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

Whitestone REIT (NYSE:WSR - Get Free Report) announced a monthly dividend on Friday, December 6th,Wall Street Journal reports. Shareholders of record on Monday, March 3rd will be paid a dividend of 0.045 per share by the real estate investment trust on Tuesday, March 11th. This represents a $0.54 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend is Monday, March 3rd.

Whitestone REIT has raised its dividend payment by an average of 10.1% per year over the last three years. Whitestone REIT has a dividend payout ratio of 64.3% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of NYSE:WSR traded down $0.24 during mid-day trading on Friday, reaching $14.32. The stock had a trading volume of 166,207 shares, compared to its average volume of 314,094. The company has a market cap of $725.31 million, a P/E ratio of 35.34, a price-to-earnings-growth ratio of 2.42 and a beta of 1.26. Whitestone REIT has a 1 year low of $10.77 and a 1 year high of $15.01. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 1.49. The business's 50 day moving average price is $14.21 and its 200 day moving average price is $13.61.

Analyst Upgrades and Downgrades

WSR has been the topic of a number of research reports. StockNews.com began coverage on shares of Whitestone REIT in a research report on Friday. They set a "hold" rating on the stock. JMP Securities reissued a "market outperform" rating and issued a $15.00 price target on shares of Whitestone REIT in a report on Thursday, September 19th. Finally, Truist Financial increased their price objective on Whitestone REIT from $15.00 to $16.00 and gave the company a "buy" rating in a report on Friday, November 29th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $15.33.

Whitestone REIT Company Profile

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.