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

StockNews.com initiated coverage on shares of Whitestone REIT (NYSE:WSR) in a report published on Tuesday. The firm issued a hold rating on the real estate investment trust’s stock.

Several other research analysts have also recently issued reports on the company. Truist Financial increased their price objective on Whitestone REIT from $14.00 to $15.00 and gave the stock a “buy” rating in a research report 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 report on Thursday, September 19th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $15.00.

Whitestone REIT Price Performance

WSR stock opened at $14.34 on Tuesday. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 1.49. The business has a 50 day simple moving average of $13.82 and a 200-day simple moving average of $13.37. Whitestone REIT has a twelve month low of $10.77 and a twelve month high of $14.80. The company has a market capitalization of $726.32 million, a P/E ratio of 34.98, a PEG ratio of 2.40 and a beta of 1.26.

Whitestone REIT Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, December 3rd will be given a dividend of $0.0413 per share. This represents a $0.50 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Tuesday, December 3rd. Whitestone REIT’s dividend payout ratio is presently 121.95%.

Insider Buying and Selling

In other Whitestone REIT news, Director Julia Bruns Buthman purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were purchased at an average cost of $12.99 per share, with a total value of $64,950.00. Following the purchase, the director now owns 8,093 shares in the company, valued at approximately $105,128.07. This represents a 161.66 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 5.50% of the stock is currently 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.