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

Whitestone REIT (NYSE:WSR) declared a monthly dividend on Tuesday, March 5th, Wall Street Journal reports. Investors of record on Thursday, May 2nd will be paid a dividend of 0.0413 per share by the real estate investment trust on Tuesday, May 14th. This represents a $0.50 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend is Wednesday, May 1st. This is a positive change from Whitestone REIT’s previous monthly dividend of $0.04.

Whitestone REIT has raised its dividend by an average of 10.1% per year over the last three years and has increased its dividend every year for the last 1 years. Whitestone REIT has a dividend payout ratio of 333.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Whitestone REIT to earn $1.09 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 45.9%.

Whitestone REIT Price Performance

Shares of NYSE WSR opened at $11.48 on Tuesday. The firm has a market cap of $573.54 million, a PE ratio of 30.21, a PEG ratio of 1.89 and a beta of 1.19. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 1.53. Whitestone REIT has a 1-year low of $8.21 and a 1-year high of $13.12. The company has a fifty day moving average price of $11.89 and a 200 day moving average price of $11.65.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on WSR shares. JMP Securities reissued a “market outperform” rating and set a $15.00 price target on shares of Whitestone REIT in a research report on Wednesday, April 10th. B. Riley reissued a “neutral” rating on shares of Whitestone REIT in a research report on Friday, February 2nd. Truist Financial raised shares of Whitestone REIT from a “hold” rating to a “buy” rating and boosted their price target for the stock from $11.00 to $13.50 in a research report on Tuesday, January 16th. Finally, Alliance Global Partners started 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 on the stock. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.