Whitestone REIT (NYSE:WSR) declared a monthly dividend on Tuesday, September 19th, Wall Street Journal reports. Shareholders of record on Tuesday, December 5th will be given a dividend of 0.095 per share by the real estate investment trust on Thursday, December 14th. This represents a $1.14 dividend on an annualized basis and a yield of 8.76%. The ex-dividend date of this dividend is Monday, December 4th.
Whitestone REIT has a dividend payout ratio of 109.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Whitestone REIT to earn $1.13 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 100.9%.
Whitestone REIT (WSR) opened at 12.9901 on Wednesday. The firm has a 50-day moving average price of $12.85 and a 200-day moving average price of $12.74. Whitestone REIT has a 1-year low of $10.80 and a 1-year high of $14.78. The firm has a market cap of $500.42 million, a price-to-earnings ratio of 90.2090 and a beta of 0.93.
Whitestone REIT (NYSE:WSR) last issued its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.05. Whitestone REIT had a return on equity of 1.69% and a net margin of 4.36%. The company had revenue of $30.20 million for the quarter, compared to analyst estimates of $30.68 million. During the same quarter last year, the company posted $0.32 EPS. The company’s revenue for the quarter was up 20.2% compared to the same quarter last year. On average, analysts expect that Whitestone REIT will post $0.28 earnings per share for the current fiscal year.
Several equities analysts have recently issued reports on WSR shares. FBR & Co reiterated an “outperform” rating and issued a $14.00 price target on shares of Whitestone REIT in a research note on Tuesday, July 11th. ValuEngine upgraded Whitestone REIT from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Zacks Investment Research lowered Whitestone REIT from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Maxim Group reiterated a “buy” rating and issued a $20.00 price target on shares of Whitestone REIT in a research note on Wednesday, June 14th. Finally, Ladenburg Thalmann Financial Services reissued a “hold” rating on shares of Whitestone REIT in a report on Friday, August 18th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Whitestone REIT has an average rating of “Hold” and a consensus price target of $14.25.
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In other news, Director Paul T. Lambert acquired 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The shares were bought at an average price of $12.29 per share, with a total value of $36,870.00. Following the acquisition, the director now directly owns 51,918 shares in the company, valued at approximately $638,072.22. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.29% of the company’s stock.
About Whitestone REIT
Whitestone REIT is a real estate investment trust. The Company is engaged in owning and operating commercial properties in culturally diverse markets in various metropolitan areas. The Company’s acquisition targets are located in densely populated, culturally diverse neighborhoods, primarily in and around Austin, Chicago, Dallas-Fort Worth, Houston, Phoenix and San Antonio.
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