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

by · The Markets Daily

Peakstone Realty Trust (NYSE:PKST – Get Free Report) declared a quarterly dividend on Thursday, August 8th, 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 6.46%. The ex-dividend date is Monday, September 30th.

Peakstone Realty Trust has a payout ratio of -169.8% 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 $2.49 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 36.1%.

Peakstone Realty Trust Stock Performance

Shares of Peakstone Realty Trust stock opened at $13.93 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 8.03 and a quick ratio of 8.03. The firm has a market cap of $506.77 million, a price-to-earnings ratio of -0.90 and a beta of 2.63. The stock’s 50-day moving average is $13.37 and its 200-day moving average is $13.32. Peakstone Realty Trust has a one year low of $9.89 and a one year high of $21.73.

Analyst Ratings Changes

Separately, Truist Financial cut their target price on Peakstone Realty Trust from $16.00 to $13.00 and set a “hold” rating on the stock in a research note on Wednesday, August 21st.

Get Our Latest Analysis on Peakstone Realty Trust

About Peakstone Realty Trust

(Get Free Report)

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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