Whitestone REIT (NYSE:WSR) announced a monthly dividend on Thursday, March 26th, Wall Street Journal reports. Investors of record on Monday, May 4th will be given a dividend of 0.035 per share by the real estate investment trust on Wednesday, May 13th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 6.15%. The ex-dividend date is Friday, May 1st.
Whitestone REIT has a payout ratio of 58.8% indicating that its dividend is sufficiently covered by earnings.
Shares of NYSE:WSR traded up $0.74 during mid-day trading on Thursday, reaching $6.83. The company had a trading volume of 509,483 shares, compared to its average volume of 322,605. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.83. The firm has a market cap of $256.08 million, a price-to-earnings ratio of 12.20 and a beta of 1.03. The company’s 50-day moving average price is $11.46 and its 200-day moving average price is $13.07. Whitestone REIT has a one year low of $5.61 and a one year high of $14.65.
In related news, Director Jeffrey Alan Jones purchased 6,250 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average price of $12.00 per share, with a total value of $75,000.00. Following the acquisition, the director now owns 6,250 shares of the company’s stock, valued at approximately $75,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO James C. Mastandrea purchased 10,000 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average cost of $12.39 per share, for a total transaction of $123,900.00. Following the acquisition, the chief executive officer now directly owns 1,198,932 shares in the company, valued at approximately $14,854,767.48. The disclosure for this purchase can be found here. Insiders own 5.60% of the company’s stock.
Separately, Zacks Investment Research raised shares of Whitestone REIT from a “sell” rating to a “hold” rating in a report on Saturday, December 7th.
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.
Read More: Why is the ex-dividend date different from the record date?
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