Whitestone REIT (NYSE: WSR) has received a consensus rating of “Buy” from five research firms currently covering the firm, according to Marketbeat. This endorsement comes as analysts express confidence in the company’s performance, with an average target price of $16.00 over the next twelve months.
Several investment analysts have weighed in on Whitestone REIT. Citigroup reaffirmed its “market outperform” rating on January 6, while Truist Financial raised its price target from $14.00 to $15.00 and maintained a “buy” rating in a report on November 18. Additionally, LADENBURG THALM/SH SH initiated coverage on the company, assigning a “buy” rating alongside a target price of $17.00. Weiss Ratings also reaffirmed a “buy (b-)” rating on December 29.
Recent Financial Performance
Whitestone REIT reported quarterly earnings on October 29, meeting expectations with $0.26 earnings per share, in line with analyst estimates. The real estate investment trust (REIT) achieved a net margin of 28.16% and a return on equity of 10.10%. Revenue for the quarter reached $41.05 million, surpassing the estimated $39.21 million. For fiscal year 2025, the company has set guidance for earnings per share between $1.030 and $1.070. Analysts predict that Whitestone REIT will post an earnings per share of $0.99 for the current year.
On December 19, the Board of Directors announced a share repurchase program allowing the company to buy back $50.00 million in outstanding shares. This program enables the REIT to repurchase up to 7.2% of its stock through open market transactions, signaling that leadership views its shares as undervalued.
Dividend Announcement
Whitestone REIT also disclosed a quarterly dividend of $0.1425 per share, set to be paid on March 30, 2024. Stockholders of record as of March 16 will be entitled to this payment, which translates to an annualized dividend of $0.57 and a yield of 4.1%. The ex-dividend date is also March 16, and the company’s current dividend payout ratio stands at 63.53%.
About Whitestone REIT
Based in San Antonio, Texas, Whitestone REIT specializes in the acquisition, development, and management of retail and mixed-use properties. The company’s portfolio primarily focuses on high-growth Texas markets, including the Dallas-Fort Worth metropolitan area, Houston, Austin, and San Antonio. Whitestone REIT predominantly owns open-air neighborhood and community shopping centers, emphasizing convenience and necessity-based retail. Its partnerships with grocers, fitness operators, and other essential service providers aim to ensure consistent foot traffic and stable occupancy rates.
In addition to property ownership, Whitestone REIT offers asset and property management services, leasing expertise, and development capabilities, positioning itself as a comprehensive player in the real estate market.
