Whitestone REIT (WSR) To Go Ex-Dividend on July 1st

Whitestone REIT (NYSE:WSR) announced a quarterly dividend on Tuesday, June 10th, RTT News reports. Shareholders of record on Tuesday, July 1st will be paid a dividend of 0.045 per share by the real estate investment trust on Thursday, July 10th. This represents a $0.18 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Tuesday, July 1st.

Whitestone REIT has a dividend payout ratio of 128.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 opened at $12.45 on Thursday. The company’s fifty day moving average is $12.69 and its two-hundred day moving average is $13.54. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.17 and a current ratio of 2.17. The firm has a market capitalization of $633.66 million, a P/E ratio of 30.37, a PEG ratio of 2.13 and a beta of 0.92. Whitestone REIT has a one year low of $11.78 and a one year high of $15.36.

Whitestone REIT (NYSE:WSR) last released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. The firm had revenue of $37.40 million during the quarter, compared to the consensus estimate of $38.95 million. Whitestone REIT had a return on equity of 4.98% and a net margin of 13.97%. Analysts forecast that Whitestone REIT will post 0.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Truist Financial reduced their price target on shares of Whitestone REIT from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, May 12th. Wall Street Zen started coverage on Whitestone REIT in a research note on Thursday, May 15th. They issued a “hold” rating on the stock.

Insider Activity at Whitestone REIT

In other news, Director Donald A. Miller purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, May 28th. The shares were bought at an average cost of $12.35 per share, with a total value of $61,750.00. Following the purchase, the director now directly owns 21,708 shares of the company’s stock, valued at approximately $268,093.80. This trade represents a 29.93% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.20% of the stock is currently owned by corporate insiders.

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.