Whitestone REIT (NYSE:WSR) Hits New 52-Week High – Should You Buy?

Whitestone REIT (NYSE:WSR) reached a new 52-week high on Tuesday . The company traded as high as $14.75 and last traded at $14.69, with a volume of 8850 shares. The stock had previously closed at $14.66.

Analyst Ratings Changes

A number of equities analysts recently weighed in on WSR shares. JMP Securities reaffirmed a “market outperform” rating and issued a $15.00 price target on shares of Whitestone REIT in a report on Thursday, September 19th. Truist Financial increased their target price on Whitestone REIT from $14.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Finally, StockNews.com started coverage on Whitestone REIT in a report on Tuesday. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Whitestone REIT currently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

Whitestone REIT Stock Performance

The firm has a 50-day moving average price of $13.77 and a 200 day moving average price of $13.35. The firm has a market capitalization of $737.46 million, a PE ratio of 35.51, a price-to-earnings-growth ratio of 2.41 and a beta of 1.26. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 1.49.

Whitestone REIT Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.0413 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $0.50 annualized dividend and a dividend yield of 3.40%. Whitestone REIT’s dividend payout ratio is currently 121.95%.

Insider Transactions at Whitestone REIT

In related news, Director Julia Bruns Buthman acquired 5,000 shares of Whitestone REIT stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average cost of $12.99 per share, for a total transaction of $64,950.00. Following the completion of the purchase, the director now owns 8,093 shares in the company, valued at approximately $105,128.07. The trade was 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 this link. Company insiders own 5.50% of the company’s stock.

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.