Whitestone REIT (WSR) to Issue Quarterly Dividend of $0.14 on June 29th

Whitestone REIT (NYSE:WSR) declared a quarterly dividend on Wednesday, April 8th. Stockholders of record on Wednesday, June 17th will be paid a dividend of 0.1425 per share by the real estate investment trust on Monday, June 29th. This represents a c) annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, June 17th.

Whitestone REIT has decreased its dividend by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 5 consecutive years. Whitestone REIT has a payout ratio of 135.7% 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 $1.19 per share next year, which means the company should continue to be able to cover its $0.57 annual dividend with an expected future payout ratio of 47.9%.

Whitestone REIT Stock Performance

Shares of WSR stock opened at $19.08 on Monday. Whitestone REIT has a 52-week low of $11.43 and a 52-week high of $19.10. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.39. The stock has a market cap of $980.26 million, a PE ratio of 19.87 and a beta of 0.78. The business has a 50-day simple moving average of $18.75 and a 200-day simple moving average of $16.06.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Alliance Global Partners lowered Whitestone REIT from a “buy” rating to a “hold” rating in a research note on Thursday, April 9th. Citigroup downgraded Whitestone REIT from a “market outperform” rating to a “market perform” rating in a research report on Friday, April 10th. Maxim Group reiterated a “hold” rating on shares of Whitestone REIT in a research report on Monday, March 2nd. Cantor Fitzgerald downgraded Whitestone REIT from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 10th. Finally, LADENBURG THALM/SH SH lowered Whitestone REIT from a “buy” rating to a “hold” rating in a report on Thursday, April 9th. One analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $17.50.

Whitestone REIT Company Profile

Whitestone REIT is a real estate investment trust headquartered in San Antonio, Texas, that specializes in the acquisition, development and management of retail and mixed-use properties. The company’s portfolio is concentrated in high-growth Texas markets, including the Dallas–Fort Worth metroplex, Houston, Austin and San Antonio, where it primarily owns open-air neighborhood and community shopping centers. Whitestone REIT focuses on convenience- and necessity-based retail, partnering with grocers, fitness operators, service providers and other essential tenants to drive consistent foot traffic and stable occupancy.

In addition to property ownership, Whitestone REIT provides asset and property management services, leasing expertise and development capabilities.