Whitestone REIT (NYSE:WSR) Releases 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

NYSE:WSR traded down $0.11 during mid-day 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. The company has a market capitalization of $703.34 million, a price-to-earnings ratio of 45.32, a P/E/G ratio of 2.34 and a beta of 1.26. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 1.57. Whitestone REIT has a fifty-two week low of $9.47 and a fifty-two week high of $14.54. The stock has a fifty day moving average of $13.58 and a 200-day moving average of $13.12.

Whitestone REIT Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have recently commented on the company. StockNews.com assumed coverage on Whitestone REIT in a report on Sunday. They issued a “hold” rating on the stock. Truist Financial lifted their price objective on Whitestone REIT from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Finally, JMP Securities restated a “market outperform” rating and set a $15.00 target price on shares of Whitestone REIT in a report on Thursday, September 19th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

Insider Activity

In related news, Director Julia Bruns Buthman acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average price of $12.99 per share, for a total transaction of $64,950.00. Following the transaction, the director now directly owns 8,093 shares of the company’s stock, valued at approximately $105,128.07. This trade represents a 100.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.50% of the stock is owned by 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.