Whitestone REIT Declares Monthly Dividend of $0.04 (NYSE:WSR)

Whitestone REIT (NYSE:WSR) announced a monthly dividend on Friday, September 6th, Wall Street Journal reports. Stockholders of record on Tuesday, December 3rd will be paid a dividend of 0.0413 per share by the real estate investment trust on Thursday, December 12th. This represents a $0.50 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Tuesday, December 3rd.

Whitestone REIT has raised its dividend by an average of 10.1% annually over the last three years. Whitestone REIT has a payout ratio of 37.0% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.2 %

Shares of WSR stock opened at $13.08 on Friday. The stock has a market cap of $653.48 million, a price-to-earnings ratio of 27.25, a PEG ratio of 2.11 and a beta of 1.27. The stock has a 50-day moving average of $13.47 and a 200-day moving average of $12.70. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 1.57. Whitestone REIT has a 1-year low of $9.07 and a 1-year high of $14.48.

Insider Buying and Selling

In other Whitestone REIT news, Director Julia Bruns Buthman bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was acquired at an average price of $12.99 per share, with a total value of $64,950.00. Following the completion of the purchase, the director now directly owns 8,093 shares of the company’s stock, valued at approximately $105,128.07. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

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.