PVG Asset Management Corp Has $9.16 Million Position in Whitestone REIT (WSR)
PVG Asset Management Corp decreased its holdings in Whitestone REIT (NYSE:WSR) by 28.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 702,073 shares of the real estate investment trust’s stock after selling 276,741 shares during the quarter. Whitestone REIT comprises approximately 4.0% of PVG Asset Management Corp’s portfolio, making the stock its 6th biggest position. PVG Asset Management Corp owned 1.82% of Whitestone REIT worth $9,162,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in WSR. Perigon Wealth Management LLC purchased a new position in Whitestone REIT during the second quarter valued at $101,000. First Trust Advisors LP purchased a new position in Whitestone REIT during the third quarter valued at $131,000. First Allied Advisory Services Inc. purchased a new position in Whitestone REIT during the second quarter valued at $168,000. Advisor Group Inc. increased its holdings in shares of Whitestone REIT by 147.4% during the second quarter. Advisor Group Inc. now owns 14,840 shares of the real estate investment trust’s stock valued at $182,000 after acquiring an additional 8,841 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan bought a new position in shares of Whitestone REIT during the third quarter valued at $189,000. 49.97% of the stock is owned by institutional investors.
Several equities analysts have recently weighed in on WSR shares. Zacks Investment Research downgraded Whitestone REIT from a “hold” rating to a “sell” rating in a report on Friday, August 18th. ValuEngine downgraded Whitestone REIT from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Ladenburg Thalmann Financial Services restated a “hold” rating on shares of Whitestone REIT in a report on Thursday, November 30th. Finally, B. Riley restated a “buy” rating and set a $15.00 price target on shares of Whitestone REIT in a report on Tuesday. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Whitestone REIT presently has an average rating of “Buy” and a consensus price target of $14.75.
Shares of Whitestone REIT (NYSE WSR) traded down $0.04 during trading hours on Tuesday, hitting $14.46. The stock had a trading volume of 231,100 shares, compared to its average volume of 405,759. Whitestone REIT has a 1 year low of $10.80 and a 1 year high of $14.98. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $558.06, a P/E ratio of 11.15 and a beta of 1.02.
Whitestone REIT (NYSE:WSR) last issued its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.07. Whitestone REIT had a return on equity of 2.22% and a net margin of 5.77%. The firm had revenue of $33.70 million during the quarter, compared to the consensus estimate of $32.78 million. During the same period last year, the company earned $0.33 earnings per share. The company’s revenue was up 32.2% on a year-over-year basis. analysts expect that Whitestone REIT will post 1.02 EPS for the current year.
The firm also recently disclosed a monthly dividend, which was paid on Monday, November 13th. Investors of record on Friday, November 3rd were issued a $0.095 dividend. The ex-dividend date was Thursday, November 2nd. This represents a $1.14 annualized dividend and a yield of 7.88%. Whitestone REIT’s payout ratio is 670.59%.
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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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