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

Whitestone REIT (NYSE:WSR) declared a monthly dividend on Thursday, September 5th, Wall Street Journal reports. Investors of record on Monday, November 4th will be paid a dividend of 0.0413 per share by the real estate investment trust on Thursday, November 14th. This represents a $0.50 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date is Monday, November 4th.

Whitestone REIT has increased its dividend by an average of 10.1% per year over the last three years. Whitestone REIT has a dividend payout ratio of 37.0% indicating that its dividend is sufficiently covered by earnings. Research 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 Up 0.7 %

Shares of NYSE:WSR opened at $13.10 on Friday. Whitestone REIT has a 1 year low of $9.07 and a 1 year high of $14.48. The company has a market cap of $655.79 million, a PE ratio of 27.29, a P/E/G ratio of 2.11 and a beta of 1.27. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.93 and a quick ratio of 1.93. The stock’s 50-day moving average is $13.47 and its 200 day moving average is $12.69.

Insider Transactions at Whitestone REIT

In related news, Director Julia Bruns Buthman purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were purchased at an average cost of $12.99 per share, with a total value of $64,950.00. Following the transaction, the director now directly owns 8,093 shares in the company, valued at approximately $105,128.07. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 5.50% of the company’s stock.

Analysts Set New Price Targets

WSR has been the topic of a number of research analyst reports. Truist Financial boosted their price target on Whitestone REIT from $14.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. JMP Securities reiterated a “market outperform” rating and set a $15.00 target price on shares of Whitestone REIT in a report on Friday, June 28th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $15.00.

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.