Whitestone REIT (NYSE:WSR) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of Whitestone REIT (NYSE:WSR) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.93 and traded as high as $14.25. Whitestone REIT shares last traded at $14.2450, with a volume of 144,638 shares changing hands.

Analysts Set New Price Targets

A number of research firms have commented on WSR. LADENBURG THALM/SH SH initiated coverage on shares of Whitestone REIT in a research note on Tuesday, January 13th. They issued a “buy” rating and a $17.00 price objective on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Whitestone REIT in a research note on Monday, December 29th. Truist Financial upped their price target on Whitestone REIT from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Finally, Citigroup reiterated a “market outperform” rating on shares of Whitestone REIT in a research report on Tuesday, January 6th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $16.33.

Whitestone REIT Stock Up 0.8%

The firm’s 50 day moving average is $13.68 and its 200-day moving average is $12.93. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 1.44. The firm has a market cap of $726.78 million, a PE ratio of 16.76 and a beta of 0.81.

Whitestone REIT (NYSE:WSR) last posted its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. Whitestone REIT had a return on equity of 10.10% and a net margin of 28.16%.The business had revenue of $41.05 million for the quarter, compared to analysts’ expectations of $39.21 million. As a group, equities research analysts expect that Whitestone REIT will post 0.99 earnings per share for the current fiscal year.

Whitestone REIT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be issued a $0.1425 dividend. This represents a $0.57 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Monday, March 16th. Whitestone REIT’s dividend payout ratio (DPR) is 63.53%.

Whitestone REIT declared that its Board of Directors has authorized a share buyback plan on Friday, December 19th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to reacquire up to 7.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

About Whitestone REIT

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.