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

Whitestone REIT (NYSE:WSR - Get Free Report) announced 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 1.45%. The ex-dividend date of this dividend is Tuesday, July 1st.

Whitestone REIT has a 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 Down 0.3%

NYSE WSR traded down $0.04 during trading hours on Friday, reaching $12.38. 228,278 shares of the company's stock traded hands, compared to its average volume of 265,173. Whitestone REIT has a 52-week low of $11.78 and a 52-week high of $15.36. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.17 and a quick ratio of 2.17. The firm has a 50-day simple moving average of $12.67 and a 200 day simple moving average of $13.50. The firm has a market cap of $630.09 million, a PE ratio of 30.20, a PEG ratio of 2.13 and a beta of 0.92.

Whitestone REIT (NYSE:WSR - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $37.40 million for the quarter, compared to analysts' expectations of $38.95 million. Whitestone REIT had a return on equity of 4.98% and a net margin of 13.97%. Sell-side analysts anticipate that Whitestone REIT will post 0.99 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Donald A. Miller purchased 5,000 shares of Whitestone REIT stock in a transaction dated Wednesday, May 28th. The stock was purchased 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 $268,093.80. The trade was a 29.93% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on WSR shares. 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 research report on Monday, May 12th. Wall Street Zen began coverage on shares of Whitestone REIT in a report on Thursday, May 15th. They issued a "hold" rating for the company.

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.