Whitestone REIT (WSR) to Issue Monthly Dividend of $0.04 on November 14th

Whitestone REIT (NYSE:WSR) declared a monthly dividend on Thursday, September 5th, Wall Street Journal reports. Investors of record on Monday, November 4th will be given a dividend of 0.0413 per share by the real estate investment trust on Thursday, November 14th. This represents a $0.50 annualized dividend and a yield of 3.78%. The ex-dividend date is Monday, November 4th.

Whitestone REIT has raised its dividend payment by an average of 10.1% annually over the last three years. Whitestone REIT has a dividend payout ratio of 37.0% meaning its dividend is sufficiently covered by earnings. Equities 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 opened at $13.10 on Friday. The stock’s fifty day moving average price is $13.47 and its two-hundred day moving average price is $12.70. The company has a market cap of $655.54 million, a price-to-earnings ratio of 27.28, a P/E/G ratio of 2.11 and a beta of 1.27. Whitestone REIT has a 52-week low of $9.07 and a 52-week high of $14.48. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.93 and a current ratio of 1.93.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on WSR shares. JMP Securities reiterated a “market outperform” rating and issued a $15.00 price target on shares of Whitestone REIT in a report on Friday, June 28th. Truist Financial lifted their price target on shares of Whitestone REIT from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.

Insider Transactions at Whitestone REIT

In other news, Director Julia Bruns Buthman purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were acquired at an average cost of $12.99 per share, for a total transaction of $64,950.00. Following the transaction, the director now directly owns 8,093 shares of the company’s stock, valued at approximately $105,128.07. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.50% of the company’s stock.

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.