Whitestone REIT (WSR) Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Whitestone REIT (NYSE:WSR) from a hold rating to a sell rating in a report issued on Wednesday.

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. “

A number of other research analysts have also issued reports on the stock. ValuEngine upgraded shares of Whitestone REIT from a hold rating to a buy rating in a research note on Monday, October 2nd. Ladenburg Thalmann Financial Services reiterated a hold rating on shares of Whitestone REIT in a research note on Friday, August 18th. Finally, BidaskClub upgraded shares of Whitestone REIT from a buy rating to a strong-buy rating in a research note on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Whitestone REIT presently has a consensus rating of Hold and a consensus price target of $14.67.

Whitestone REIT (NYSE WSR) traded up $0.08 during trading hours on Wednesday, reaching $14.56. 332,800 shares of the company were exchanged, compared to its average volume of 409,384. Whitestone REIT has a 1-year low of $10.80 and a 1-year high of $14.78. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.87. The firm has a market cap of $557.29, a price-to-earnings ratio of 11.14 and a beta of 0.98.

Whitestone REIT (NYSE:WSR) last posted its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. Whitestone REIT had a net margin of 5.77% and a return on equity of 2.22%. The business had revenue of $33.70 million for the quarter, compared to analyst estimates of $32.78 million. During the same period last year, the business posted $0.33 EPS. Whitestone REIT’s revenue was up 32.2% compared to the same quarter last year. equities analysts anticipate that Whitestone REIT will post 1.02 EPS for the current fiscal year.

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The business also recently declared a monthly dividend, which was paid on Monday, November 13th. Shareholders of record on Friday, November 3rd were given a $0.095 dividend. The ex-dividend date was Thursday, November 2nd. This represents a $1.14 annualized dividend and a yield of 7.83%. Whitestone REIT’s dividend payout ratio is 670.59%.

In related news, Director Paul T. Lambert purchased 3,000 shares of the firm’s stock in a transaction on Tuesday, August 29th. The shares were bought at an average cost of $12.29 per share, for a total transaction of $36,870.00. Following the transaction, 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 SEC, which is accessible through this hyperlink. Company insiders own 5.29% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Perigon Wealth Management LLC acquired a new stake in Whitestone REIT in the 2nd quarter worth $101,000. First Trust Advisors LP bought a new position in shares of Whitestone REIT during the 3rd quarter worth about $131,000. Schnieders Capital Management LLC lifted its holdings in shares of Whitestone REIT by 7.6% during the 2nd quarter. Schnieders Capital Management LLC now owns 11,275 shares of the real estate investment trust’s stock worth $138,000 after acquiring an additional 800 shares during the period. First Allied Advisory Services Inc. bought a new position in shares of Whitestone REIT during the 2nd quarter worth about $168,000. Finally, Advisor Group Inc. lifted its holdings in shares of Whitestone REIT by 147.4% during the 2nd quarter. Advisor Group Inc. now owns 14,840 shares of the real estate investment trust’s stock worth $182,000 after acquiring an additional 8,841 shares during the period. Institutional investors own 44.89% of the company’s stock.

About Whitestone REIT

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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