Zacks Investment Research upgraded shares of Whitestone REIT (NYSE:WSR) from a sell rating to a hold rating in a research note released on Thursday.
According to Zacks, “Whitestone REIT is a fully integrated real estate investment trust that acquires, owns, manages, develops and redevelops high quality internet-resistant neighborhood, community and lifestyle retail centers. Whitestone’s properties are principally located in Austin, Dallas-Fort Worth, Houston, San Antonio and Phoenix, which are among the fastest-growing markets in the country with highly educated workforces, high household incomes and strong job growth. The Company’s strategy is to target shifting consumer behavior and purchasing patterns by creating a complementary mix of grocery, dining, health and wellness, education, services, entertainment and specialty retail in its properties. Whitestone’s national, regional and local tenants provide daily necessities, needed services and convenience to the community which are not readily available online. Whitestone is headquartered in Houston, Texas. “
Other equities analysts have also recently issued research reports about the stock. ValuEngine upgraded shares of Whitestone REIT from a hold rating to a buy rating in a research note on Thursday, August 3rd. Maxim Group restated a buy rating and set a $20.00 target price on shares of Whitestone REIT in a research note on Wednesday, June 14th. Ladenburg Thalmann Financial Services restated a hold rating on shares of Whitestone REIT in a research note on Friday, August 18th. FBR & Co restated an outperform rating and set a $14.00 target price on shares of Whitestone REIT in a research note on Tuesday, July 11th. Finally, BidaskClub upgraded shares of Whitestone REIT from a buy rating to a strong-buy rating in a research note on Monday, July 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $14.67.
Whitestone REIT (WSR) traded up 0.29% on Thursday, hitting $13.64. 274,543 shares of the company were exchanged. The company has a 50 day moving average price of $12.98 and a 200-day moving average price of $12.72. Whitestone REIT has a 52 week low of $10.80 and a 52 week high of $14.78. The stock has a market capitalization of $525.45 million, a P/E ratio of 94.72 and a beta of 0.94.
Whitestone REIT (NYSE:WSR) last posted its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.05. The business had revenue of $30.20 million for the quarter, compared to analysts’ expectations of $30.68 million. Whitestone REIT had a net margin of 4.36% and a return on equity of 1.69%. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 EPS. On average, equities analysts expect that Whitestone REIT will post $0.28 earnings per share for the current fiscal year.
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The business also recently announced a monthly dividend, which will be paid on Monday, November 13th. Shareholders of record on Friday, November 3rd will be paid a dividend of $0.095 per share. This represents a $1.14 annualized dividend and a yield of 8.36%. The ex-dividend date is Thursday, November 2nd. Whitestone REIT’s dividend payout ratio is currently 876.99%.
In related news, Director Paul T. Lambert bought 3,000 shares of the stock in a transaction on Tuesday, August 29th. The shares were acquired at an average price of $12.29 per share, for a total transaction of $36,870.00. Following the purchase, the director now owns 51,918 shares of the company’s stock, valued at $638,072.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 5.29% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of WSR. PVG Asset Management Corp lifted its stake in shares of Whitestone REIT by 284.4% in the 2nd quarter. PVG Asset Management Corp now owns 978,814 shares of the real estate investment trust’s stock worth $11,990,000 after purchasing an additional 724,157 shares during the period. Chilton Capital Management LLC bought a new position in shares of Whitestone REIT in the 2nd quarter worth approximately $6,727,000. Northpointe Capital LLC bought a new position in shares of Whitestone REIT in the 2nd quarter worth approximately $3,906,000. Vanguard Group Inc. lifted its stake in shares of Whitestone REIT by 8.0% in the 2nd quarter. Vanguard Group Inc. now owns 3,641,643 shares of the real estate investment trust’s stock worth $44,610,000 after purchasing an additional 269,793 shares during the period. Finally, Garner Asset Management Corp bought a new position in shares of Whitestone REIT in the 2nd quarter worth approximately $1,908,000. Hedge funds and other institutional investors own 43.73% of the company’s stock.
Whitestone REIT Company Profile
Whitestone REIT is a real estate investment trust. The Company is engaged in owning and operating commercial properties in culturally diverse markets in various metropolitan areas. The Company’s acquisition targets are located in densely populated, culturally diverse neighborhoods, primarily in and around Austin, Chicago, Dallas-Fort Worth, Houston, Phoenix and San Antonio.
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