Whitestone REIT (NYSE:WSR) Issues Earnings Results, Misses Estimates By $0.06 EPS

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

Whitestone REIT Stock Performance

Shares of NYSE:WSR traded up $0.10 during midday trading on Thursday, reaching $11.70. The company had a trading volume of 244,032 shares, compared to its average volume of 319,476. The company’s 50 day moving average price is $11.84 and its 200 day moving average price is $11.67. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 1.53. The stock has a market cap of $584.53 million, a P/E ratio of 30.76, a P/E/G ratio of 1.92 and a beta of 1.19. Whitestone REIT has a 52-week low of $8.21 and a 52-week high of $13.12.

Whitestone REIT Announces Dividend

The business also recently declared 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. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date of this dividend is Tuesday, June 4th. Whitestone REIT’s dividend payout ratio (DPR) is currently 131.58%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Alliance Global Partners assumed coverage on shares of Whitestone REIT in a report on Monday, March 18th. They set a “buy” rating and a $15.00 price target for the company. JMP Securities restated a “market outperform” rating and set a $15.00 price target on shares of Whitestone REIT in a report on Wednesday, April 10th. Truist Financial upgraded shares of Whitestone REIT from a “hold” rating to a “buy” rating and raised their price target for the stock from $11.00 to $13.50 in a report on Tuesday, January 16th. Finally, B. Riley reiterated a “neutral” rating on shares of Whitestone REIT in a research note on Friday, February 2nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $13.63.

About Whitestone REIT

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.