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

Whitestone REIT (NYSE:WSR) shares reached a new 52-week high on Friday . The company 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

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

Whitestone REIT Stock Up 0.7 %

The firm has a market cap of $723.92 million, a price-to-earnings ratio of 30.19, a PEG ratio of 2.32 and a beta of 1.26. The business’s 50-day moving average is $13.45 and its 200-day moving average is $12.97. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.93 and a current ratio of 1.93.

Whitestone REIT Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, December 3rd will be paid a $0.0413 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date is Tuesday, December 3rd. Whitestone REIT’s dividend payout ratio (DPR) is currently 102.08%.

Insider Transactions at Whitestone REIT

In other Whitestone REIT news, Director Julia Bruns Buthman acquired 5,000 shares of Whitestone REIT stock in a transaction on Wednesday, September 4th. The shares were bought 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 owns 8,093 shares in the company, valued at $105,128.07. This trade represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.50% of the stock is owned by company 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.