Whitestone REIT (NYSE:WSR) Hits New 1-Year High – Here’s Why

Whitestone REIT (NYSE:WSR) reached a new 52-week high during trading on Friday . The stock traded as high as $14.53 and last traded at $14.48, with a volume of 46335 shares. The stock had previously closed at $14.39.

Wall Street Analyst Weigh In

Several brokerages have issued reports on WSR. Truist Financial boosted their price target on Whitestone REIT from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. JMP Securities reiterated a “market outperform” rating and set a $15.00 target price on shares of Whitestone REIT in a research report on Thursday, September 19th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Whitestone REIT presently has an average rating of “Moderate Buy” and an average target price of $15.00.

Whitestone REIT Trading Up 0.4 %

The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.93 and a current ratio of 1.93. The business has a 50 day moving average of $13.42 and a two-hundred day moving average of $12.96. The firm has a market capitalization of $721.92 million, a price-to-earnings ratio of 29.98, a P/E/G ratio of 2.32 and a beta of 1.26.

Whitestone REIT Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, December 3rd will be given a $0.0413 dividend. This represents a $0.50 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend is Tuesday, December 3rd. Whitestone REIT’s payout ratio is currently 102.08%.

Insider Buying and Selling at Whitestone REIT

In other Whitestone REIT news, Director Julia Bruns Buthman acquired 5,000 shares of Whitestone REIT stock in a transaction dated Wednesday, September 4th. The stock was purchased at an average cost of $12.99 per share, for a total transaction of $64,950.00. Following the completion of the acquisition, the director now directly owns 8,093 shares of the company’s stock, valued at $105,128.07. This represents a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.50% of the stock is currently owned by company insiders.

Whitestone REIT Company Profile

Whitestone REIT (NYSE: WSR) is a community-centered real estate investment trust (REIT) that acquires, owns, operates, and develops open-air, retail centers located in some of the fastest growing markets in the country: Phoenix, Austin, Dallas-Fort Worth, Houston and San Antonio. Our centers are convenience focused: merchandised with a mix of service-oriented tenants providing food (restaurants and grocers), self-care (health and fitness), services (financial and logistics), education and entertainment to the surrounding communities.