Whitestone REIT (NYSE:WSR) Plans Monthly Dividend of $0.04

Whitestone REIT (NYSE:WSR) declared a monthly dividend on Wednesday, September 4th, NASDAQ reports. Investors of record on Wednesday, October 2nd will be paid a dividend of 0.0413 per share by the real estate investment trust on Thursday, October 10th. This represents a $0.50 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend is Wednesday, October 2nd.

Whitestone REIT has raised its dividend payment by an average of 10.1% annually over the last three years. Whitestone REIT has a payout ratio of 37.0% meaning its dividend is sufficiently covered by earnings. Research 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 Price Performance

WSR traded up $0.09 on Thursday, reaching $13.10. The company had a trading volume of 216,950 shares, compared to its average volume of 332,437. The company has a fifty day moving average of $13.47 and a 200-day moving average of $12.69. The company has a market capitalization of $654.48 million, a P/E ratio of 27.29, a PEG ratio of 2.17 and a beta of 1.27. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 1.57. Whitestone REIT has a one year low of $9.07 and a one year high of $14.48.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Truist Financial increased their target price on shares of Whitestone REIT from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. JMP Securities reiterated a “market outperform” rating and issued a $15.00 target price on shares of Whitestone REIT in a research report on Friday, June 28th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Whitestone REIT has a consensus rating of “Moderate Buy” and an average price target of $15.00.

About Whitestone REIT

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.