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

Whitestone REIT (NYSE:WSR) declared a dividend on Thursday, July 4th, investing.com reports. Investors of record on Monday, July 8th will be paid 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 increased 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 Price Performance

NYSE WSR traded up $0.03 on Thursday, reaching $13.21. 109,376 shares of the company’s stock traded hands, compared to its average volume of 339,091. The stock has a market cap of $659.97 million, a PE ratio of 27.52, a P/E/G ratio of 2.13 and a beta of 1.27. Whitestone REIT has a 12 month low of $9.07 and a 12 month high of $13.49. The stock has a 50-day simple moving average of $12.70 and a 200 day simple moving average of $12.35. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.09 and a quick ratio of 2.09.

Whitestone REIT (NYSE:WSR) last issued its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.06). The firm had revenue of $37.16 million during the quarter, compared to the consensus estimate of $38.00 million. Whitestone REIT had a return on equity of 5.77% and a net margin of 16.64%. During the same quarter in the prior year, the business posted $0.24 EPS. As a group, research analysts predict that Whitestone REIT will post 1.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WSR. JMP Securities reiterated a “market outperform” rating and issued a $15.00 price objective on shares of Whitestone REIT in a report on Friday, June 28th. Alliance Global Partners assumed coverage on shares of Whitestone REIT in a research report on Monday, March 18th. They set a “buy” rating and a $15.00 price target for the company. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock 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.