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

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 paid a dividend of 0.225 per share on Thursday, July 18th. This represents a $0.90 annualized dividend and a yield of 6.73%. The ex-dividend date of this dividend is Friday, June 28th.

Peakstone Realty Trust has a dividend payout ratio of 3,000.0% meaning 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 $2.92 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 Price Performance

Shares of PKST stock traded down $0.38 during midday trading on Wednesday, reaching $13.37. 78,497 shares of the company traded hands, compared to its average volume of 155,410. The firm has a market cap of $485.46 million and a PE ratio of -0.89. The company has a debt-to-equity ratio of 1.19, a current ratio of 5.89 and a quick ratio of 5.89. The firm’s 50 day simple moving average is $14.63 and its two-hundred day simple moving average is $15.63. Peakstone Realty Trust has a 1-year low of $12.10 and a 1-year high of $39.91.

Peakstone Realty Trust (NYSE:PKST) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($1.20). The firm 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%. On average, equities research analysts expect that Peakstone Realty Trust will post 3.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Truist Financial dropped their price objective 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.

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.