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

Whitestone REIT (NYSE:WSR - Get Free Report) declared a monthly dividend on Thursday, June 12th, Wall Street Journal reports. Shareholders 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 dividend yield of 4.36%. The ex-dividend date is Tuesday, September 2nd.

Whitestone REIT has a dividend payout ratio of 128.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research 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 Trading Down 0.3%

Shares of WSR stock traded down $0.04 on Friday, reaching $12.38. 228,278 shares of the stock were exchanged, compared to its average volume of 264,734. The stock has a market cap of $630.09 million, a P/E ratio of 30.20, a price-to-earnings-growth ratio of 2.13 and a beta of 0.92. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 1.49. The firm has a 50 day moving average of $12.67 and a two-hundred day moving average of $13.48. Whitestone REIT has a 1-year low of $11.78 and a 1-year high of $15.36.

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 analysts' consensus estimates of $0.24 by $0.01. The business had revenue of $37.40 million during the quarter, compared to the consensus estimate of $38.95 million. Whitestone REIT had a return on equity of 4.98% and a net margin of 13.97%. On average, research analysts anticipate that Whitestone REIT will post 0.99 EPS for the current year.

Insider Activity at Whitestone REIT

In other Whitestone REIT news, Director Donald A. Miller bought 5,000 shares of the stock in a transaction dated Wednesday, May 28th. The stock was bought at an average cost of $12.35 per share, for a total transaction of $61,750.00. Following the completion of the purchase, the director now directly owns 21,708 shares of the company's stock, valued at approximately $268,093.80. The trade was a 29.93% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.20% of the stock is owned by insiders.

Analyst Ratings Changes

WSR has been the subject of a number of research analyst reports. Wall Street Zen upgraded Whitestone REIT to a "sell" rating in a report on Saturday. Truist Financial lowered their price target on Whitestone REIT from $16.00 to $14.00 and set a "buy" rating for the company in a report on Monday, May 12th.

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.