Whitestone REIT (NYSE:WSR) Sets New 1-Year High – Here’s What Happened

Whitestone REIT (NYSE:WSR)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $19.10 and last traded at $19.0650, with a volume of 18892 shares trading hands. The stock had previously closed at $19.06.

Wall Street Analysts Forecast Growth

WSR has been the subject of a number of research reports. Weiss Ratings restated a “buy (b)” rating on shares of Whitestone REIT in a research note on Tuesday, April 14th. Cantor Fitzgerald cut shares of Whitestone REIT from a “strong-buy” rating to a “hold” rating in a report on Friday, April 10th. Citizens Jmp downgraded shares of Whitestone REIT from a “market outperform” rating to a “hold” rating in a research report on Friday, April 10th. B. Riley Financial cut Whitestone REIT from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Finally, Truist Financial downgraded Whitestone REIT from a “buy” rating to a “hold” rating and upped their target price for the company from $17.00 to $19.00 in a research report on Thursday, April 9th. One research analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $17.50.

Whitestone REIT Stock Performance

The stock’s 50-day moving average price is $18.46 and its 200-day moving average price is $15.85. The company has a market cap of $979.75 million, a P/E ratio of 19.86 and a beta of 0.78. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.34 and a quick ratio of 1.34.

Whitestone REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Wednesday, June 17th will be issued a $0.1425 dividend. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.57 dividend on an annualized basis and a yield of 3.0%. Whitestone REIT’s payout ratio is currently 59.38%.

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.