Peakstone Realty Trust (NYSE:PKST – Get Free Report) declared a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Shareholders of record on Friday, June 28th will be paid a dividend of 0.225 per share on Thursday, July 18th. This represents a $0.90 annualized dividend and a yield of 6.69%. The ex-dividend date of this dividend is Friday, June 28th.
Peakstone Realty Trust has a payout ratio of 3,000.0% 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 $2.92 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 30.8%.
Peakstone Realty Trust Stock Down 2.2 %
Shares of NYSE PKST opened at $13.45 on Thursday. The company has a current ratio of 5.89, a quick ratio of 5.89 and a debt-to-equity ratio of 1.19. Peakstone Realty Trust has a 12 month low of $12.10 and a 12 month high of $39.91. The firm has a market capitalization of $488.37 million and a PE ratio of -0.87. The firm has a fifty day simple moving average of $14.62 and a two-hundred day simple moving average of $15.63.
Analysts Set New Price Targets
Separately, Truist Financial cut their price objective on shares of 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.
Read Our Latest Stock Report on Peakstone Realty Trust
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.
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