Whitestone REIT (NYSE:WSR) Raises Dividend to $0.05 Per Share

Whitestone REIT (NYSE:WSR) declared a monthly dividend on Thursday, March 6th, NASDAQ Dividends reports. Shareholders 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 yield of 3.79%. The ex-dividend date is Tuesday, April 1st. This is a 9.1% increase from Whitestone REIT’s previous monthly dividend of $0.04.

Whitestone REIT has increased its dividend payment by an average of 12.0% per year over the last three years. Whitestone REIT has a dividend payout ratio of 108.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research 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

WSR traded up $0.50 during midday trading on Friday, reaching $14.23. 446,612 shares of the company’s stock were exchanged, compared to its average volume of 268,022. The firm has a market capitalization of $720.90 million, a price-to-earnings ratio of 34.72, a price-to-earnings-growth ratio of 2.13 and a beta of 1.26. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 1.49. Whitestone REIT has a one year low of $10.77 and a one year high of $15.36. The business has a 50-day simple moving average of $13.56 and a two-hundred day simple moving average of $13.82.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on WSR shares. StockNews.com assumed coverage on shares of Whitestone REIT in a report on Tuesday. They set a “hold” rating for the company. 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 report on Friday, November 29th. Finally, JMP Securities reiterated a “market outperform” rating and set 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.