Whitestone REIT (NYSE:WSR) Reaches New 12-Month High on Analyst Upgrade

Shares of Whitestone REIT (NYSE:WSR) hit a new 52-week high during trading on Wednesday after Cantor Fitzgerald upgraded the stock to a strong-buy rating. The stock traded as high as $14.79 and last traded at $14.7150, with a volume of 10468 shares. The stock had previously closed at $14.39.

Other equities research analysts also recently issued reports about the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Whitestone REIT in a research note on Monday, December 29th. Citigroup restated a “market outperform” rating on shares of Whitestone REIT in a research note on Tuesday, January 6th. Truist Financial increased their price objective on Whitestone REIT from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Finally, LADENBURG THALM/SH SH initiated coverage on Whitestone REIT in a report on Tuesday, January 13th. They issued a “buy” rating and a $17.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $16.25.

Whitestone REIT Stock Up 0.4%

The firm has a market capitalization of $766.07 million, a PE ratio of 17.66 and a beta of 0.81. The business’s fifty day moving average price is $13.87 and its 200 day moving average price is $13.04. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 1.44.

Whitestone REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Investors 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 yield of 3.8%. The ex-dividend date is Monday, March 16th. Whitestone REIT’s dividend payout ratio (DPR) is 63.53%.

Whitestone REIT announced that its Board of Directors has authorized a stock buyback plan 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 buy up to 7.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership 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.