Whitestone REIT (NYSE:WSR) has been given a consensus rating of “Hold” by the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $12.67.
Several equities research analysts recently issued reports on WSR shares. B. Riley reissued a “buy” rating and issued a $15.00 target price on shares of Whitestone REIT in a report on Tuesday, December 12th. Maxim Group dropped their price target on Whitestone REIT from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, March 5th. ValuEngine downgraded Whitestone REIT from a “buy” rating to a “hold” rating in a research note on Friday, March 2nd. Zacks Investment Research upgraded Whitestone REIT from a “sell” rating to a “hold” rating in a research report on Thursday, February 15th. Finally, SunTrust Banks set a $13.00 target price on Whitestone REIT and gave the company a “hold” rating in a research report on Monday, January 22nd.
In other Whitestone REIT news, VP Christine J. Mastandrea bought 2,500 shares of Whitestone REIT stock in a transaction on Monday, March 5th. The shares were acquired at an average price of $10.65 per share, for a total transaction of $26,625.00. Following the completion of the purchase, the vice president now directly owns 112,013 shares in the company, valued at approximately $1,192,938.45. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 5.29% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in shares of Whitestone REIT by 42.7% during the fourth quarter. BlackRock Inc. now owns 5,291,789 shares of the real estate investment trust’s stock valued at $76,255,000 after buying an additional 1,584,004 shares during the period. Principal Financial Group Inc. acquired a new stake in Whitestone REIT in the third quarter worth about $3,791,000. LDR Capital Management LLC acquired a new stake in Whitestone REIT in the fourth quarter worth about $3,843,000. Bank of New York Mellon Corp boosted its holdings in Whitestone REIT by 75.9% in the third quarter. Bank of New York Mellon Corp now owns 574,802 shares of the real estate investment trust’s stock worth $7,500,000 after acquiring an additional 247,970 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Whitestone REIT by 975.0% during the third quarter. Ameriprise Financial Inc. now owns 199,946 shares of the real estate investment trust’s stock worth $2,610,000 after purchasing an additional 181,347 shares during the period. Institutional investors and hedge funds own 54.41% of the company’s stock.
Shares of NYSE WSR traded up $0.12 during midday trading on Friday, hitting $10.39. 97,411 shares of the company’s stock traded hands, compared to its average volume of 363,879. The firm has a market capitalization of $397.71, a P/E ratio of 8.05 and a beta of 1.03. Whitestone REIT has a 1 year low of $10.06 and a 1 year high of $15.15. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.84.
Whitestone REIT (NYSE:WSR) last released its earnings results on Thursday, March 1st. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.22). The firm had revenue of $33.83 million during the quarter, compared to analysts’ expectations of $33.59 million. Whitestone REIT had a return on equity of 2.49% and a net margin of 6.62%. equities research analysts anticipate that Whitestone REIT will post 1.02 EPS for the current year.
The firm also recently announced a monthly dividend, which will be paid on Wednesday, June 13th. Shareholders of record on Monday, June 4th will be paid a $0.095 dividend. The ex-dividend date of this dividend is Friday, June 1st. This represents a $1.14 dividend on an annualized basis and a yield of 10.97%. Whitestone REIT’s payout ratio is 91.20%.
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About Whitestone REIT
Whitestone is a community-centered retail REIT that acquires, owns, manages, develops and redevelops high quality ?E-commerce resistant? neighborhood, community and lifestyle retail centers principally located in the largest, fastest-growing and most affluent markets in the Sunbelt. Whitestone's mix of national, regional and local tenants provides daily necessities, needed services and entertainment not typically readily available online to their respective communities.
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