Whitestone REIT (NYSE:WSR) announced a monthly dividend on Wednesday, June 17th, Wall Street Journal reports. Investors of record on Thursday, July 2nd will be given a dividend of 0.035 per share by the real estate investment trust on Friday, July 10th. This represents a $0.42 dividend on an annualized basis and a yield of 5.79%. The ex-dividend date is Wednesday, July 1st.
Whitestone REIT has a payout ratio of 42.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Whitestone REIT to earn $0.86 per share next year, which means the company should continue to be able to cover its $0.42 annual dividend with an expected future payout ratio of 48.8%.
Whitestone REIT stock opened at $7.25 on Tuesday. The company has a market cap of $293.27 million, a price-to-earnings ratio of 13.68 and a beta of 1.40. The firm’s fifty day moving average is $6.60 and its 200 day moving average is $9.62. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 1.98. Whitestone REIT has a 52-week low of $4.70 and a 52-week high of $14.65.
Whitestone REIT (NYSE:WSR) last released its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.15). The business had revenue of $30.58 million for the quarter, compared to analysts’ expectations of $31.09 million. Whitestone REIT had a net margin of 18.75% and a return on equity of 6.42%. On average, equities research analysts anticipate that Whitestone REIT will post 0.82 earnings per share for the current fiscal year.
In related news, CEO James C. Mastandrea purchased 18,000 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were purchased at an average cost of $5.75 per share, for a total transaction of $103,500.00. Following the completion of the acquisition, the chief executive officer now owns 1,221,932 shares in the company, valued at approximately $7,026,109. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.30% of the company’s stock.
WSR has been the topic of a number of recent research reports. JMP Securities assumed coverage on shares of Whitestone REIT in a research note on Monday, June 8th. They set a “market perform” rating on the stock. B. Riley reduced their target price on shares of Whitestone REIT from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Friday, May 15th. Zacks Investment Research downgraded shares of Whitestone REIT from a “hold” rating to a “sell” rating in a research note on Saturday, June 20th. Finally, ValuEngine downgraded shares of Whitestone REIT from a “hold” rating to a “sell” rating in a research note on Wednesday, April 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $11.67.
Whitestone REIT Company Profile
Whitestone is a community-centered retail REIT that acquires, owns, manages, develops and redevelops high quality "E-Commerce resistant" neighborhood, community and lifestyle retail centers principally located in the largest, fastest growing and most affluent markets in the Sunbelt. Whitestone's optimal mix of national, regional and local tenants provides daily necessities, needed services and entertainment to the communities in which they are located.
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