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

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

Whitestone REIT Price Performance

WSR traded up $0.10 during trading on Thursday, reaching $11.70. 244,032 shares of the company were exchanged, compared to its average volume of 319,476. The company’s 50-day moving average is $11.84 and its two-hundred day moving average is $11.67. The company has a market cap of $584.53 million, a price-to-earnings ratio of 30.76, a P/E/G ratio of 1.92 and a beta of 1.19. 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 12-month low of $8.21 and a 12-month high of $13.12.

Whitestone REIT Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have issued reports on WSR shares. Truist Financial upgraded Whitestone REIT from a “hold” rating to a “buy” rating and upped their price objective for the company from $11.00 to $13.50 in a research note on Tuesday, January 16th. JMP Securities restated a “market outperform” rating and issued a $15.00 price objective on shares of Whitestone REIT in a research note on Wednesday, April 10th. B. Riley restated 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 report on Monday, March 18th. They set a “buy” rating and a $15.00 price target on the stock. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.