Some of this REIT’s household name tenants are: Whole Foods, Kroger, Petco, U.S. Bank, Chase, and Five Guys. The REIT has a current annual dividend yield of 5.38%, paid monthly.
Whitestone REIT (WSR)
From Sure Dividend
Whitestone is a retail REIT that owns about 58 properties with some 5.0 million square feet of gross leasable area, primarily in top U.S. markets in Texas and Arizona.
Its tenant base is very diversified with nearly 1,400 tenants. The top five industries are restaurant & food service, grocery, financial services, salons, and medical & dental.
During the pandemic, the REIT rightly halted acquisitions and development projects, and reduced expenses, as it focuses on improving its financial position and liquidity. The February 2021 dividend increase is a good sign.
Management believes, post-pandemic, investments in acquisitions, re-development, and development projects can drive returns of at least 10%.
At the end of 2020, Whitestone had a debt-to-equity ratio of about 2.1x. Whitestone has no real estate debt maturing in 2021.
Ben Reynolds & Bob Ciura, Sure Dividend Newsletter, suredividend.com, support@suredividend.com, 800-531-0465, July 2, 2021