Whitestone REIT (NYSE:WSR) Issues Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Whitestone REIT (NYSE:WSR) announced its quarterly earnings results on Wednesday. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.06), Zacks reports. Whitestone REIT had a return on equity of 5.77% and a net margin of 16.64%. The business had revenue of $37.16 million for the quarter, compared to the consensus estimate of $38.00 million. During the same quarter in the prior year, the business earned $0.24 EPS. Whitestone REIT updated its FY 2024 guidance to 0.980-1.040 EPS.

Whitestone REIT Trading Down 1.7 %

Shares of NYSE WSR opened at $11.59 on Friday. Whitestone REIT has a 1-year low of $8.21 and a 1-year high of $13.12. The company has a 50-day moving average of $11.81 and a two-hundred day moving average of $11.69. The company has a market cap of $578.79 million, a PE ratio of 24.14, a P/E/G ratio of 1.96 and a beta of 1.19. The company has a current ratio of 2.09, a quick ratio of 1.80 and a debt-to-equity ratio of 1.51.

Whitestone REIT Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Tuesday, June 4th will be given a $0.0413 dividend. This represents a $0.50 annualized dividend and a yield of 4.27%. The ex-dividend date of this dividend is Tuesday, June 4th. Whitestone REIT’s payout ratio is presently 104.17%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Alliance Global Partners started coverage on Whitestone REIT in a research report on Monday, March 18th. They set a “buy” rating and a $15.00 target price for the company. B. Riley reaffirmed a “neutral” rating on shares of Whitestone REIT in a report on Friday, February 2nd. JMP Securities restated a “market outperform” rating and issued a $15.00 price target on shares of Whitestone REIT in a research report on Wednesday, April 10th. Finally, Truist Financial raised shares of Whitestone REIT from a “hold” rating to a “buy” rating and raised their price objective for the stock from $11.00 to $13.50 in a report on Tuesday, January 16th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $13.63.

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.