Whitestone REIT (NYSE:WSR) Reaches New 12-Month High – What’s Next?

Whitestone REIT (NYSE:WSR) shares hit 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 traded. The stock had previously closed at $15.22.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on WSR. Citigroup restated a “market outperform” rating on shares of Whitestone REIT in a report on Tuesday, January 6th. Cantor Fitzgerald upgraded shares of Whitestone REIT to a “strong-buy” rating in a research report on Wednesday, February 4th. LADENBURG THALM/SH SH began 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 for the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Whitestone REIT in a report on Monday, December 29th. Finally, Truist Financial boosted their target price on Whitestone REIT from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. Based on data from MarketBeat, Whitestone REIT has an average rating of “Buy” and a consensus target price of $16.25.

Whitestone REIT Price Performance

The stock has a market cap of $775.96 million, a PE ratio of 17.88 and a beta of 0.81. The stock’s fifty day moving average is $14.23 and its 200-day moving average is $13.24. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.74 and a quick ratio of 1.74.

Whitestone REIT Dividend Announcement

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

Whitestone REIT announced that its Board of Directors has initiated a share 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 stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors 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.