Whitestone REIT (NYSE:WSR) Sees Large Increase in Short Interest

Whitestone REIT (NYSE:WSR) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 389,600 shares, an increase of 29.1% from the February 28th total of 301,700 shares. Currently, 0.8% of the company’s stock are sold short. Based on an average daily trading volume, of 229,700 shares, the short-interest ratio is currently 1.7 days.

Whitestone REIT Stock Performance

NYSE:WSR traded up $0.08 during trading hours on Monday, reaching $14.61. The stock had a trading volume of 241,188 shares, compared to its average volume of 282,161. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.17 and a current ratio of 2.17. The stock has a market cap of $743.32 million, a P/E ratio of 35.62, a price-to-earnings-growth ratio of 2.13 and a beta of 1.29. Whitestone REIT has a 12-month low of $10.77 and a 12-month high of $15.42. The stock has a 50 day simple moving average of $13.80 and a 200 day simple moving average of $13.96.

Whitestone REIT Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, June 2nd will be issued a $0.045 dividend. This represents a $0.54 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend is Monday, June 2nd. Whitestone REIT’s dividend payout ratio (DPR) is presently 76.06%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on WSR shares. StockNews.com started coverage on Whitestone REIT in a report on Friday. They issued a “hold” rating for the company. Truist Financial raised their target price on Whitestone REIT from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, March 18th. Finally, JMP Securities reissued a “market outperform” rating and issued a $16.00 price target on shares of Whitestone REIT in a report on Tuesday, December 10th.

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.