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

Whitestone REIT (NYSE:WSR) declared a monthly dividend on Wednesday, December 4th, Wall Street Journal reports. Stockholders of record on Monday, March 3rd will be given a dividend of 0.045 per share by the real estate investment trust on Tuesday, March 11th. This represents a $0.54 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend is Monday, March 3rd.

Whitestone REIT has raised its dividend payment by an average of 12.0% annually over the last three years. Whitestone REIT has a payout ratio of 96.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research 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 Price Performance

WSR stock opened at $13.62 on Friday. The company has a fifty day moving average price of $13.61 and a 200-day moving average price of $13.80. The company has a market capitalization of $689.55 million, a P/E ratio of 33.21, a PEG ratio of 2.13 and a beta of 1.26. Whitestone REIT has a 52-week low of $10.77 and a 52-week high of $15.36. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.17 and a current ratio of 2.17.

Wall Street Analyst Weigh In

WSR has been the subject of a number of analyst reports. Truist Financial lifted their target price on shares of Whitestone REIT from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. JMP Securities reissued a “market outperform” rating and set a $16.00 target price on shares of Whitestone REIT in a research note on Tuesday, December 10th. Finally, StockNews.com initiated coverage on shares of Whitestone REIT in a research note on Monday, February 24th. They set a “hold” rating for the company.

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.