Whitestone REIT (NYSE:WSR) Reaches New 12-Month High - What's Next?

Key Points

• Despite hitting a 52-week high of $19.01 on Wednesday (volume 216,083), Whitestone REIT's consensus price target is $17.50 and 9 of 10 analysts rate the stock a "Hold."
• The REIT missed Q results, reporting EPS of $0.08 versus a $0.09 estimate and revenue of $41.39M (slightly below consensus), with a market cap of about $966M and a P/E near 20.
• Whitestone declared a quarterly dividend of $0.1425 (annualized $0.57) with an ex-dividend date of June 17 and a yield of roughly 3.0% and a payout ratio of 60%.

Whitestone REIT (NYSE:WSR - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $19.01 and last traded at $19.0050, with a volume of 216083 shares. The stock had previously closed at $18.95.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on WSR shares. B. Riley Financial cut shares of Whitestone REIT from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 13th. Citizens Jmp cut Whitestone REIT from a "market outperform" rating to a "hold" rating in a research note on Friday, April 10th. Maxim Group reiterated a "hold" rating on shares of Whitestone REIT in a research note on Monday, March 2nd. Colliers Securities set a $19.00 price target on shares of Whitestone REIT in a research report on Friday, April 10th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Whitestone REIT in a research report on Tuesday, April 14th. One research analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $17.50.

Whitestone REIT Stock Performance

The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.98 and a current ratio of 0.98. The stock's fifty day moving average price is $17.00 and its 200-day moving average price is $14.83. The company has a market capitalization of $965.83 million, a P/E ratio of 19.97 and a beta of 0.80.

Whitestone REIT (NYSE:WSR - Get Free Report) last issued its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.01). The firm had revenue of $41.39 million during the quarter, compared to the consensus estimate of $41.89 million. Whitestone REIT had a net margin of 31.04% and a return on equity of 11.23%. As a group, research analysts anticipate that Whitestone REIT will post 1.13 EPS for the current fiscal year.

Whitestone REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Wednesday, June 17th will be paid a $0.1425 dividend. This represents a $0.57 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Wednesday, June 17th. Whitestone REIT's dividend payout ratio is 60.00%.

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.

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