Whitestone REIT (NYSE:WSR) Releases Earnings Results, Misses Expectations By $0.06 EPS

Whitestone REIT (NYSE:WSR - Get Free Report) posted its quarterly earnings results on Wednesday. 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), Zacks reports. The company had revenue of $37.16 million during the quarter, compared to analyst estimates of $38.00 million. Whitestone REIT had a return on equity of 4.51% and a net margin of 13.05%. During the same quarter in the prior year, the business earned $0.24 earnings per share. Whitestone REIT updated its FY 2024 guidance to 0.980-1.040 EPS.

Whitestone REIT Price Performance

Shares of Whitestone REIT stock traded up $0.17 during trading on Thursday, hitting $11.77. 374,135 shares of the company's stock traded hands, compared to its average volume of 321,110. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.80 and a quick ratio of 1.80. The firm's fifty day moving average price is $11.84 and its 200 day moving average price is $11.67. Whitestone REIT has a twelve month low of $8.21 and a twelve month high of $13.12. The company has a market cap of $588.03 million, a PE ratio of 30.97, a PEG ratio of 1.92 and a beta of 1.19.

Whitestone REIT Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Tuesday, June 4th will be given a dividend of $0.0413 per share. The ex-dividend date is Tuesday, June 4th. This represents a $0.50 annualized dividend and a dividend yield of 4.21%. Whitestone REIT's dividend payout ratio (DPR) is currently 131.58%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on WSR. Truist Financial upgraded shares of Whitestone REIT from a "hold" rating to a "buy" rating and raised their price target for the stock from $11.00 to $13.50 in a research report on Tuesday, January 16th. Alliance Global Partners began 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. B. Riley restated a "neutral" rating on shares of Whitestone REIT in a research report on Friday, February 2nd. Finally, JMP Securities reiterated a "market outperform" rating and set a $15.00 target price on shares of Whitestone REIT in a research report on Wednesday, April 10th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.