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

Whitestone REIT (NYSE:WSR) announced a monthly dividend on Monday, March 10th, Wall Street Journal reports. Investors of record on Monday, June 2nd will be paid a dividend of 0.045 per share by the real estate investment trust on Thursday, June 12th. This represents a $0.54 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Monday, June 2nd.

Whitestone REIT has raised its dividend payment by an average of 12.0% per year over the last three years. Whitestone REIT has a payout ratio of 108.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Trading Up 3.7 %

Shares of WSR stock opened at $14.23 on Monday. The stock’s fifty day moving average price is $13.57 and its two-hundred day moving average price is $13.83. The company has a market cap of $720.90 million, a PE ratio of 34.72, a P/E/G ratio of 2.13 and a beta of 1.29. Whitestone REIT has a fifty-two week low of $10.77 and a fifty-two week high of $15.36. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.17 and a current ratio of 2.17.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Truist Financial raised their target price on Whitestone REIT from $15.00 to $16.00 and gave the company a “buy” rating in a report on Friday, November 29th. StockNews.com initiated coverage on Whitestone REIT in a research note on Tuesday, March 4th. They issued a “hold” rating for the company. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $16.00 target price on shares of Whitestone REIT in a research report on Tuesday, December 10th.

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.