Whitestone REIT (NYSE:WSR) Hits New 1-Year High – Time to Buy?

Whitestone REIT (NYSE:WSR) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $14.65 and last traded at $14.39, with a volume of 7032 shares. The stock had previously closed at $14.10.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Truist Financial upped their price target on Whitestone REIT from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. StockNews.com assumed coverage on Whitestone REIT in a research report on Monday. They issued a “hold” rating for the company. Finally, JMP Securities restated a “market outperform” rating and set a $15.00 price target on shares of Whitestone REIT in a research report on Thursday, September 19th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

Whitestone REIT Stock Up 0.9 %

The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 1.49. The company’s fifty day moving average price is $13.63 and its 200-day moving average price is $13.23. The stock has a market capitalization of $720.24 million, a PE ratio of 34.37, a price-to-earnings-growth ratio of 2.30 and a beta of 1.26.

Whitestone REIT Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.0413 per share. This represents a $0.50 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend is Tuesday, December 3rd. Whitestone REIT’s payout ratio is 121.95%.

Insider Transactions at Whitestone REIT

In other news, Director Julia Bruns Buthman bought 5,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was acquired at an average cost of $12.99 per share, with a total value of $64,950.00. Following the completion of the acquisition, the director now owns 8,093 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. 5.50% of the stock is owned by insiders.

About Whitestone REIT

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.