Peakstone Realty Trust (NYSE:PKST) to Issue $0.10 Quarterly Dividend

Key Points

• Peakstone Realty Trust announced a quarterly dividend of $0.10 per share, with an annualized yield of 3.1%, set to be paid on October 17th to investors of record on September 30th.
• The company has a concerning payout ratio of -529.4%, indicating reliance on its balance sheet to fund dividends, although analysts predict a future payout ratio of 43.5% when earnings increase.
• Stock performance has seen recent fluctuations, with analysts giving mixed reviews; Zacks downgraded the stock to "strong sell", while UBS and Truist upgraded it to "buy" with target prices increasing.

Peakstone Realty Trust (NYSE:PKST - Get Free Report) announced a quarterly dividend on Thursday, August 7th. Investors of record on Tuesday, September 30th will be given a dividend of 0.10 per share on Friday, October 17th. This represents a c) annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 30th.

Peakstone Realty Trust has a payout ratio of -529.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Stock Performance

Peakstone Realty Trust stock traded down $0.14 during mid-day trading on Friday, reaching $13.06. 142,161 shares of the company were exchanged, compared to its average volume of 185,412. The firm has a market cap of $480.38 million, a PE ratio of -1.47 and a beta of 1.76. The firm's 50-day simple moving average is $13.23 and its two-hundred day simple moving average is $12.78. Peakstone Realty Trust has a twelve month low of $10.14 and a twelve month high of $14.80. The company has a debt-to-equity ratio of 1.61, a quick ratio of 5.02 and a current ratio of 5.02.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Zacks Research cut shares of Peakstone Realty Trust from a "hold" rating to a "strong sell" rating in a report on Monday, September 15th. UBS Group boosted their price objective on Peakstone Realty Trust from $15.00 to $16.00 and gave the company a "buy" rating in a report on Friday, August 15th. Finally, Truist Financial upgraded Peakstone Realty Trust from a "hold" rating to a "buy" rating and increased their target price for the company from $16.00 to $19.00 in a report on Wednesday, September 3rd. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $17.50.

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.

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