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

Whitestone REIT (NYSE:WSR) released its quarterly earnings results 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 period in the prior year, the firm earned $0.24 earnings per share. Whitestone REIT updated its FY 2024 guidance to 0.980-1.040 EPS.

Whitestone REIT Stock Up 1.6 %

Whitestone REIT stock traded up $0.18 during mid-day trading on Thursday, reaching $11.78. The company’s stock had a trading volume of 374,130 shares, compared to its average volume of 319,608. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.80 and a current ratio of 1.80. The business’s 50 day simple moving average is $11.84 and its 200 day simple moving average is $11.67. The company has a market capitalization of $588.53 million, a price-to-earnings ratio of 30.76, a price-to-earnings-growth ratio of 1.92 and a beta of 1.19. Whitestone REIT has a 12 month low of $8.21 and a 12 month high of $13.12.

Whitestone REIT Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Tuesday, June 4th will be given a $0.0413 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date is Tuesday, June 4th. Whitestone REIT’s dividend payout ratio is presently 131.58%.

Wall Street Analyst Weigh In

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