Whitestone REIT (NYSE:WSR) Sets New 52-Week High – Time to Buy?

Whitestone REIT (NYSE:WSR) hit a new 52-week high on Wednesday . The company traded as high as $19.01 and last traded at $19.0050, with a volume of 216083 shares changing hands. The stock had previously closed at $18.95.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. B. Riley Financial downgraded shares of Whitestone REIT from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Citigroup cut Whitestone REIT from a “market outperform” rating to a “market perform” rating in a research report on Friday, April 10th. Alliance Global Partners lowered shares of Whitestone REIT from a “buy” rating to a “hold” rating in a research note on Thursday, April 9th. Colliers Securities set a $19.00 price target on Whitestone REIT in a research note on Friday, April 10th. Finally, Maxim Group restated a “hold” rating on shares of Whitestone REIT in a research note on Monday, March 2nd. One research analyst has rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Whitestone REIT has an average rating of “Hold” and an average target price of $17.50.

Whitestone REIT Price Performance

The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.39. The company has a 50 day moving average of $17.15 and a two-hundred day moving average of $14.93. The firm has a market cap of $965.83 million, a P/E ratio of 19.97 and a beta of 0.80.

Whitestone REIT (NYSE:WSR) last issued its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). Whitestone REIT had a net margin of 31.04% and a return on equity of 11.23%. The business had revenue of $41.39 million during the quarter, compared to analyst estimates of $41.89 million. Sell-side analysts expect that Whitestone REIT will post 1.13 EPS for the current year.

Whitestone REIT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Wednesday, June 17th will be given a dividend of $0.1425 per share. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.57 dividend on an annualized basis and a dividend yield of 3.0%. Whitestone REIT’s payout ratio is 60.00%.

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.