Whitestone REIT (NYSE:WSR) Sees Large Increase in Short Interest

Whitestone REIT (NYSE:WSR) was the target of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 389,600 shares, a growth of 29.1% from the February 28th total of 301,700 shares. Based on an average trading volume of 229,700 shares, the days-to-cover ratio is presently 1.7 days. Approximately 0.8% of the shares of the company are short sold.

Whitestone REIT Price Performance

Shares of NYSE:WSR traded up $0.02 during midday trading on Wednesday, reaching $14.64. 221,596 shares of the company’s stock were exchanged, compared to its average volume of 281,623. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.17 and a current ratio of 2.17. The company’s 50 day simple moving average is $13.82 and its two-hundred day simple moving average is $13.97. Whitestone REIT has a 12 month low of $10.77 and a 12 month high of $15.36. The firm has a market capitalization of $745.10 million, a PE ratio of 35.71, a price-to-earnings-growth ratio of 2.13 and a beta of 1.29.

Whitestone REIT Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, June 2nd will be paid a $0.045 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.54 annualized dividend and a dividend yield of 3.69%. Whitestone REIT’s dividend payout ratio is currently 76.06%.

Analysts Set New Price Targets

A number of analysts have weighed in on WSR shares. StockNews.com initiated coverage on shares of Whitestone REIT in a report on Friday, March 28th. They issued a “hold” rating for the company. Truist Financial lifted their target price on Whitestone REIT from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, March 18th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $16.00 price target on shares of Whitestone REIT in a report on Tuesday, December 10th.

Whitestone REIT Company Profile

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.