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

Peakstone Realty Trust (NYSE:PKST - Get Free Report) announced 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 dividend on an annualized basis and a yield of 6.69%. The ex-dividend date is Friday, June 28th.

Peakstone Realty Trust has a dividend 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 Down 2.2 %

PKST stock traded down $0.30 during trading on Wednesday, reaching $13.45. The stock had a trading volume of 100,981 shares, compared to its average volume of 155,700. Peakstone Realty Trust has a one year low of $12.10 and a one year high of $39.91. 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 company's 50 day moving average is $14.62 and its two-hundred day moving average is $15.63. The company has a market capitalization of $488.37 million and a price-to-earnings ratio of -0.87.

Peakstone Realty Trust (NYSE:PKST - Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.65 by ($1.20). Peakstone Realty Trust had a negative return on equity of 38.73% and a negative net margin of 216.52%. The firm had revenue of $63.06 million during the quarter, compared to the consensus estimate of $62.07 million. Equities research analysts forecast that Peakstone Realty Trust will post 3.03 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Truist Financial reduced their target price on shares of 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.