Whitestone REIT (WSR) Announces Monthly Dividend of $0.10

Whitestone REIT (NYSE:WSR) announced a monthly dividend on Thursday, May 16th, Wall Street Journal reports. Shareholders of record on Tuesday, September 3rd will be paid a dividend of 0.095 per share by the real estate investment trust on Friday, September 13th. This represents a $1.14 dividend on an annualized basis and a yield of 8.81%. The ex-dividend date of this dividend is Friday, August 30th.

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. Equities research analysts expect Whitestone REIT to earn $0.95 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 120.0%.

Shares of WSR opened at $12.94 on Friday. The company has a debt-to-equity ratio of 1.79, a current ratio of 2.02 and a quick ratio of 2.02. The stock has a market capitalization of $511.82 million, a price-to-earnings ratio of 11.37 and a beta of 1.15. Whitestone REIT has a 52 week low of $11.40 and a 52 week high of $14.65.

Whitestone REIT (NYSE:WSR) last issued its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.15). The company had revenue of $29.69 million during the quarter, compared to analysts’ expectations of $31.20 million. Whitestone REIT had a return on equity of 5.90% and a net margin of 16.17%. As a group, research analysts anticipate that Whitestone REIT will post 0.93 earnings per share for the current fiscal year.

A number of brokerages have commented on WSR. Zacks Investment Research upgraded Whitestone REIT from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. ValuEngine cut Whitestone REIT from a “buy” rating to a “hold” rating in a research report on Thursday, February 28th. Maxim Group reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Whitestone REIT in a research note on Friday, March 1st. TheStreet lowered Whitestone REIT from a “b-” rating to a “c+” rating in a research note on Monday, April 1st. Finally, Boenning Scattergood reaffirmed a “buy” rating on shares of Whitestone REIT in a research note on Friday, March 1st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $14.10.

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About Whitestone REIT

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 optimal mix of national, regional and local tenants provides daily necessities, needed services and entertainment to the communities in which they are located.

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Dividend History for Whitestone REIT (NYSE:WSR)

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