Whitestone REIT (NYSE:WSR) Plans $0.05 Dividend

Key Points

• Whitestone REIT has declared a $0.05 dividend per share, with a yield of 4.31%, payable on August 12th to investors of record as of August 4th.
• The company has a dividend payout ratio of 128.6%, indicating reliance on its balance sheet for dividend payments, though future earnings projections suggest it may cover dividends more sustainably.
• Whitestone REIT's shares opened at $12.52 and have seen a 12-month trading range from $11.77 to $15.36 while maintaining a debt-to-equity ratio of 1.47.

Whitestone REIT (NYSE:WSR - Get Free Report) declared a dividend on Friday, July 25th, investing.com reports. Investors of record on Monday, August 4th will be paid a dividend of 0.045 per share by the real estate investment trust on Tuesday, August 12th. This represents a yield of 4.31%. The ex-dividend date of this dividend is Friday, August 1st.

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 Price Performance

Shares of WSR opened at $12.52 on Friday. The company has a market cap of $637.01 million, a price-to-earnings ratio of 20.86, a price-to-earnings-growth ratio of 1.97 and a beta of 0.90. Whitestone REIT has a twelve month low of $11.77 and a twelve month high of $15.36. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 1.47. The company has a 50 day moving average of $12.45 and a two-hundred day moving average of $13.13.

Whitestone REIT (NYSE:WSR - Get Free Report) last posted 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 net margin of 20.15% and a return on equity of 7.23%. The business had revenue of $37.40 million during the quarter, compared to the consensus estimate of $38.95 million. As a group, analysts predict that Whitestone REIT will post 0.99 earnings per share for the current fiscal year.

Insider Activity at Whitestone REIT

In related news, Director Donald A. Miller bought 5,000 shares of the business's 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 directly owned 21,708 shares of the company's stock, valued at approximately $268,093.80. This trade represents a 29.93% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 3.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

WSR has been the subject of several recent research reports. Truist Financial reduced their target price on shares of Whitestone REIT from $16.00 to $14.00 and set a "buy" rating for the company in a report on Monday, May 12th. Wall Street Zen raised shares of Whitestone REIT from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $16.00 price objective on shares of Whitestone REIT in a report on Wednesday, June 18th.

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.

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