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

Posted by Eileen French on Aug 12th, 2024

Peakstone Realty Trust (NYSE:PKST – Get Free Report) declared a quarterly dividend on Monday, August 12th, Wall Street Journal reports. Shareholders of record on Monday, September 30th will be paid a dividend of 0.225 per share on Thursday, October 17th. This represents a $0.90 annualized dividend and a yield of 7.67%. The ex-dividend date of this dividend 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 $2.39 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 Trading Down 2.2 %

Shares of PKST traded down $0.26 during trading hours on Monday, reaching $11.74. 147,836 shares of the company traded hands, compared to its average volume of 161,379. Peakstone Realty Trust has a 12 month low of $9.89 and a 12 month high of $22.69. The company has a quick ratio of 7.90, a current ratio of 7.90 and a debt-to-equity ratio of 1.18. The company’s fifty day moving average price is $12.06 and its two-hundred day moving average price is $13.60. The company has a market capitalization of $426.23 million, a price-to-earnings ratio of -0.77 and a beta of 2.63.

Wall Street Analyst Weigh In

Separately, Truist Financial cut their price objective 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.

View Our Latest Research Report on Peakstone Realty Trust

Peakstone Realty Trust Company Profile

(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.