Is Whitestone REIT a Great Dividend Investment?
2019 was a wild year for many real estate investment trusts, or REITs. Shares of many advanced fast early in the year as the Federal Reserve cut interest rates (remember the inverse relationship between interest rates and capital-intensive assets like real estate), only to reverse course again once the Fed said the rate cuts were over for a while and the global economy flashed warning signs that a recession might be near.
Whitestone REIT (NYSE: WSR) has been no exception, with shares up as much as nearly 20% this year, but now currently sitting on a meager 8% calendar year return -- compared with a 29% advance for the S&P 500. However, as with other REITs, the real reason for making a buy is for the dividend income, and Whitestone currently yields 8.5% a year. The commercial property owner and manager isn't as solid as some of its peers, like Store Capital, but the quarterly payout goes a long way toward making this real estate portfolio worthy of a look.
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Source Fool.com
