Whitestone REIT (NYSE:WSR) Sets New 12-Month High – Still a Buy?

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

Analyst Upgrades and Downgrades

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

Whitestone REIT Price Performance

The company’s 50 day moving average price is $14.10 and its 200 day moving average price is $13.15. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.74 and a current ratio of 1.74. The company has a market cap of $777.54 million, a price-to-earnings ratio of 17.93 and a beta of 0.81.

Whitestone REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be issued a dividend of $0.1425 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $0.57 annualized dividend and a dividend yield of 3.7%. Whitestone REIT’s dividend payout ratio (DPR) is presently 63.53%.

Whitestone REIT announced that its board has authorized a stock buyback program on Friday, December 19th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the real estate investment trust to reacquire up to 7.2% of its shares through open market purchases. Shares buyback programs are typically an indication 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.