Whitestone Reit (WSR) to Issue Monthly Dividend of $0.10 on December 9th
Whitestone Reit (NYSE:WSR) announced a monthly dividend on Thursday, September 22nd. Stockholders of record on Thursday, December 1st will be paid a dividend of 0.095 per share on Friday, December 9th. This represents a $1.14 annualized dividend and a dividend yield of 8.33%. The ex-dividend date is Tuesday, November 29th.
Shares of Whitestone Reit (NYSE:WSR) opened at 13.68 on Thursday. Whitestone Reit has a 52 week low of $9.44 and a 52 week high of $16.30. The stock has a 50 day moving average of $13.18 and a 200 day moving average of $14.24. The firm has a market cap of $400.17 million, a P/E ratio of 43.02 and a beta of 0.94.
A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Whitestone Reit by 7.8% in the second quarter. Vanguard Group Inc. now owns 3,090,884 shares of the company’s stock worth $46,611,000 after buying an additional 223,581 shares during the period. BlackRock Fund Advisors boosted its stake in Whitestone Reit by 6.9% in the third quarter. BlackRock Fund Advisors now owns 729,011 shares of the company’s stock worth $10,119,000 after buying an additional 47,244 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in Whitestone Reit during the third quarter worth $280,000. Alliancebernstein L.P. acquired a new stake in Whitestone Reit during the second quarter worth $287,000. Finally, State Street Corp boosted its stake in Whitestone Reit by 4.5% in the second quarter. State Street Corp now owns 399,326 shares of the company’s stock worth $6,018,000 after buying an additional 17,374 shares during the period. Institutional investors and hedge funds own 43.09% of the company’s stock.
WSR has been the topic of a number of analyst reports. Zacks Investment Research upgraded Whitestone Reit from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Saturday, November 5th. Maxim Group upped their price objective on Whitestone Reit from $18.50 to $20.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Finally, Robert W. Baird cut Whitestone Reit from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $16.00 to $15.00 in a research note on Friday, August 19th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Whitestone Reit presently has a consensus rating of “Hold” and an average price target of $15.13.
About Whitestone Reit
Whitestone REIT is a self-managed, real estate investment trust (REIT) that owns, manages and redevelops a portfolio of neighborhood, community and lifestyle retail centers. The Company’s strategy is to cater to shifting consumer behavior and purchasing patterns by creating an optimal mix of tenants who provide convenience and services and necessities to the community which are not readily available online.
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