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

Whitestone REIT (NYSE:WSR) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $15.35 and last traded at $15.2350, with a volume of 4110 shares trading hands. The stock had previously closed at $15.22.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on WSR shares. Truist Financial upped their target price on shares of Whitestone REIT from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Citigroup restated a “market outperform” rating on shares of Whitestone REIT in a report on Tuesday, January 6th. LADENBURG THALM/SH SH started coverage on Whitestone REIT in a research note on Tuesday, January 13th. They issued 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 research report on Monday, December 29th. Finally, Cantor Fitzgerald raised Whitestone REIT to a “strong-buy” rating in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $16.25.

Whitestone REIT Stock Down 1.2%

The company has a market cap of $768.62 million, a PE ratio of 17.72 and a beta of 0.81. The firm has a 50-day simple moving average of $14.29 and a two-hundred day simple moving average of $13.28. 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 announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be issued 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 is 63.53%.

Whitestone REIT announced that its board has initiated a stock buyback program 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 purchase up to 7.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

About Whitestone REIT

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.