Whitestone REIT (WSR) to Issue Dividend of $0.04 on July 11th

Whitestone REIT (NYSE:WSR) announced a dividend on Thursday, July 4th, investing.com reports. Shareholders of record on Monday, July 8th will be paid a dividend of 0.0413 per share by the real estate investment trust on Thursday, July 11th. This represents a yield of 3.75%. The ex-dividend date is Friday, July 5th. This is a positive change from Whitestone REIT’s previous dividend of $0.04.

Whitestone REIT has raised its dividend by an average of 10.1% per year over the last three years. Whitestone REIT has a payout ratio of 47.2% meaning its dividend is sufficiently covered by earnings. Equities 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

Shares of NYSE:WSR traded up $0.03 during midday trading on Thursday, hitting $13.21. The stock had a trading volume of 109,376 shares, compared to its average volume of 339,091. The company has a market capitalization of $659.97 million, a P/E ratio of 27.52, a price-to-earnings-growth ratio of 2.13 and a beta of 1.27. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 1.51. The company’s 50-day moving average price is $12.70 and its 200-day moving average price is $12.35. Whitestone REIT has a fifty-two week low of $9.07 and a fifty-two week high of $13.49.

Whitestone REIT (NYSE:WSR) last announced its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.06). The company had revenue of $37.16 million for the quarter, compared to the consensus estimate of $38.00 million. Whitestone REIT had a net margin of 16.64% and a return on equity of 5.77%. During the same period last year, the firm posted $0.24 earnings per share. As a group, equities research analysts predict that Whitestone REIT will post 1.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

WSR has been the topic of a number of recent analyst reports. JMP Securities restated a “market outperform” rating and issued a $15.00 price target on shares of Whitestone REIT in a research report on Friday, June 28th. Alliance Global Partners initiated coverage on shares of Whitestone REIT in a research report on Monday, March 18th. They issued a “buy” rating and a $15.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $13.63.

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.