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

Whitestone REIT (NYSE:WSR) declared a monthly dividend on Friday, September 6th, Wall Street Journal reports. Investors of record on Tuesday, December 3rd will be given a dividend of 0.0413 per share by the real estate investment trust on Thursday, December 12th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend is Tuesday, December 3rd.

Whitestone REIT has raised its dividend payment by an average of 10.1% annually over the last three years. Whitestone REIT has a dividend payout ratio of 37.0% meaning its dividend is sufficiently covered by earnings. 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 Stock Down 0.2 %

Shares of Whitestone REIT stock traded down $0.03 during trading on Friday, reaching $13.07. 105,712 shares of the company traded hands, compared to its average volume of 331,140. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.93 and a quick ratio of 1.93. Whitestone REIT has a 1-year low of $9.07 and a 1-year high of $14.48. The company has a 50 day moving average price of $13.47 and a 200-day moving average price of $12.69. The firm has a market capitalization of $654.28 million, a PE ratio of 27.29, a P/E/G ratio of 2.11 and a beta of 1.27.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Truist Financial boosted 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 restated a “market outperform” rating and set a $15.00 price target on shares of Whitestone REIT in a research note on Friday, June 28th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Whitestone REIT currently has an average rating of “Moderate Buy” and an average target price of $15.00.

Insider Transactions at Whitestone REIT

In other news, Director Julia Bruns Buthman bought 5,000 shares of Whitestone REIT stock in a transaction dated Wednesday, September 4th. The stock was purchased at an average price of $12.99 per share, for a total transaction of $64,950.00. Following the purchase, the director now directly owns 8,093 shares in the company, valued at approximately $105,128.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 5.50% of the company’s 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.