PVG Asset Management Corp reduced its stake in shares of Whitestone REIT (NYSE:WSR) by 60.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 277,601 shares of the real estate investment trust’s stock after selling 424,472 shares during the quarter. Whitestone REIT accounts for approximately 1.8% of PVG Asset Management Corp’s holdings, making the stock its 20th biggest position. PVG Asset Management Corp’s holdings in Whitestone REIT were worth $4,000,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in WSR. BlackRock Inc. raised its stake in Whitestone REIT by 42.7% during the 4th quarter. BlackRock Inc. now owns 5,291,789 shares of the real estate investment trust’s stock valued at $76,255,000 after purchasing an additional 1,584,004 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of Whitestone REIT in the 3rd quarter valued at $3,791,000. LDR Capital Management LLC acquired a new position in shares of Whitestone REIT in the 4th quarter valued at $3,843,000. Bank of New York Mellon Corp raised its stake in shares of Whitestone REIT by 75.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 574,802 shares of the real estate investment trust’s stock valued at $7,500,000 after buying an additional 247,970 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Whitestone REIT by 975.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 199,946 shares of the real estate investment trust’s stock valued at $2,610,000 after buying an additional 181,347 shares in the last quarter. Hedge funds and other institutional investors own 54.41% of the company’s stock.
Whitestone REIT stock traded down $0.09 on Monday, hitting $10.65. 12,202 shares of the stock traded hands, compared to its average volume of 359,071. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.84. Whitestone REIT has a fifty-two week low of $10.45 and a fifty-two week high of $15.15. The company has a market cap of $421.24, a price-to-earnings ratio of 51.14 and a beta of 0.94.
Whitestone REIT (NYSE:WSR) last posted its earnings results on Thursday, March 1st. The real estate investment trust reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.22). Whitestone REIT had a return on equity of 2.49% and a net margin of 6.62%. The firm had revenue of $33.83 million during the quarter, compared to the consensus estimate of $33.59 million. sell-side analysts predict that Whitestone REIT will post 1.02 EPS for the current fiscal year.
The company also recently announced a monthly dividend, which will be paid on Wednesday, June 13th. Stockholders of record on Monday, June 4th will be issued a $0.095 dividend. This represents a $1.14 annualized dividend and a dividend yield of 10.70%. The ex-dividend date of this dividend is Friday, June 1st. Whitestone REIT’s payout ratio is 542.86%.
In other news, VP Christine J. Mastandrea bought 2,500 shares of the stock in a transaction dated Monday, March 5th. The shares were acquired at an average price of $10.65 per share, with a total value of $26,625.00. Following the acquisition, the vice president now owns 112,013 shares in the company, valued at $1,192,938.45. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.29% of the stock is currently owned by corporate insiders.
A number of equities analysts have recently issued reports on WSR shares. SunTrust Banks cut shares of Whitestone REIT from a “hold” rating to a “sell” rating and set a $10.00 price objective for the company. in a research note on Friday, March 2nd. Ladenburg Thalmann Financial Services restated a “hold” rating on shares of Whitestone REIT in a research note on Thursday, November 30th. Zacks Investment Research upgraded shares of Whitestone REIT from a “sell” rating to a “hold” rating in a research note on Thursday, February 15th. ValuEngine cut shares of Whitestone REIT from a “buy” rating to a “hold” rating in a research note on Friday, March 2nd. Finally, Maxim Group dropped their price objective on shares of Whitestone REIT from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, March 5th. Three analysts have rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $12.60.
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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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