Whitestone REIT (NYSE:WSR) announced a monthly dividend on Wednesday, June 13th, Zacks reports. Shareholders of record on Tuesday, July 3rd will be paid a dividend of 0.095 per share by the real estate investment trust on Thursday, July 12th. This represents a $1.14 dividend on an annualized basis and a yield of 9.11%. The ex-dividend date is Monday, July 2nd.
Whitestone REIT has a payout ratio of 111.8% 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 $1.00 per share next year, which means the company may not be able to cover its $1.14 annual dividend with an expected future payout ratio of 114.0%.
Shares of Whitestone REIT opened at $12.52 on Wednesday, MarketBeat Ratings reports. The stock has a market cap of $497.04 million, a price-to-earnings ratio of 10.02 and a beta of 1.04. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.13 and a current ratio of 1.13. Whitestone REIT has a 12-month low of $10.06 and a 12-month high of $15.15.
WSR has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Whitestone REIT from a “sell” rating to a “hold” rating in a research note on Saturday, May 5th. ValuEngine upgraded shares of Whitestone REIT from a “sell” rating to a “hold” rating in a research note on Wednesday, May 9th. B. Riley set a $13.00 price objective on shares of Whitestone REIT and gave the stock a “buy” rating in a research note on Monday, March 5th. Maxim Group reiterated a “buy” rating and set a $16.00 price objective on shares of Whitestone REIT in a research note on Tuesday, May 8th. Finally, SunTrust Banks downgraded shares of Whitestone REIT from a “hold” rating to a “sell” rating and set a $10.00 price objective on the stock. in a research note on Friday, March 2nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $13.20.
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 mix of national, regional and local tenants provides daily necessities, needed services and entertainment not typically readily available online to their respective communities.
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