of 0.225 per share on Thursday, July 18th. This represents a $0.90 annualized dividend and a yield of 6.04%. The ex-dividend date of this dividend is Friday, June 28th.

Peakstone Realty Trust has a 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

NYSE:PKST opened at $14.90 on Friday. The firm’s fifty day simple moving average is $14.62 and its 200-day simple moving average is $15.62. The company has a quick ratio of 5.89, a current ratio of 5.89 and a debt-to-equity ratio of 1.19. The stock has a market cap of $540.96 million and a PE ratio of -0.96. Peakstone Realty Trust has a fifty-two week low of $12.10 and a fifty-two week high of $39.91.

Peakstone Realty Trust (NYSE:PKST) last issued its earnings results on Thursday, February 22nd. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of $0.65 by ($1.20). The company had revenue of $63.06 million for the quarter, compared to analyst estimates of $62.07 million. Peakstone Realty Trust had a negative return on equity of 38.73% and a negative net margin of 216.52%. Analysts expect that Peakstone Realty Trust will post 3.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Truist Financial dropped their price target on Peakstone Realty Trust from $17.00 to $15.00 and set a “hold” rating for the company 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.