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

Peakstone Realty Trust (NYSE:PKST) announced a quarterly dividend on Monday, August 12th, Wall Street Journal reports. Shareholders of record on Monday, September 30th will be given a dividend of 0.225 per share on Thursday, October 17th. This represents a $0.90 dividend on an annualized basis and a yield of 7.67%. The ex-dividend date of this dividend is Monday, September 30th.

Peakstone Realty Trust has a dividend payout ratio of -169.8% 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 analysts expect Peakstone Realty Trust to earn $2.39 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 37.7%.

Peakstone Realty Trust Stock Down 2.2 %

Shares of NYSE PKST traded down $0.26 during mid-day trading on Monday, reaching $11.74. The company had a trading volume of 147,836 shares, compared to its average volume of 161,379. The firm has a 50 day simple moving average of $12.06 and a two-hundred day simple moving average of $13.60. Peakstone Realty Trust has a 52-week low of $9.89 and a 52-week high of $22.69. The company has a current ratio of 7.90, a quick ratio of 7.90 and a debt-to-equity ratio of 1.18. The stock has a market cap of $426.23 million, a P/E ratio of -0.77 and a beta of 2.63.

Analysts Set New Price Targets

Separately, Truist Financial cut their target price on Peakstone Realty Trust from $17.00 to $15.00 and set a “hold” rating on the stock 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.