Zacks Investment Research cut shares of Whitestone REIT (NYSE:WSR) from a buy rating to a hold rating in a report released on Saturday, Zacks.com reports.
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. “
Separately, Maxim Group reaffirmed a buy rating and issued a $16.00 price objective on shares of Whitestone REIT in a research report on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Whitestone REIT currently has an average rating of Buy and an average target price of $14.25.
WSR stock traded down $0.36 during midday trading on Friday, hitting $12.46. The company’s stock had a trading volume of 448,120 shares, compared to its average volume of 195,645. The stock has a market capitalization of $510.62 million, a P/E ratio of 10.74 and a beta of 1.02. Whitestone REIT has a 12 month low of $11.50 and a 12 month high of $14.65. The company has a debt-to-equity ratio of 1.84, a quick ratio of 2.02 and a current ratio of 1.75. The business has a 50-day simple moving average of $12.74.
Whitestone REIT (NYSE:WSR) last released its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.17). The business had revenue of $29.58 million during the quarter, compared to the consensus estimate of $30.16 million. Whitestone REIT had a net margin of 17.94% and a return on equity of 6.19%. On average, equities analysts predict that Whitestone REIT will post 1.08 earnings per share for the current year.
The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, August 13th. Investors of record on Friday, August 2nd will be given a $0.095 dividend. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $1.14 annualized dividend and a yield of 9.15%. Whitestone REIT’s dividend payout ratio (DPR) is presently 98.28%.
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 optimal mix of national, regional and local tenants provides daily necessities, needed services and entertainment to the communities in which they are located.
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