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

by · The Cerbat Gem

Peakstone Realty Trust (NYSE:PKST – Get Free Report) declared a quarterly dividend on Friday, February 21st, Wall Street Journal reports. Shareholders of record on Monday, March 31st will be paid a dividend of 0.225 per share on Thursday, April 17th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 8.63%. The ex-dividend date of this dividend is Monday, March 31st.

Peakstone Realty Trust has a payout ratio of -214.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research 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 Price Performance

Shares of NYSE:PKST traded down $0.24 on Friday, reaching $10.43. The company’s stock had a trading volume of 175,573 shares, compared to its average volume of 167,482. Peakstone Realty Trust has a 52-week low of $9.89 and a 52-week high of $16.86. The company has a market cap of $379.44 million, a P/E ratio of -8.84 and a beta of 2.58. The company has a 50-day simple moving average of $11.03 and a 200 day simple moving average of $12.53. The company has a debt-to-equity ratio of 1.03, a quick ratio of 5.24 and a current ratio of 5.24.

Peakstone Realty Trust (NYSE:PKST – Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $57.93 million during the quarter, compared to analysts’ expectations of $54.68 million. As a group, equities research analysts anticipate that Peakstone Realty Trust will post 2.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PKST shares. UBS Group started coverage on shares of Peakstone Realty Trust in a research note on Thursday, January 16th. They set a “buy” rating and a $15.00 price target for the company. Truist Financial lifted their price target on shares of Peakstone Realty Trust from $13.00 to $15.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th.

View Our Latest Report on Peakstone Realty Trust

About Peakstone Realty Trust

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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.

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