Whitestone REIT (NYSE:WSR) announced a monthly dividend on Friday, June 16th, Wall Street Journal reports. Shareholders of record on Tuesday, September 5th will be paid a dividend of 0.095 per share by the real estate investment trust on Wednesday, September 13th. This represents a $1.14 annualized dividend and a dividend yield of 9.24%. The ex-dividend date is Thursday, August 31st.

Whitestone REIT has a dividend payout ratio of 108.6% 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 analysts expect Whitestone REIT to earn $1.10 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 103.6%.

Shares of Whitestone REIT (NYSE:WSR) traded down 0.49% during midday trading on Friday, hitting $12.28. The company’s stock had a trading volume of 346,421 shares. The company has a 50-day moving average price of $12.00 and a 200 day moving average price of $13.33. The company has a market cap of $467.33 million, a P/E ratio of 98.24 and a beta of 0.95. Whitestone REIT has a 1-year low of $10.80 and a 1-year high of $16.30.

Whitestone REIT (NYSE:WSR) last issued its earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.07. Whitestone REIT had a return on equity of 1.69% and a net margin of 4.11%. The business had revenue of $28.27 million during the quarter, compared to analyst estimates of $28.03 million. On average, equities research analysts predict that Whitestone REIT will post $0.27 EPS for the current year.

Dividend History for Whitestone REIT (NYSE:WSR)

WSR has been the subject of a number of research analyst reports. Zacks Investment Research raised Whitestone REIT from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Thursday, May 25th. Maxim Group reissued a “buy” rating and set a $20.00 price objective on shares of Whitestone REIT in a report on Wednesday. ValuEngine lowered Whitestone REIT from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Ladenburg Thalmann Financial Services reissued a “hold” rating on shares of Whitestone REIT in a report on Monday, May 22nd. Finally, Robert W. Baird lowered Whitestone REIT from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $15.00 to $10.00 in a report on Wednesday, May 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $14.33.

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Several institutional investors have recently made changes to their positions in WSR. Teachers Advisors LLC increased its position in shares of Whitestone REIT by 3.9% in the first quarter. Teachers Advisors LLC now owns 46,792 shares of the real estate investment trust’s stock worth $648,000 after buying an additional 1,741 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Whitestone REIT by 2.9% in the first quarter. Vanguard Group Inc. now owns 3,371,850 shares of the real estate investment trust’s stock worth $46,666,000 after buying an additional 93,822 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Whitestone REIT by 7.0% in the first quarter. Geode Capital Management LLC now owns 286,742 shares of the real estate investment trust’s stock worth $3,968,000 after buying an additional 18,634 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Whitestone REIT by 4.7% in the first quarter. Dimensional Fund Advisors LP now owns 401,497 shares of the real estate investment trust’s stock worth $5,557,000 after buying an additional 18,205 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Whitestone REIT by 2.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 216,182 shares of the real estate investment trust’s stock worth $2,992,000 after buying an additional 4,959 shares during the last quarter. Hedge funds and other institutional investors own 35.69% 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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