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

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on WSR shares. LADENBURG THALM/SH SH downgraded shares of Whitestone REIT from a “buy” rating to a “hold” rating in a research report on Thursday, April 9th. Alliance Global Partners downgraded Whitestone REIT from a “buy” rating to a “hold” rating in a research note on Thursday, April 9th. Cantor Fitzgerald downgraded Whitestone REIT from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. Colliers Securities set a $19.00 price target on Whitestone REIT in a research note on Friday, April 10th. Finally, B. Riley Financial cut shares of Whitestone REIT from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. One analyst has rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $17.50.

Whitestone REIT Stock Down 0.0%

The firm’s 50 day moving average is $18.58 and its two-hundred day moving average is $15.93. The stock has a market cap of $979.75 million, a price-to-earnings ratio of 19.86 and a beta of 0.78. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.39.

Whitestone REIT Announces Dividend

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

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.