Whitestone REIT (NYSE:WSR) Declares $0.04 Monthly Dividend

Whitestone REIT (NYSE:WSR) announced a monthly dividend on Tuesday, March 30th, Wall Street Journal reports. Stockholders of record on Tuesday, May 4th will be given a dividend of 0.0358 per share by the real estate investment trust on Thursday, May 13th. This represents a $0.43 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date of this dividend is Monday, May 3rd.

Whitestone REIT has decreased its dividend payment by 47.4% over the last three years and has raised its dividend annually for the last 1 consecutive years. Whitestone REIT has a dividend payout ratio of 43.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Whitestone REIT to earn $0.93 per share next year, which means the company should continue to be able to cover its $0.43 annual dividend with an expected future payout ratio of 46.2%.

Shares of Whitestone REIT stock opened at $9.77 on Friday. The company has a market cap of $415.02 million, a price-to-earnings ratio of 21.24 and a beta of 1.30. The company’s 50 day moving average is $9.73 and its 200 day moving average is $8.39. Whitestone REIT has a twelve month low of $4.70 and a twelve month high of $10.43. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 2.01.

Whitestone REIT (NYSE:WSR) last announced its quarterly earnings data on Wednesday, February 24th. The real estate investment trust reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.15). Whitestone REIT had a net margin of 16.59% and a return on equity of 5.78%. Sell-side analysts expect that Whitestone REIT will post 0.83 EPS for the current fiscal year.

Separately, Zacks Investment Research downgraded shares of Whitestone REIT from a “hold” rating to a “sell” rating in a research report on Thursday, March 18th.

About Whitestone REIT

Whitestone is a community-centered shopping center REIT that acquires, owns, manages, develops and redevelops high-quality open-air neighborhood centers primarily in the largest, fastest-growing and most affluent markets in the Sunbelt. Whitestone seeks to create communities that thrive through creating local connections between consumers in the surrounding communities and a well-crafted mix of national, regional and local tenants that provide daily necessities, needed services, entertainment and experiences.

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Dividend History for Whitestone REIT (NYSE:WSR)

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