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

Whitestone REIT (NYSE:WSR) announced a monthly dividend on Thursday, September 5th, Wall Street Journal reports. Stockholders of record on Monday, November 4th will be given a dividend of 0.0413 per share by the real estate investment trust on Thursday, November 14th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend is Monday, November 4th.

Whitestone REIT has raised its dividend payment by an average of 10.1% per year over the last three years. Whitestone REIT has a payout ratio of 56.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Whitestone REIT to earn $1.08 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 46.3%.

Whitestone REIT Trading Down 1.0 %

Shares of NYSE:WSR opened at $13.64 on Friday. The company has a 50 day moving average of $13.61 and a 200-day moving average of $13.17. The company has a current ratio of 2.17, a quick ratio of 1.93 and a debt-to-equity ratio of 1.49. The firm has a market cap of $682.82 million, a P/E ratio of 33.27, a P/E/G ratio of 2.27 and a beta of 1.25. Whitestone REIT has a twelve month low of $10.13 and a twelve month high of $14.54.

Insiders Place Their Bets

In related news, Director Julia Bruns Buthman purchased 5,000 shares of the stock in a transaction on Wednesday, September 4th. The shares were purchased at an average cost of $12.99 per share, for a total transaction of $64,950.00. Following the completion of the transaction, the director now directly owns 8,093 shares of the company’s stock, valued at approximately $105,128.07. The trade was a 100.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.50% of the company’s stock.

Analysts Set New Price Targets

WSR has been the subject of a number of recent analyst reports. StockNews.com started coverage on Whitestone REIT in a research report on Sunday, October 27th. They issued a “hold” rating for the company. JMP Securities restated a “market outperform” rating and issued a $15.00 target price on shares of Whitestone REIT in a research note on Thursday, September 19th. Finally, Truist Financial boosted their price target on Whitestone REIT from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $15.00.

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.