Whitestone REIT (NYSE:WSR) Receives Average Recommendation of “Buy” from Brokerages

Whitestone REIT (NYSE:WSR) has been given an average rating of “Buy” by the six analysts that are presently covering the stock, Marketbeat.com reports. Five 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 brokerages that have covered the stock in the last year is $16.25.

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

Whitestone REIT Price Performance

WSR stock opened at $15.23 on Friday. The business has a 50 day moving average price of $14.06 and a 200 day moving average price of $13.12. 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 stock has a market cap of $777.24 million, a price-to-earnings ratio of 17.92 and a beta of 0.81. Whitestone REIT has a fifty-two week low of $11.43 and a fifty-two week high of $15.29.

Whitestone REIT declared that its board has approved a share repurchase plan on Friday, December 19th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to repurchase up to 7.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Whitestone REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders 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 dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, March 16th. Whitestone REIT’s payout ratio is presently 67.06%.

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.