Whitestone REIT (NYSE:WSR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.
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 analysts have also weighed in on the stock. Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of Whitestone REIT in a research note on Thursday, November 30th. B. Riley reiterated a “buy” rating and issued a $15.00 price objective on shares of Whitestone REIT in a research note on Tuesday, December 12th. Finally, ValuEngine upgraded shares of Whitestone REIT from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $14.75.
Shares of Whitestone REIT (WSR) traded down $0.14 during trading on Friday, reaching $13.64. 224,030 shares of the company’s stock were exchanged, compared to its average volume of 319,216. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.82 and a quick ratio of 0.82. Whitestone REIT has a twelve month low of $10.80 and a twelve month high of $15.15. The firm has a market cap of $530.35, a price-to-earnings ratio of 80.24 and a beta of 1.02.
Whitestone REIT (NYSE:WSR) last released its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.07. The firm had revenue of $33.70 million for the quarter, compared to analyst estimates of $32.78 million. Whitestone REIT had a net margin of 5.77% and a return on equity of 2.22%. The business’s quarterly revenue was up 32.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.33 earnings per share. equities research analysts anticipate that Whitestone REIT will post 1.02 EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new stake in shares of Whitestone REIT in the third quarter worth $225,000. Cubist Systematic Strategies LLC acquired a new stake in Whitestone REIT during the third quarter valued at $606,000. Boothbay Fund Management LLC acquired a new stake in Whitestone REIT during the third quarter valued at $210,000. Mackenzie Financial Corp grew its position in Whitestone REIT by 50.0% during the third quarter. Mackenzie Financial Corp now owns 15,002 shares of the real estate investment trust’s stock valued at $196,000 after buying an additional 5,002 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Whitestone REIT by 13.9% during the third quarter. Dimensional Fund Advisors LP now owns 515,434 shares of the real estate investment trust’s stock valued at $6,726,000 after buying an additional 62,884 shares during the period. Hedge funds and other institutional investors own 49.84% 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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