Whitestone REIT (NYSE:WSR) Releases Earnings Results

Whitestone REIT (NYSE:WSR) issued its quarterly earnings data on Wednesday. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.06), Zacks reports. Whitestone REIT had a return on equity of 4.51% and a net margin of 13.05%. The company had revenue of $37.16 million for the quarter, compared to analyst estimates of $38.00 million. During the same quarter in the prior year, the firm earned $0.24 EPS. Whitestone REIT updated its FY 2024 guidance to 0.980-1.040 EPS.

Whitestone REIT Stock Performance

WSR stock traded up $0.09 during trading on Thursday, reaching $11.69. 151,561 shares of the stock were exchanged, compared to its average volume of 318,390. Whitestone REIT has a twelve month low of $8.21 and a twelve month high of $13.12. The company has a market capitalization of $584.03 million, a P/E ratio of 30.53, a price-to-earnings-growth ratio of 1.92 and a beta of 1.19. The stock has a 50 day simple moving average of $11.84 and a 200-day simple moving average of $11.67. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 1.53.

Whitestone REIT Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, June 13th. Investors of record on Tuesday, June 4th will be given a dividend of $0.0413 per share. This represents a $0.50 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend is Tuesday, June 4th. Whitestone REIT’s dividend payout ratio (DPR) is presently 131.58%.

Analyst Ratings Changes

A number of analysts have recently issued reports on WSR shares. B. Riley reaffirmed a “neutral” rating on shares of Whitestone REIT in a research report on Friday, February 2nd. JMP Securities reissued a “market outperform” rating and issued a $15.00 price objective on shares of Whitestone REIT in a report on Wednesday, April 10th. Truist Financial raised Whitestone REIT from a “hold” rating to a “buy” rating and upped their target price for the company from $11.00 to $13.50 in a report on Tuesday, January 16th. Finally, Alliance Global Partners assumed coverage on Whitestone REIT in a report on Monday, March 18th. They set a “buy” rating and a $15.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Whitestone REIT currently has a consensus rating of “Moderate Buy” and an average price target of $13.63.

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.