Whitestone REIT (NYSE:WSR) Raises Dividend to $0.05 Per Share

Whitestone REIT (NYSE:WSR) declared a monthly dividend on Thursday, December 5th, Wall Street Journal reports. Stockholders of record on Monday, March 3rd will be paid a dividend of 0.045 per share by the real estate investment trust on Tuesday, March 11th. This represents a $0.54 annualized dividend and a dividend yield of 3.97%. The ex-dividend date is Monday, March 3rd. This is a boost from Whitestone REIT’s previous monthly dividend of $0.04.

Whitestone REIT has increased its dividend by an average of 12.0% per year over the last three years. Whitestone REIT has a dividend payout ratio of 96.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 Stock Performance

WSR stock opened at $13.62 on Friday. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.17 and a quick ratio of 2.17. The company has a 50 day moving average price of $13.61 and a 200 day moving average price of $13.80. Whitestone REIT has a fifty-two week low of $10.77 and a fifty-two week high of $15.36. The stock has a market capitalization of $689.55 million, a PE ratio of 33.21, a price-to-earnings-growth ratio of 2.13 and a beta of 1.26.

Analyst Ratings Changes

WSR has been the subject of several research analyst reports. Truist Financial boosted their price objective on shares of Whitestone REIT from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. StockNews.com initiated coverage on shares of Whitestone REIT in a research report on Monday, February 24th. They issued a “hold” rating for the company. Finally, JMP Securities restated a “market outperform” rating and issued a $16.00 price objective 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.