Whitestone REIT Declares Quarterly Dividend of $0.05 (NYSE:WSR)

Whitestone REIT (NYSE:WSR - Get Free Report) declared a quarterly dividend on Tuesday, June 10th, RTT News reports. Stockholders of record on Tuesday, July 1st will be paid a dividend of 0.045 per share by the real estate investment trust on Thursday, July 10th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 1.43%.

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. 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 Stock Up 0.7%

Shares of NYSE:WSR traded up $0.09 during mid-day trading on Tuesday, hitting $12.55. 129,613 shares of the company traded hands, compared to its average volume of 267,206. The stock has a 50-day moving average price of $12.74 and a two-hundred day moving average price of $13.55. Whitestone REIT has a 12-month low of $11.78 and a 12-month high of $15.36. The stock has a market cap of $638.64 million, a P/E ratio of 30.61, a P/E/G ratio of 2.13 and a beta of 0.92. 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 (NYSE:WSR - Get Free Report) last posted its earnings results on Wednesday, April 30th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. Whitestone REIT had a net margin of 13.97% and a return on equity of 4.98%. The firm had revenue of $37.40 million during the quarter, compared to analyst estimates of $38.95 million. On average, equities research analysts forecast that Whitestone REIT will post 0.99 earnings per share for the current year.

Insider Transactions at Whitestone REIT

In other Whitestone REIT news, Director Donald A. Miller acquired 5,000 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were acquired at an average cost of $12.35 per share, with a total value of $61,750.00. Following the completion of the acquisition, the director now directly owns 21,708 shares in the company, valued at $268,093.80. This trade represents a 29.93% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

WSR has been the subject of a number of research analyst reports. Truist Financial decreased their price target on Whitestone REIT from $16.00 to $14.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Wall Street Zen started coverage on Whitestone REIT in a research note on Thursday, May 15th. They set a "hold" rating on the stock.

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.