Whitestone REIT (NYSE:WSR) Plans Dividend Increase – $0.04 Per Share

Whitestone REIT (NYSE:WSR) announced a dividend on Thursday, July 4th, investing.com reports. Shareholders of record on Monday, July 8th will be given a dividend of 0.0413 per share by the real estate investment trust on Thursday, July 11th. This represents a dividend yield of 3.75%. The ex-dividend date of this dividend is Friday, July 5th. This is an increase from Whitestone REIT’s previous dividend of $0.04.

Whitestone REIT has raised its dividend by an average of 10.1% annually over the last three years. Whitestone REIT has a dividend payout ratio of 47.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Whitestone REIT to earn $1.12 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 44.6%.

Whitestone REIT Stock Up 0.2 %

Shares of NYSE WSR traded up $0.03 during trading hours on Thursday, hitting $13.21. 109,376 shares of the stock were exchanged, compared to its average volume of 339,091. Whitestone REIT has a 12 month low of $9.07 and a 12 month high of $13.49. The firm has a fifty day moving average price of $12.70 and a 200-day moving average price of $12.35. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 1.51. The company has a market cap of $659.97 million, a PE ratio of 27.52, a PEG ratio of 2.13 and a beta of 1.27.

Whitestone REIT (NYSE:WSR) last issued its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.06). Whitestone REIT had a return on equity of 5.77% and a net margin of 16.64%. The business had revenue of $37.16 million for the quarter, compared to analyst estimates of $38.00 million. During the same period in the previous year, the company posted $0.24 earnings per share. On average, sell-side analysts expect that Whitestone REIT will post 1.03 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. JMP Securities reiterated a “market outperform” rating and issued a $15.00 price target on shares of Whitestone REIT in a research note on Friday, June 28th. Alliance Global Partners started coverage on shares of Whitestone REIT in a report on Monday, March 18th. They set a “buy” rating and a $15.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.63.

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.