Peakstone Realty Trust (PKST) To Go Ex-Dividend on March 31st

Peakstone Realty Trust (NYSE:PKST) announced a quarterly dividend on Friday, February 21st, Wall Street Journal reports. Shareholders of record on Monday, March 31st will be paid a dividend of 0.225 per share on Thursday, April 17th. This represents a $0.90 annualized dividend and a dividend yield of 8.63%. The ex-dividend date of this dividend is Monday, March 31st.

Peakstone Realty Trust has a payout ratio of -214.3% meaning 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 $2.07 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 Price Performance

Shares of NYSE PKST opened at $10.43 on Friday. The firm has a market capitalization of $379.44 million, a P/E ratio of -37.25 and a beta of 2.58. Peakstone Realty Trust has a one year low of $9.89 and a one year high of $16.86. The company’s fifty day moving average is $10.99 and its two-hundred day moving average is $12.53. The company has a debt-to-equity ratio of 1.03, a quick ratio of 5.24 and a current ratio of 5.24.

Peakstone Realty Trust (NYSE:PKST) last issued its earnings results on Thursday, February 20th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of ($0.20) by $0.85. The company had revenue of $57.93 million for the quarter, compared to analyst estimates of $54.68 million. Peakstone Realty Trust had a negative net margin of 4.38% and a negative return on equity of 0.85%. Analysts forecast that Peakstone Realty Trust will post 2.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PKST. UBS Group began coverage on Peakstone Realty Trust in a research note on Thursday, January 16th. They set a “buy” rating and a $15.00 price target for the company. Truist Financial lifted their price target on Peakstone Realty Trust from $13.00 to $15.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th.

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.