Whitestone REIT (NYSE:WSR) Sets New 1-Year High – Here’s Why

Whitestone REIT (NYSE:WSR) hit a new 52-week high during trading on Tuesday . The company traded as high as $15.30 and last traded at $15.2060, with a volume of 2075 shares trading hands. The stock had previously closed at $15.21.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WSR. Truist Financial lifted their price target on Whitestone REIT from $15.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Citigroup reiterated a “market outperform” rating on shares of Whitestone REIT in a research note on Tuesday, January 6th. Weiss Ratings restated a “buy (b-)” rating on shares of Whitestone REIT in a research note on Monday, December 29th. LADENBURG THALM/SH SH started coverage on shares of Whitestone REIT in a research note on Tuesday, January 13th. They issued a “buy” rating and a $17.00 price objective for the company. Finally, Cantor Fitzgerald raised shares of Whitestone REIT to a “strong-buy” rating in a research report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $16.25.

Whitestone REIT Stock Up 0.2%

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 firm’s fifty day moving average is $14.10 and its 200 day moving average is $13.15. The stock has a market cap of $777.54 million, a P/E ratio of 17.93 and a beta of 0.81.

Whitestone REIT Dividend Announcement

The firm 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 dividend of $0.1425 per share. The ex-dividend date is Monday, March 16th. This represents a $0.57 annualized dividend and a yield of 3.7%. Whitestone REIT’s dividend payout ratio is presently 63.53%.

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