Peakstone Realty Trust (NYSE:PKST) Issues Quarterly Earnings Results, Beats Expectations By $0.85 EPS

Peakstone Realty Trust (NYSE:PKST) posted its earnings results on Thursday. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.85, Zacks reports. Peakstone Realty Trust had a negative return on equity of 0.85% and a negative net margin of 4.38%. The firm had revenue of $57.93 million during the quarter, compared to analyst estimates of $54.68 million.

Peakstone Realty Trust Stock Performance

Shares of PKST traded down $0.24 on Friday, reaching $10.43. 238,636 shares of the stock traded hands, compared to its average volume of 146,957. The firm has a market cap of $379.44 million, a price-to-earnings ratio of -37.25 and a beta of 2.58. The company has a debt-to-equity ratio of 1.03, a current ratio of 5.24 and a quick ratio of 5.24. Peakstone Realty Trust has a 12 month low of $9.89 and a 12 month high of $16.86. The stock’s 50-day moving average price is $10.99 and its 200-day moving average price is $12.52.

Peakstone Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be given a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 8.63%. The ex-dividend date of this dividend is Monday, March 31st. Peakstone Realty Trust’s dividend payout ratio is currently -321.42%.

Analyst Ratings Changes

PKST has been the subject of several analyst reports. UBS Group initiated coverage on Peakstone Realty Trust in a report on Thursday, January 16th. They issued a “buy” rating and a $15.00 target price for the company. Truist Financial boosted their target price on Peakstone Realty Trust from $13.00 to $15.00 and gave the stock a “hold” rating in a report 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.