Whitestone REIT (NYSE:WSR) Declares $0.05 Monthly Dividend

Whitestone REIT (NYSE:WSR) announced a monthly dividend on Monday, March 10th, Wall Street Journal reports. Stockholders of record on Monday, June 2nd will be given a dividend of 0.045 per share by the real estate investment trust on Thursday, June 12th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date is Monday, June 2nd.

Whitestone REIT has increased its dividend payment by an average of 12.0% annually over the last three years. Whitestone REIT has a dividend payout ratio of 108.0% 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 Whitestone REIT to earn $1.05 per share next year, which means the company should continue to be able to cover its $0.54 annual dividend with an expected future payout ratio of 51.4%.

Whitestone REIT Trading Down 0.2 %

NYSE:WSR opened at $14.24 on Tuesday. The firm’s fifty day moving average is $13.57 and its 200-day moving average is $13.83. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.17 and a current ratio of 2.17. Whitestone REIT has a 52 week low of $10.77 and a 52 week high of $15.36. The firm has a market cap of $720.95 million, a P/E ratio of 34.72, a P/E/G ratio of 2.13 and a beta of 1.29.

Analyst Ratings Changes

WSR has been the topic of a number of analyst reports. StockNews.com initiated coverage on shares of Whitestone REIT in a research note on Tuesday, March 4th. They issued a “hold” rating on the stock. Truist Financial upped their price objective on shares of Whitestone REIT from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 29th. Finally, JMP Securities reiterated a “market outperform” rating and set a $16.00 target price on shares of Whitestone REIT in a research report on Tuesday, December 10th.

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.