Whitestone REIT (NYSE:WSR) Declares Dividend Increase - $0.05 Per Share

Whitestone REIT (NYSE:WSR - Get Free Report) declared a dividend on Friday, April 25th, investing.com reports. Investors of record on Friday, May 2nd will be paid a dividend of 0.045 per share by the real estate investment trust on Tuesday, May 13th. This represents a yield of 4.11%. The ex-dividend date of this dividend is Thursday, May 1st. This is a 9.1% increase from Whitestone REIT's previous dividend of $0.04.

Whitestone REIT has raised its dividend by an average of 12.0% annually over the last three years. Whitestone REIT has a payout ratio of 50.9% indicating that its dividend is sufficiently covered by earnings. 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 0.4 %

WSR traded down $0.05 on Wednesday, reaching $13.04. 56,347 shares of the company traded hands, compared to its average volume of 280,703. The stock's 50 day moving average price is $13.70 and its 200-day moving average price is $13.92. Whitestone REIT has a 52-week low of $11.37 and a 52-week high of $15.36. The company has a market cap of $663.67 million, a price-to-earnings ratio of 31.81, a PEG ratio of 2.13 and a beta of 0.89. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.17 and a quick ratio of 2.17.

Analysts Set New Price Targets

WSR has been the subject of several analyst reports. StockNews.com initiated coverage on shares of Whitestone REIT in a research note on Tuesday. They issued a "hold" rating for the company. Truist Financial increased their target price on shares of Whitestone REIT from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Tuesday, March 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.