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

Whitestone REIT (NYSE:WSR) declared a monthly dividend on Thursday, September 5th, Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend is Monday, November 4th.

Whitestone REIT has raised its dividend by an average of 10.1% per year over the last three years. Whitestone REIT has a payout ratio of 37.0% indicating that 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

WSR stock opened at $13.10 on Friday. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.93 and a quick ratio of 1.93. The stock has a market capitalization of $655.54 million, a P/E ratio of 27.28, a P/E/G ratio of 2.11 and a beta of 1.27. Whitestone REIT has a fifty-two week low of $9.07 and a fifty-two week high of $14.48. The business has a 50-day moving average of $13.47 and a 200-day moving average of $12.70.

Insider Buying and Selling

In related news, Director Julia Bruns Buthman purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was purchased at an average cost of $12.99 per share, for a total transaction of $64,950.00. Following the completion of the purchase, the director now directly owns 8,093 shares in the company, valued at $105,128.07. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Truist Financial upped their price target on Whitestone REIT from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. JMP Securities restated a “market outperform” rating and set a $15.00 target price on shares of Whitestone REIT in a report on Friday, June 28th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.