Whitestone REIT (NYSE:WSR) Plans $0.05 Monthly Dividend

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 given 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 is Monday, June 2nd.

Whitestone REIT has increased its dividend by an average of 12.0% per year over the last three years. Whitestone REIT has a dividend payout ratio of 108.0% indicating that 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 Stock Performance

NYSE WSR opened at $14.23 on Friday. Whitestone REIT has a 1 year low of $10.77 and a 1 year high of $15.36. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.17 and a quick ratio of 2.17. The firm has a market cap of $720.90 million, a price-to-earnings ratio of 34.72, a PEG ratio of 2.13 and a beta of 1.29. The company has a fifty day moving average price of $13.56 and a 200-day moving average price of $13.82.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on WSR shares. JMP Securities reissued a “market outperform” rating and issued a $16.00 price target on shares of Whitestone REIT in a report on Tuesday, December 10th. StockNews.com started coverage on shares of Whitestone REIT in a report on Tuesday. They issued a “hold” rating on the stock. Finally, Truist Financial boosted their price target on shares of Whitestone REIT from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, November 29th.

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.