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

Shares of Whitestone REIT (NYSE:WSR) reached a new 52-week high during trading on Monday . The stock traded as high as $15.35 and last traded at $15.2350, with a volume of 4110 shares trading hands. The stock had previously closed at $15.22.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Whitestone REIT in a report on Monday, December 29th. Citigroup restated a “market outperform” rating on shares of Whitestone REIT in a research note on Tuesday, January 6th. Cantor Fitzgerald upgraded Whitestone REIT to a “strong-buy” rating in a research report on Wednesday, February 4th. Truist Financial boosted 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. Finally, LADENBURG THALM/SH SH initiated coverage on shares of Whitestone REIT in a research note on Tuesday, January 13th. They set a “buy” rating and a $17.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $16.25.

Whitestone REIT Price Performance

The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $775.96 million, a price-to-earnings ratio of 17.88 and a beta of 0.81. The stock’s 50-day simple moving average is $14.23 and its two-hundred day simple moving average is $13.24.

Whitestone REIT Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, March 16th. This represents a $0.57 dividend on an annualized basis and a yield of 3.7%. Whitestone REIT’s dividend payout ratio (DPR) is currently 63.53%.

Whitestone REIT announced that its board has initiated a stock buyback program on Friday, December 19th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to repurchase up to 7.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

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.