Whitestone REIT (NYSE:WSR) Receives Consensus Rating of “Buy” from Brokerages

Shares of Whitestone REIT (NYSE:WSR) have received an average recommendation of “Buy” from the six analysts that are covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $16.25.

A number of brokerages have recently issued reports on WSR. LADENBURG THALM/SH SH started coverage on shares of Whitestone REIT in a research report on Tuesday, January 13th. They set 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. Citigroup reissued a “market outperform” rating on shares of Whitestone REIT in a report on Tuesday, January 6th. Cantor Fitzgerald raised Whitestone REIT to a “strong-buy” rating in a research note on Wednesday. Finally, Truist Financial lifted their price objective on Whitestone REIT from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th.

Whitestone REIT Stock Performance

Shares of NYSE WSR opened at $15.02 on Friday. Whitestone REIT has a 12-month low of $11.43 and a 12-month high of $15.09. The firm has a market capitalization of $766.07 million, a price-to-earnings ratio of 17.66 and a beta of 0.81. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 1.44. The firm has a 50 day moving average of $13.87 and a 200 day moving average of $13.04.

Whitestone REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be issued a dividend of $0.1425 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $0.57 annualized dividend and a yield of 3.8%. Whitestone REIT’s payout ratio is currently 63.53%.

Whitestone REIT declared that its Board of Directors has authorized a stock repurchase plan 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 reacquire up to 7.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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.