Whitestone REIT (NYSE:WSR) Posts Earnings Results, Misses Expectations By $0.06 EPS

Whitestone REIT (NYSE:WSR) issued its quarterly earnings results on Wednesday. The real estate investment trust reported $0.18 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.06), Zacks reports. Whitestone REIT had a return on equity of 4.51% and a net margin of 13.05%. The firm had revenue of $37.16 million for the quarter, compared to analysts’ expectations of $38.00 million. During the same quarter in the previous year, the firm posted $0.24 earnings per share. Whitestone REIT updated its FY 2024 guidance to 0.980-1.040 EPS.

Whitestone REIT Stock Up 0.8 %

NYSE WSR traded up $0.09 during trading hours on Thursday, hitting $11.69. 151,561 shares of the company were exchanged, compared to its average volume of 318,390. The company has a 50 day moving average of $11.84 and a two-hundred day moving average of $11.67. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 1.53. Whitestone REIT has a 52-week low of $8.21 and a 52-week high of $13.12. The firm has a market cap of $584.03 million, a price-to-earnings ratio of 30.53, a PEG ratio of 1.92 and a beta of 1.19.

Whitestone REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, June 13th. Investors of record on Tuesday, June 4th will be issued a $0.0413 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $0.50 annualized dividend and a dividend yield of 4.23%. Whitestone REIT’s dividend payout ratio is presently 131.58%.

Wall Street Analyst Weigh In

WSR has been the subject of several research reports. Truist Financial upgraded Whitestone REIT from a “hold” rating to a “buy” rating and boosted their price target for the stock from $11.00 to $13.50 in a research report on Tuesday, January 16th. JMP Securities reissued a “market outperform” rating and set a $15.00 price objective on shares of Whitestone REIT in a research note on Wednesday, April 10th. B. Riley reissued a “neutral” rating on shares of Whitestone REIT in a research note on Friday, February 2nd. Finally, Alliance Global Partners began coverage on Whitestone REIT in a research note on Monday, March 18th. They set a “buy” rating and a $15.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $13.63.

Whitestone REIT Company Profile

Whitestone REIT (NYSE: WSR) is a community-centered real estate investment trust (REIT) that acquires, owns, operates, and develops open-air, retail centers located in some of the fastest growing markets in the country: Phoenix, Austin, Dallas-Fort Worth, Houston and San Antonio. Our centers are convenience focused: merchandised with a mix of service-oriented tenants providing food (restaurants and grocers), self-care (health and fitness), services (financial and logistics), education and entertainment to the surrounding communities.