Whitestone REIT (NYSE:WSR) gapped up before the market opened on Tuesday . The stock had previously closed at $13.55, but opened at $13.50. Whitestone REIT shares last traded at $13.59, with a volume of 1,208,145 shares.
A number of brokerages have recently weighed in on WSR. ValuEngine lowered Whitestone REIT from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research lowered Whitestone REIT from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Ladenburg Thalmann Financial Services restated a “hold” rating on shares of Whitestone REIT in a research note on Friday, August 18th. BidaskClub upgraded Whitestone REIT from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. Finally, FBR & Co restated an “outperform” rating and set a $14.00 price target on shares of Whitestone REIT in a research note on Tuesday, July 11th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Whitestone REIT has a consensus rating of “Hold” and an average target price of $14.25.
The stock has a market capitalization of $511.97 million, a PE ratio of 92.29 and a beta of 0.93. The company has a 50 day moving average price of $12.80 and a 200-day moving average price of $12.78.
Whitestone REIT (NYSE:WSR) last released its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. The firm had revenue of $30.20 million for the quarter, compared to the consensus estimate of $30.68 million. Whitestone REIT had a return on equity of 1.69% and a net margin of 4.36%. The firm’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.32 EPS. On average, analysts expect that Whitestone REIT will post $0.28 EPS for the current fiscal year.
The company also recently declared a monthly dividend, which will be paid on Wednesday, September 13th. Investors of record on Tuesday, September 5th will be paid a dividend of $0.095 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $1.14 dividend on an annualized basis and a yield of 8.44%. Whitestone REIT’s dividend payout ratio is presently 876.99%.
In other news, Director Paul T. Lambert purchased 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The shares were purchased at an average price of $12.29 per share, for a total transaction of $36,870.00. Following the purchase, the director now directly owns 51,918 shares of the company’s stock, valued at approximately $638,072.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.29% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in WSR. Teachers Advisors LLC grew its stake in Whitestone REIT by 9.8% during the 4th quarter. Teachers Advisors LLC now owns 45,051 shares of the real estate investment trust’s stock worth $648,000 after buying an additional 4,027 shares during the last quarter. Bank of Montreal Can grew its stake in Whitestone REIT by 21.4% during the 1st quarter. Bank of Montreal Can now owns 14,581 shares of the real estate investment trust’s stock worth $201,000 after buying an additional 2,570 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Whitestone REIT by 4.4% during the 1st quarter. Bank of New York Mellon Corp now owns 271,482 shares of the real estate investment trust’s stock worth $3,757,000 after buying an additional 11,493 shares during the last quarter. Karp Capital Management Corp purchased a new position in Whitestone REIT during the 1st quarter worth approximately $260,000. Finally, Parametric Portfolio Associates LLC grew its stake in Whitestone REIT by 21.3% during the 1st quarter. Parametric Portfolio Associates LLC now owns 49,240 shares of the real estate investment trust’s stock worth $681,000 after buying an additional 8,648 shares during the last quarter. Hedge funds and other institutional investors own 43.77% of the company’s stock.
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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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