Whitestone REIT (NYSE:WSR) Upgraded at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Whitestone REIT (NYSE:WSR) to a strong-buy rating in a research report sent to investors on Wednesday,Zacks.com reports.

Other equities research analysts have also issued reports about the company. LADENBURG THALM/SH SH started coverage on Whitestone REIT in a research note on Tuesday, January 13th. They set a “buy” rating and a $17.00 price target for the company. Truist Financial boosted their target price on Whitestone REIT from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Weiss Ratings restated a “buy (b-)” rating on shares of Whitestone REIT in a report on Monday, December 29th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Whitestone REIT in a research report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $16.25.

Whitestone REIT Stock Performance

NYSE:WSR opened at $15.02 on Wednesday. The company has a market cap of $766.07 million, a P/E ratio of 17.66 and a beta of 0.81. The firm’s 50 day moving average is $13.87 and its two-hundred day moving average is $13.04. Whitestone REIT has a fifty-two week low of $11.43 and a fifty-two week high of $15.09. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 1.44.

Whitestone REIT Announces Dividend

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

Whitestone REIT declared that its Board of Directors has approved a share repurchase program on Friday, December 19th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to buy up to 7.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is 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.