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

Whitestone REIT (NYSE:WSR - Get Free Report) announced a monthly dividend on Wednesday, June 11th, Wall Street Journal reports. Investors of record on Tuesday, September 2nd will be paid a dividend of 0.045 per share by the real estate investment trust on Thursday, September 11th. This represents a $0.54 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date of this dividend is Tuesday, September 2nd.

Whitestone REIT has a dividend payout ratio of 128.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Stock Performance

Whitestone REIT stock traded down $0.04 during mid-day trading on Friday, hitting $12.38. The company had a trading volume of 228,278 shares, compared to its average volume of 264,734. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 1.49. Whitestone REIT has a 12-month low of $11.78 and a 12-month high of $15.36. The company's fifty day moving average is $12.67 and its 200-day moving average is $13.49. The company has a market capitalization of $630.09 million, a price-to-earnings ratio of 30.20, a P/E/G ratio of 2.13 and a beta of 0.92.

Whitestone REIT (NYSE:WSR - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. Whitestone REIT had a return on equity of 4.98% and a net margin of 13.97%. The business had revenue of $37.40 million for the quarter, compared to analyst estimates of $38.95 million. Equities research analysts predict that Whitestone REIT will post 0.99 EPS for the current year.

Insider Activity

In other Whitestone REIT news, Director Donald A. Miller acquired 5,000 shares of the stock in a transaction dated Wednesday, May 28th. The stock was acquired at an average price of $12.35 per share, with a total value of $61,750.00. Following the completion of the purchase, the director now owns 21,708 shares in the company, valued at $268,093.80. This trade represents a 29.93% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Wall Street Zen upgraded Whitestone REIT to a "sell" rating in a research report on Saturday. Truist Financial cut their target price on Whitestone REIT from $16.00 to $14.00 and set a "buy" rating for the company in a research note on Monday, May 12th.

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.