Whitestone REIT (NYSE:WSR) Given Average Recommendation of “Buy” by Analysts

Whitestone REIT (NYSE:WSR) has earned an average rating of “Buy” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $16.25.

WSR has been the topic of a number of analyst reports. Truist Financial boosted their price target on 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 research note on Tuesday, January 6th. LADENBURG THALM/SH SH assumed coverage on shares of Whitestone REIT in a research note on Tuesday, January 13th. They issued a “buy” rating and a $17.00 target price on the stock. Cantor Fitzgerald upgraded shares of Whitestone REIT to a “strong-buy” rating in a report on Wednesday. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Whitestone REIT in a report on Monday, December 29th.

Whitestone REIT Stock Up 0.4%

NYSE:WSR opened at $15.02 on Friday. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.74 and a quick ratio of 1.74. The firm’s 50-day moving average price is $13.87 and its 200-day moving average price is $13.04. The company has a market capitalization of $766.07 million, a PE ratio of 17.66 and a beta of 0.81. Whitestone REIT has a 1-year low of $11.43 and a 1-year high of $15.09.

Whitestone REIT Dividend Announcement

The business 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 dividend of $0.1425 per share. The ex-dividend date is Monday, March 16th. This represents a $0.57 dividend on an annualized basis and a yield of 3.8%. Whitestone REIT’s dividend payout ratio is 63.53%.

Whitestone REIT announced that its Board of Directors has authorized a share repurchase plan on Friday, December 19th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the real estate investment trust to purchase up to 7.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management 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.