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

Whitestone REIT (NYSE:WSR - Get Free Report) announced a monthly dividend on Thursday, March 6th, NASDAQ Dividends reports. Stockholders of record on Tuesday, April 1st will be paid a dividend of 0.045 per share by the real estate investment trust on Thursday, April 10th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend is Tuesday, April 1st. This is a 9.1% increase from Whitestone REIT's previous monthly dividend of $0.04.

Whitestone REIT has raised its dividend payment by an average of 12.0% per year over the last three years. Whitestone REIT has a 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. 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 Performance

WSR stock traded down $0.31 during trading on Tuesday, hitting $13.94. The company had a trading volume of 110,507 shares, compared to its average volume of 266,760. Whitestone REIT has a 1-year low of $10.77 and a 1-year high of $15.36. The firm has a 50-day moving average price of $13.57 and a 200-day moving average price of $13.83. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 1.49. The firm has a market cap of $706.01 million, a PE ratio of 34.03, a price-to-earnings-growth ratio of 2.13 and a beta of 1.29.

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Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. JMP Securities reaffirmed a "market outperform" rating and set a $16.00 price target on shares of Whitestone REIT in a report on Tuesday, December 10th. StockNews.com started coverage on Whitestone REIT in a report on Tuesday, March 4th. They issued a "hold" rating on the stock. Finally, Truist Financial increased their target price on Whitestone REIT from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Friday, November 29th.

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.