Whitestone REIT Declares Monthly Dividend of $0.05 (NYSE:WSR)

Whitestone REIT (NYSE:WSR - Get Free Report) declared a monthly dividend on Monday, March 10th, Wall Street Journal reports. Shareholders of record on Monday, June 2nd will be paid a dividend of 0.045 per share by the real estate investment trust on Thursday, June 12th. This represents a $0.54 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date is Monday, June 2nd.

Whitestone REIT has raised its dividend payment by an average of 12.0% annually over the last three years. Whitestone REIT has a dividend payout ratio of 108.0% indicating that 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 $1.05 per share next year, which means the company should continue to be able to cover its $0.54 annual dividend with an expected future payout ratio of 51.4%.

Whitestone REIT Stock Down 0.1 %

Shares of NYSE:WSR traded down $0.02 during trading on Thursday, hitting $14.32. The company's stock had a trading volume of 329,632 shares, compared to its average volume of 268,272. The company has a market capitalization of $725.35 million, a PE ratio of 34.93, a PEG ratio of 2.13 and a beta of 1.29. Whitestone REIT has a fifty-two week low of $10.77 and a fifty-two week high of $15.36. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.17 and a current ratio of 2.17. The stock's 50-day moving average price is $13.57 and its two-hundred day moving average price is $13.85.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Truist Financial upped their target price on shares of Whitestone REIT from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Friday, November 29th. StockNews.com assumed coverage on Whitestone REIT in a research note on Wednesday. They set a "hold" rating on the stock. Finally, JMP Securities reiterated a "market outperform" rating and issued a $16.00 target price on shares of Whitestone REIT in a research report on Tuesday, December 10th.

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.