StockNews.com Initiates Coverage on Whitestone REIT (NYSE:WSR)

StockNews.com assumed coverage on shares of Whitestone REIT (NYSE:WSR) in a research report sent to investors on Thursday morning. The brokerage issued a hold rating on the real estate investment trust’s stock.

WSR has been the subject of a number of other reports. Truist Financial boosted their price objective on Whitestone REIT from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. JMP Securities reiterated a “market outperform” rating and set a $15.00 price objective on shares of Whitestone REIT in a research note on Thursday, September 19th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Whitestone REIT Trading Up 0.3 %

Shares of NYSE:WSR opened at $14.88 on Thursday. The stock has a market capitalization of $753.67 million, a price-to-earnings ratio of 36.29, a PEG ratio of 2.45 and a beta of 1.26. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.17 and a current ratio of 2.17. The stock’s 50-day simple moving average is $14.06 and its two-hundred day simple moving average is $13.53. Whitestone REIT has a 52-week low of $10.77 and a 52-week high of $15.01.

Whitestone REIT Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, December 3rd will be paid a $0.0413 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.50 annualized dividend and a yield of 3.33%. Whitestone REIT’s payout ratio is 121.95%.

Insiders Place Their Bets

In other Whitestone REIT news, Director Julia Bruns Buthman purchased 5,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was acquired at an average cost of $12.99 per share, for a total transaction of $64,950.00. Following the purchase, the director now directly owns 8,093 shares of the company’s stock, valued at $105,128.07. This trade represents a 161.66 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.50% of the stock is currently owned by corporate insiders.

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.