Brokerages Set Whitestone REIT (NYSE:WSR) PT at $16.25

Whitestone REIT (NYSE:WSR) has been assigned a consensus rating of “Buy” from the six brokerages that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $16.25.

Several research analysts recently issued reports on the company. LADENBURG THALM/SH SH started coverage on Whitestone REIT in a research report on Tuesday, January 13th. They set a “buy” rating and a $17.00 price objective for the company. Citigroup reissued a “market outperform” rating on shares of Whitestone REIT in a report on Tuesday, January 6th. Cantor Fitzgerald upgraded Whitestone REIT to a “strong-buy” rating in a research report on Wednesday, February 4th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Whitestone REIT in a research report on Monday, December 29th. Finally, Truist Financial boosted their target price on shares of Whitestone REIT from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th.

Whitestone REIT Price Performance

Whitestone REIT stock opened at $14.98 on Friday. Whitestone REIT has a 52 week low of $11.43 and a 52 week high of $15.09. 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 firm’s 50-day simple moving average is $13.91 and its 200 day simple moving average is $13.06. The firm has a market capitalization of $764.02 million, a PE ratio of 17.62 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 given a $0.1425 dividend. This represents a $0.57 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, March 16th. Whitestone REIT’s payout ratio is currently 63.53%.

Whitestone REIT declared that its Board of Directors has initiated a stock repurchase plan on Friday, December 19th that permits the company to buyback $50.00 million in outstanding 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 plans are typically a sign that the company’s board 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.