Whitestone REIT (NYSE:WSR) Updates FY 2024 Earnings Guidance

Whitestone REIT (NYSE:WSR) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.980-1.040 for the period, compared to the consensus EPS estimate of 1.010. The company issued revenue guidance of -.

Whitestone REIT Price Performance

Shares of NYSE:WSR traded down $0.11 during midday trading on Wednesday, hitting $14.05. The company’s stock had a trading volume of 303,736 shares, compared to its average volume of 322,440. Whitestone REIT has a 12-month low of $9.47 and a 12-month high of $14.54. The company has a market cap of $703.34 million, a P/E ratio of 45.32, a price-to-earnings-growth ratio of 2.34 and a beta of 1.26. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.93 and a current ratio of 1.93. The business’s 50 day simple moving average is $13.58 and its 200 day simple moving average is $13.12.

Whitestone REIT Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, December 3rd will be given a $0.0413 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.52%. Whitestone REIT’s dividend payout ratio (DPR) is presently 161.29%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Truist Financial boosted their price objective on Whitestone REIT from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. StockNews.com started coverage on shares of Whitestone REIT in a research report on Sunday. They set a “hold” rating on the stock. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $15.00 target price on shares of Whitestone REIT in a research note on Thursday, September 19th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $15.00.

Insider Buying and Selling

In other Whitestone REIT news, Director Julia Bruns Buthman purchased 5,000 shares of Whitestone REIT stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average price of $12.99 per share, with a total value of $64,950.00. Following the completion of the transaction, the director now owns 8,093 shares of the company’s stock, valued at $105,128.07. This trade represents a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.50% of the stock is owned by corporate insiders.

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.