2024-03-09 09:43:24 ET
Summary
- Whitestone REIT just hiked its monthly cash dividend by 3.2% after two years of keeping it constant.
- The REIT is set to benefit from its property portfolio's concentration on fast-growing sunbelt markets, particularly Arizona and Texas.
- WSR's dividend is expected to see a continued recovery on the back of double-digit leasing spreads and rising occupancy rates in its largest markets.
Whitestone REIT ( WSR ) just hiked its monthly cash dividend by 3.2% after two years of keeping the payout constant. The sunbelt-focused retail REIT declared a cash dividend of $0.04125 per share , roughly $0.495 per share annualized, for a 4.1% dividend yield. The distribution is still a long way away from its pre-pandemic level, but future growth is promising with WSR set to benefit from its property portfolio's concentration on fast-growing sunbelt markets, specifically Arizona and Texas, as double-digit leasing spreads and a prudent balance sheet look set to possibly drive a coming wave of dividend raises....
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Whitestone REIT: 4.1% Dividend Yield, Recent Hike And Sunbelt Focus