Whitestone REIT (NYSE:WSR) Declares $0.04 Monthly Dividend

Whitestone REIT (NYSE:WSR) declared a monthly dividend on Tuesday, June 11th, Wall Street Journal reports. Shareholders of record on Friday, August 2nd will be paid a dividend of 0.0413 per share by the real estate investment trust on Wednesday, August 14th. This represents a $0.50 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend is Friday, August 2nd.

Whitestone REIT has raised its dividend payment by an average of 10.1% per year over the last three years. Whitestone REIT has a dividend payout ratio of 47.2% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 1.7 %

WSR stock opened at $13.80 on Thursday. The company has a market capitalization of $689.45 million, a PE ratio of 28.75, a P/E/G ratio of 2.27 and a beta of 1.27. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.09 and a quick ratio of 2.09. Whitestone REIT has a 12 month low of $9.07 and a 12 month high of $14.48. The firm’s 50-day moving average is $13.35 and its 200 day moving average is $12.57.

Whitestone REIT (NYSE:WSR) last released its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.06). The firm had revenue of $37.16 million during the quarter, compared to the consensus estimate of $38.00 million. Whitestone REIT had a net margin of 16.64% and a return on equity of 5.77%. During the same quarter in the previous year, the firm earned $0.24 earnings per share. On average, research analysts anticipate that Whitestone REIT will post 1.03 EPS for the current year.

Wall Street Analyst Weigh In

Separately, JMP Securities restated a “market outperform” rating and set a $15.00 target price on shares of Whitestone REIT in a report on Friday, June 28th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Whitestone REIT has an average rating of “Moderate Buy” and a consensus price target 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.