Whitestone REIT (NYSE:WSR) Announces Monthly Dividend of $0.04

Whitestone REIT (NYSE:WSR) announced a monthly dividend on Friday, September 6th, Wall Street Journal reports. Stockholders of record on Tuesday, December 3rd will be given a dividend of 0.0413 per share by the real estate investment trust on Thursday, December 12th. This represents a $0.50 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend is Tuesday, December 3rd.

Whitestone REIT has raised its dividend payment by an average of 10.1% annually over the last three years. Whitestone REIT has a payout ratio of 37.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Whitestone REIT to earn $1.12 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 44.6%.

Whitestone REIT Stock Performance

NYSE WSR opened at $13.10 on Friday. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 1.57. The business has a fifty day simple moving average of $13.47 and a 200 day simple moving average of $12.70. Whitestone REIT has a 12 month low of $9.07 and a 12 month high of $14.48. The firm has a market capitalization of $655.54 million, a P/E ratio of 27.28, a PEG ratio of 2.11 and a beta of 1.27.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WSR. Truist Financial lifted their price target on Whitestone REIT from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. JMP Securities restated a “market outperform” rating and set a $15.00 price target on shares of Whitestone REIT in a research report on Friday, June 28th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $15.00.

Insider Activity at Whitestone REIT

In other Whitestone REIT news, Director Julia Bruns Buthman bought 5,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was purchased at an average price of $12.99 per share, for a total transaction of $64,950.00. Following the completion of the transaction, the director now directly owns 8,093 shares of the company’s stock, valued at $105,128.07. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 5.50% of the stock is currently owned by company insiders.

Whitestone REIT Company Profile

Whitestone REIT (NYSE: WSR) is a community-centered real estate investment trust (REIT) that acquires, owns, operates, and develops open-air, retail centers located in some of the fastest growing markets in the country: Phoenix, Austin, Dallas-Fort Worth, Houston and San Antonio. Our centers are convenience focused: merchandised with a mix of service-oriented tenants providing food (restaurants and grocers), self-care (health and fitness), services (financial and logistics), education and entertainment to the surrounding communities.