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

Peakstone Realty Trust (NYSE:PKST) declared a quarterly dividend on Wednesday, October 30th,Wall Street Journal reports. Shareholders of record on Tuesday, December 31st will be paid a dividend of 0.225 per share on Friday, January 17th. This represents a $0.90 dividend on an annualized basis and a yield of 8.13%. The ex-dividend date is Tuesday, December 31st.

Peakstone Realty Trust has a payout ratio of 2,250.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Peakstone Realty Trust to earn $2.15 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 41.9%.

Peakstone Realty Trust Trading Down 0.9 %

Shares of Peakstone Realty Trust stock opened at $11.07 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 5.24 and a current ratio of 5.24. The firm has a 50-day moving average of $12.90 and a 200-day moving average of $12.88. Peakstone Realty Trust has a 52-week low of $9.89 and a 52-week high of $21.73. The stock has a market cap of $402.75 million, a PE ratio of -9.38 and a beta of 2.50.

Wall Street Analyst Weigh In

Separately, Truist Financial raised their target price on shares of Peakstone Realty Trust from $13.00 to $15.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th.

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.