Whitestone REIT (NYSE:WSR) Hits New 52-Week High – What’s Next?

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

Wall Street Analyst Weigh In

WSR has been the subject of a number of analyst reports. Truist Financial raised their price objective on shares of Whitestone REIT from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. JMP Securities reissued a “market outperform” rating and issued a $15.00 price target on shares of Whitestone REIT in a report on Thursday, September 19th. Finally, StockNews.com started coverage on shares of Whitestone REIT in a report on Monday. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $15.00.

Whitestone REIT Price Performance

The firm has a market capitalization of $720.24 million, a PE ratio of 34.37, a P/E/G ratio of 2.30 and a beta of 1.26. 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 business’s 50 day moving average is $13.63 and its two-hundred day moving average is $13.23.

Whitestone REIT Announces Dividend

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

Insider Activity at Whitestone REIT

In other news, Director Julia Bruns Buthman purchased 5,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was purchased at an average price of $12.99 per share, with a total value of $64,950.00. Following the completion of the purchase, the director now directly owns 8,093 shares in the company, valued at approximately $105,128.07. This trade represents a 100.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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.