Whitestone REIT (NYSE:WSR) announced a monthly dividend on Wednesday, June 17th, Wall Street Journal reports. Shareholders of record on Thursday, July 2nd will be paid a dividend of 0.035 per share by the real estate investment trust on Friday, July 10th. This represents a $0.42 dividend on an annualized basis and a yield of 5.79%. The ex-dividend date of this dividend is Wednesday, July 1st.
Whitestone REIT has a payout ratio of 42.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Whitestone REIT to earn $0.86 per share next year, which means the company should continue to be able to cover its $0.42 annual dividend with an expected future payout ratio of 48.8%.
Shares of WSR opened at $7.25 on Tuesday. The firm’s 50-day moving average price is $6.60 and its 200-day moving average price is $9.62. The firm has a market capitalization of $293.27 million, a price-to-earnings ratio of 13.68 and a beta of 1.40. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 1.98. Whitestone REIT has a 1-year low of $4.70 and a 1-year high of $14.65.
Whitestone REIT (NYSE:WSR) last announced its earnings results on Thursday, May 7th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.15). The company had revenue of $30.58 million for the quarter, compared to the consensus estimate of $31.09 million. Whitestone REIT had a net margin of 18.75% and a return on equity of 6.42%. On average, research analysts forecast that Whitestone REIT will post 0.82 EPS for the current fiscal year.
In other news, CEO James C. Mastandrea bought 18,000 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was acquired at an average cost of $5.75 per share, with a total value of $103,500.00. Following the completion of the acquisition, the chief executive officer now owns 1,221,932 shares of the company’s stock, valued at $7,026,109. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.30% of the stock is currently owned by insiders.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Whitestone REIT from a “hold” rating to a “sell” rating in a research note on Saturday, June 20th. ValuEngine cut shares of Whitestone REIT from a “hold” rating to a “sell” rating in a research report on Wednesday, April 1st. B. Riley lowered their price target on shares of Whitestone REIT from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Friday, May 15th. Finally, JMP Securities initiated coverage on shares of Whitestone REIT in a research report on Monday, June 8th. They set a “market perform” rating for the company. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $11.67.
Whitestone REIT Company Profile
Whitestone is a community-centered retail REIT that acquires, owns, manages, develops and redevelops high quality "E-Commerce resistant" neighborhood, community and lifestyle retail centers principally located in the largest, fastest growing and most affluent markets in the Sunbelt. Whitestone's optimal mix of national, regional and local tenants provides daily necessities, needed services and entertainment to the communities in which they are located.
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