Whitestone REIT (NYSE:WSR) Receives $16.25 Consensus Target Price from Analysts

Shares of Whitestone REIT (NYSE:WSR) have received a consensus rating of “Buy” from the six brokerages that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $16.25.

WSR has been the topic of a number of recent research reports. Truist Financial upped their price target on Whitestone REIT from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Citigroup reaffirmed a “market outperform” rating on shares of Whitestone REIT in a report on Tuesday, January 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Whitestone REIT in a research report on Monday, December 29th. LADENBURG THALM/SH SH assumed coverage on shares of Whitestone REIT in a research report on Tuesday, January 13th. They issued a “buy” rating and a $17.00 price target on the stock. Finally, Cantor Fitzgerald raised shares of Whitestone REIT to a “strong-buy” rating in a report on Wednesday, February 4th.

Whitestone REIT Trading Down 0.4%

Shares of Whitestone REIT stock opened at $14.95 on Friday. The firm has a market cap of $762.49 million, a PE ratio of 17.58 and a beta of 0.81. Whitestone REIT has a 1 year low of $11.43 and a 1 year high of $15.10. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.74 and a quick ratio of 1.74. The stock has a fifty day moving average price of $13.98 and a 200-day moving average price of $13.09.

Whitestone REIT declared that its board has approved a stock repurchase program on Friday, December 19th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to purchase up to 7.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Whitestone REIT Dividend Announcement

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

About Whitestone REIT

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.