Whitestone REIT (NYSE:WSR) Hits New 12-Month High – Still a Buy?

Whitestone REIT (NYSE:WSR) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $19.01 and last traded at $19.0150, with a volume of 130092 shares changing hands. The stock had previously closed at $18.99.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on WSR shares. Citizens Jmp downgraded shares of Whitestone REIT from a “market outperform” rating to a “hold” rating in a research report on Friday, April 10th. Citigroup downgraded shares of Whitestone REIT from a “market outperform” rating to a “market perform” rating in a research report on Friday, April 10th. Maxim Group restated a “hold” rating on shares of Whitestone REIT in a research report on Monday, March 2nd. Cantor Fitzgerald downgraded shares of Whitestone REIT from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. Finally, Alliance Global Partners downgraded shares of Whitestone REIT from a “buy” rating to a “hold” rating in a research report on Thursday, April 9th. One analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $17.50.

Whitestone REIT Stock Performance

The business’s 50-day simple moving average is $18.12 and its two-hundred day simple moving average is $15.61. The firm has a market cap of $977.69 million, a price-to-earnings ratio of 19.82 and a beta of 0.80. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.39.

Whitestone REIT (NYSE:WSR) last issued its quarterly earnings data on Wednesday, February 25th. The real estate investment trust reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.15. The business had revenue of $43.92 million during the quarter, compared to the consensus estimate of $41.27 million. Whitestone REIT had a net margin of 30.67% and a return on equity of 11.12%. As a group, sell-side analysts expect that Whitestone REIT will post 1.13 earnings per share for the current fiscal year.

Whitestone REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Wednesday, June 17th will be given a $0.1425 dividend. The ex-dividend date is Wednesday, June 17th. This represents a $0.57 dividend on an annualized basis and a dividend yield of 3.0%. Whitestone REIT’s dividend payout ratio is 59.38%.

Whitestone REIT Company Profile

Whitestone REIT is a real estate investment trust headquartered in San Antonio, Texas, that specializes in the acquisition, development and management of retail and mixed-use properties. The company’s portfolio is concentrated in high-growth Texas markets, including the Dallas–Fort Worth metroplex, Houston, Austin and San Antonio, where it primarily owns open-air neighborhood and community shopping centers. Whitestone REIT focuses on convenience- and necessity-based retail, partnering with grocers, fitness operators, service providers and other essential tenants to drive consistent foot traffic and stable occupancy.

In addition to property ownership, Whitestone REIT provides asset and property management services, leasing expertise and development capabilities.