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

Peakstone Realty Trust (NYSE:PKST) announced a quarterly dividend on Thursday, October 31st, 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 dividend yield of 6.86%. The ex-dividend date of this dividend is Tuesday, December 31st.

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. 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 Down 0.9 %

Shares of PKST stock opened at $13.12 on Friday. The stock’s 50 day simple moving average is $13.76 and its 200 day simple moving average is $13.04. Peakstone Realty Trust has a twelve month low of $9.89 and a twelve month high of $21.73. The company has a debt-to-equity ratio of 1.19, a current ratio of 8.03 and a quick ratio of 8.03.

Analysts Set New Price Targets

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

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.