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

Whitestone REIT (NYSE:WSRGet Rating) declared a monthly dividend on Tuesday, May 24th, Wall Street Journal reports. Stockholders of record on Tuesday, July 5th will be paid a dividend of 0.04 per share by the real estate investment trust on Wednesday, July 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend is Friday, July 1st.

Whitestone REIT has decreased its dividend by an average of 27.8% annually over the last three years and has increased its dividend every year for the last 2 years. Whitestone REIT has a payout ratio of 42.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Whitestone REIT to earn $0.87 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 55.2%.

Shares of NYSE WSR traded up $0.11 during trading hours on Tuesday, reaching $11.94. 470,391 shares of the stock were exchanged, compared to its average volume of 543,009. The firm has a market capitalization of $586.82 million, a price-to-earnings ratio of 31.97, a P/E/G ratio of 1.86 and a beta of 1.19. The company has a debt-to-equity ratio of 1.59, a quick ratio of 2.21 and a current ratio of 2.21. Whitestone REIT has a 52 week low of $7.56 and a 52 week high of $13.66. The stock’s fifty day simple moving average is $12.70 and its 200 day simple moving average is $11.26.

Whitestone REIT (NYSE:WSRGet Rating) last announced its earnings results on Tuesday, May 3rd. The real estate investment trust reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.06). Whitestone REIT had a return on equity of 4.06% and a net margin of 13.58%. During the same period in the prior year, the business posted $0.23 EPS. Research analysts predict that Whitestone REIT will post 0.82 EPS for the current fiscal year.

In other Whitestone REIT news, Director Jeffrey Alan Jones purchased 6,250 shares of the firm’s stock in a transaction dated Tuesday, March 22nd. The shares were bought at an average price of $9.55 per share, for a total transaction of $59,687.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.60% of the company’s stock.

A number of research firms have commented on WSR. Colliers Securities began coverage on Whitestone REIT in a research note on Wednesday, April 6th. They set a “buy” rating and a $15.00 price objective on the stock. B. Riley restated a “neutral” rating on shares of Whitestone REIT in a research note on Thursday, May 5th. Zacks Investment Research upgraded Whitestone REIT from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Thursday, May 12th. Finally, StockNews.com began coverage on Whitestone REIT in a research note on Thursday, March 31st. They set a “hold” rating on the stock.

About Whitestone REIT (Get Rating)

Whitestone is a community-centered shopping center REIT that acquires, owns, manages, develops and redevelops high-quality open-air neighborhood centers primarily in the largest, fastest-growing and most affluent markets in the Sunbelt. Whitestone seeks to create communities that thrive through creating local connections between consumers in the surrounding communities and a well-crafted mix of national, regional and local tenants that provide daily necessities, needed services, entertainment and experiences.

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Dividend History for Whitestone REIT (NYSE:WSR)

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