Whitestone REIT (NYSE:WSR) Releases Earnings Results, Misses Estimates By $0.01 EPS

Key Points

• Missed estimates: Whitestone REIT reported $0.08 EPS, missing consensus by $0.01, with revenue of $41.39 million versus $41.89 million expected.
• Quarterly dividend: The company declared a $0.1425 per-share dividend (annualized $0.57, ~3.0% yield), payable June 29 with an ex-dividend date of June 17.
• Market and analyst view: Shares traded up to $18.98 on higher volume, the market cap is about $965.8M, and analysts' consensus is a "Hold" with a $17.50 price target.

Whitestone REIT (NYSE:WSR - Get Free Report) announced its quarterly earnings results on Wednesday. The real estate investment trust reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.01), FiscalAI reports. Whitestone REIT had a net margin of 31.04% and a return on equity of 11.23%. The firm had revenue of $41.39 million during the quarter, compared to the consensus estimate of $41.89 million.

Whitestone REIT Trading Up 0.1%

NYSE:WSR traded up $0.03 during trading hours on Wednesday, hitting $18.98. 585,302 shares of the company were exchanged, compared to its average volume of 369,402. The stock has a market capitalization of $965.83 million, a price-to-earnings ratio of 19.97 and a beta of 0.80. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.39. Whitestone REIT has a one year low of $11.43 and a one year high of $19.01. The company has a fifty day simple moving average of $17.00 and a 200 day simple moving average of $14.83.

Whitestone REIT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Wednesday, June 17th will be given a dividend of $0.1425 per share. This represents a $0.57 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Wednesday, June 17th. Whitestone REIT's dividend payout ratio (DPR) is currently 60.00%.

Analyst Upgrades and Downgrades

WSR has been the subject of a number of research reports. Maxim Group reiterated a "hold" rating on shares of Whitestone REIT in a research note on Monday, March 2nd. Alliance Global Partners cut Whitestone REIT from a "buy" rating to a "hold" rating in a research note on Thursday, April 9th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Whitestone REIT in a research report on Tuesday, April 14th. Citigroup lowered Whitestone REIT from a "market outperform" rating to a "market perform" rating in a research report on Friday, April 10th. Finally, B. Riley Financial lowered Whitestone REIT from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $17.50.

About Whitestone REIT

Whitestone REIT is a real estate investment trust headquartered in San Antonio, Texas, that specializes in the acquisition, development and management of retail and mixed-use properties. The company's portfolio is concentrated in high-growth Texas markets, including the Dallas–Fort Worth metroplex, Houston, Austin and San Antonio, where it primarily owns open-air neighborhood and community shopping centers. Whitestone REIT focuses on convenience- and necessity-based retail, partnering with grocers, fitness operators, service providers and other essential tenants to drive consistent foot traffic and stable occupancy.

In addition to property ownership, Whitestone REIT provides asset and property management services, leasing expertise and development capabilities.

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