Whitestone REIT (NYSE:WSR) Raises Dividend to $0.04 Per Share

Whitestone REIT (NYSE:WSR) declared a dividend on Thursday, July 4th, investing.com reports. Stockholders 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 is Friday, July 5th. This is a positive change 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% 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 Stock Performance

Shares of WSR traded up $0.03 during trading hours on Thursday, reaching $13.21. 109,376 shares of the company traded hands, compared to its average volume of 339,091. The stock’s fifty day moving average is $12.70 and its 200 day moving average is $12.35. The stock has a market cap of $659.97 million, a P/E ratio of 27.52, a price-to-earnings-growth ratio of 2.13 and a beta of 1.27. The company has a debt-to-equity ratio of 1.51, a quick ratio of 2.09 and a current ratio of 2.09. Whitestone REIT has a 1-year low of $9.07 and a 1-year high of $13.49.

Whitestone REIT (NYSE:WSR) last posted its quarterly 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). 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 during the quarter, compared to analyst estimates of $38.00 million. During the same period last year, the company earned $0.24 EPS. Equities research analysts anticipate that Whitestone REIT will post 1.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on WSR shares. Alliance Global Partners started coverage on shares of Whitestone REIT in a research report on Monday, March 18th. They issued a “buy” rating and a $15.00 price target for the company. JMP Securities reissued a “market outperform” rating and issued a $15.00 price target on shares of Whitestone REIT in a research report on Friday, June 28th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.