Whitestone REIT (NYSE:WSR) Upgraded by Cantor Fitzgerald to Strong-Buy Rating

Whitestone REIT (NYSE:WSR) was upgraded by investment analysts at Cantor Fitzgerald to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

A number of other equities analysts have also recently commented on WSR. Citigroup restated a “market outperform” rating on shares of Whitestone REIT in a report on Tuesday, January 6th. LADENBURG THALM/SH SH started coverage on shares of Whitestone REIT in a report on Tuesday, January 13th. They issued a “buy” rating and a $17.00 price objective for the company. Truist Financial increased their target price on shares of Whitestone REIT from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Whitestone REIT in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company’s stock. According to data from MarketBeat, Whitestone REIT currently has a consensus rating of “Buy” and an average target price of $16.25.

Whitestone REIT Stock Performance

NYSE:WSR opened at $14.72 on Wednesday. Whitestone REIT has a fifty-two week low of $11.43 and a fifty-two week high of $14.80. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.74 and a current ratio of 1.74. The company has a 50 day moving average price of $13.81 and a 200 day moving average price of $13.01. The stock has a market capitalization of $751.01 million, a P/E ratio of 17.32 and a beta of 0.81.

Whitestone REIT announced that its board has initiated a stock buyback program on Friday, December 19th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the real estate investment trust to repurchase up to 7.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

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.