Whitestone REIT (NYSE:WSR) Hits New 52-Week High – Here’s Why

Whitestone REIT (NYSE:WSR) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $15.02 and last traded at $14.95, with a volume of 203795 shares. The stock had previously closed at $14.64.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. JMP Securities reissued a “market outperform” rating and set a $16.00 price objective on shares of Whitestone REIT in a report on Tuesday, December 10th. Truist Financial boosted their target price on shares of Whitestone REIT from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Finally, StockNews.com initiated coverage on Whitestone REIT in a research report on Saturday. They set a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $15.67.

Whitestone REIT Price Performance

The company has a debt-to-equity ratio of 1.49, a current ratio of 2.17 and a quick ratio of 2.17. The stock’s fifty day moving average is $14.33 and its 200-day moving average is $13.70. The stock has a market capitalization of $765.26 million, a PE ratio of 35.71, a P/E/G ratio of 2.46 and a beta of 1.26.

Whitestone REIT Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Monday, March 3rd will be given a $0.045 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.57%. Whitestone REIT’s dividend payout ratio (DPR) is presently 131.71%.

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.