Whitestone REIT (NYSE:WSR) Hits New 52-Week High on Analyst Upgrade

Whitestone REIT (NYSE:WSR)’s stock price hit a new 52-week high during mid-day trading on Wednesday after Cantor Fitzgerald upgraded the stock to a strong-buy rating. The company traded as high as $14.79 and last traded at $14.7150, with a volume of 10468 shares trading hands. The stock had previously closed at $14.39.

Several other equities research analysts have also recently issued reports on WSR. Citigroup reaffirmed a “market outperform” rating on shares of Whitestone REIT in a research note on Tuesday, January 6th. Truist Financial raised their price target on shares of Whitestone REIT from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Weiss Ratings restated a “buy (b-)” rating on shares of Whitestone REIT in a research report on Monday, December 29th. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Whitestone REIT in a report on Tuesday, January 13th. They issued a “buy” rating and a $17.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $16.25.

Whitestone REIT Stock Performance

The firm’s fifty day moving average is $13.87 and its 200-day moving average is $13.04. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 1.44. The stock has a market capitalization of $766.07 million, a PE ratio of 17.66 and a beta of 0.81.

Whitestone REIT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be issued a $0.1425 dividend. This represents a $0.57 annualized dividend and a yield of 3.8%. The ex-dividend date is Monday, March 16th. Whitestone REIT’s dividend payout ratio (DPR) is 63.53%.

Whitestone REIT announced that its Board of Directors has authorized a share buyback plan on Friday, December 19th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the real estate investment trust to purchase up to 7.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Whitestone REIT Company Profile

Whitestone REIT is a real estate investment trust headquartered in San Antonio, Texas, that specializes in the acquisition, development and management of retail and mixed-use properties. The company’s portfolio is concentrated in high-growth Texas markets, including the Dallas–Fort Worth metroplex, Houston, Austin and San Antonio, where it primarily owns open-air neighborhood and community shopping centers. Whitestone REIT focuses on convenience- and necessity-based retail, partnering with grocers, fitness operators, service providers and other essential tenants to drive consistent foot traffic and stable occupancy.

In addition to property ownership, Whitestone REIT provides asset and property management services, leasing expertise and development capabilities.