Insider Buying: Whitestone REIT (WSR) Director Buys $36,870.00 in Stock
Whitestone REIT (NYSE:WSR) Director Paul T. Lambert purchased 3,000 shares of the business’s stock in a transaction dated Tuesday, August 29th. The stock was bought at an average cost of $12.29 per share, with a total value of $36,870.00. Following the completion of the acquisition, the director now owns 51,918 shares of the company’s stock, valued at $638,072.22. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.
Whitestone REIT (NYSE:WSR) traded up 1.44% during trading on Friday, reaching $12.72. The company had a trading volume of 44,921 shares. The stock has a market cap of $490.01 million, a PE ratio of 88.33 and a beta of 0.92. Whitestone REIT has a 52-week low of $10.80 and a 52-week high of $14.89. The company has a 50-day moving average price of $12.78 and a 200 day moving average price of $12.86.
Whitestone REIT (NYSE:WSR) last released its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.05. The business had revenue of $30.20 million during the quarter, compared to analyst estimates of $30.68 million. Whitestone REIT had a return on equity of 1.69% and a net margin of 4.36%. The company’s revenue was up 20.2% compared to the same quarter last year. During the same period last year, the company posted $0.32 EPS. On average, analysts anticipate that Whitestone REIT will post $0.28 earnings per share for the current year.
The firm also recently announced a monthly dividend, which was paid on Friday, August 11th. Stockholders of record on Thursday, August 3rd were issued a $0.095 dividend. The ex-dividend date was Tuesday, August 1st. This represents a $1.14 dividend on an annualized basis and a dividend yield of 9.09%. Whitestone REIT’s payout ratio is currently 876.99%.
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WSR has been the subject of a number of analyst reports. Zacks Investment Research cut Whitestone REIT from a “hold” rating to a “sell” rating in a report on Saturday, May 6th. Robert W. Baird cut Whitestone REIT from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $15.00 to $10.00 in a report on Wednesday, May 17th. FBR & Co reissued an “outperform” rating and issued a $14.00 price target on shares of Whitestone REIT in a report on Tuesday, July 11th. Maxim Group reiterated a “buy” rating and issued a $20.00 target price on shares of Whitestone REIT in a research note on Wednesday, June 14th. Finally, ValuEngine lowered Whitestone REIT from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Whitestone REIT currently has an average rating of “Hold” and an average target price of $14.25.
Several hedge funds have recently added to or reduced their stakes in WSR. Asset Management One Co. Ltd. raised its stake in Whitestone REIT by 1.6% in the first quarter. Asset Management One Co. Ltd. now owns 65,760 shares of the real estate investment trust’s stock worth $900,000 after buying an additional 1,054 shares during the last quarter. Vanguard Group Inc. raised its stake in Whitestone REIT by 2.9% in the first quarter. Vanguard Group Inc. now owns 3,371,850 shares of the real estate investment trust’s stock worth $46,666,000 after buying an additional 93,822 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in Whitestone REIT by 2.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 216,182 shares of the real estate investment trust’s stock worth $2,992,000 after buying an additional 4,959 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Whitestone REIT by 3.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 75,462 shares of the real estate investment trust’s stock worth $1,044,000 after buying an additional 2,225 shares during the last quarter. Finally, Clear Harbor Asset Management LLC acquired a new stake in Whitestone REIT during the second quarter worth about $506,000. Institutional investors own 43.77% 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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