Whitestone REIT Announces Monthly Dividend of $0.05 (NYSE:WSR)

Whitestone REIT (NYSE:WSR) announced a monthly dividend on Friday, March 7th, Wall Street Journal reports. Stockholders of record on Monday, June 2nd will be paid a dividend of 0.045 per share by the real estate investment trust on Thursday, June 12th. This represents a $0.54 annualized dividend and a dividend yield of 3.79%. The ex-dividend date of this dividend is Monday, June 2nd.

Whitestone REIT has raised its dividend payment by an average of 12.0% per year over the last three years. Whitestone REIT has a payout ratio of 108.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Up 3.7 %

WSR traded up $0.50 during trading hours on Friday, reaching $14.23. 446,609 shares of the company’s stock traded hands, compared to its average volume of 268,022. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 1.49. The firm has a 50-day moving average price of $13.56 and a 200 day moving average price of $13.82. Whitestone REIT has a 52-week low of $10.77 and a 52-week high of $15.36. The firm has a market capitalization of $720.90 million, a PE ratio of 34.72, a PEG ratio of 2.13 and a beta of 1.26.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $16.00 price target on shares of Whitestone REIT in a research note on Tuesday, December 10th. Truist Financial lifted their price target 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, StockNews.com assumed coverage on Whitestone REIT in a research report on Tuesday. They set a “hold” rating on the stock.

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.