Whitestone REIT (WSR) Upgraded to Buy at ValuEngine
ValuEngine upgraded shares of Whitestone REIT (NYSE:WSR) from a hold rating to a buy rating in a research note issued to investors on Monday morning.
WSR has been the topic of a number of other research reports. Zacks Investment Research lowered Whitestone REIT from a hold rating to a sell rating in a research report on Friday, August 18th. Ladenburg Thalmann Financial Services restated a hold rating on shares of Whitestone REIT in a research report on Friday, August 18th. BidaskClub upgraded Whitestone REIT from a buy rating to a strong-buy rating in a research report on Monday, July 24th. Maxim Group reaffirmed a buy rating and issued a $20.00 price objective on shares of Whitestone REIT in a research note on Wednesday, June 14th. Finally, FBR & Co reaffirmed an outperform rating and issued a $14.00 price objective on shares of Whitestone REIT in a research note on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Hold and an average target price of $14.25.
Whitestone REIT (NYSE WSR) opened at 13.15 on Monday. The company has a market cap of $506.58 million, a PE ratio of 91.32 and a beta of 0.94. Whitestone REIT has a one year low of $10.80 and a one year high of $14.78. The firm’s 50-day moving average price is $12.87 and its 200-day moving average price is $12.72.
Whitestone REIT (NYSE:WSR) last posted its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.05. The business had revenue of $30.20 million during the quarter, compared to the consensus estimate of $30.68 million. Whitestone REIT had a return on equity of 1.69% and a net margin of 4.36%. Whitestone REIT’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 earnings per share. On average, equities research analysts forecast that Whitestone REIT will post $0.28 earnings per share for the current fiscal year.
The company also recently announced a monthly dividend, which will be paid on Monday, November 13th. Investors of record on Friday, November 3rd will be paid a dividend of $0.095 per share. This represents a $1.14 dividend on an annualized basis and a yield of 8.67%. The ex-dividend date is Thursday, November 2nd. Whitestone REIT’s dividend payout ratio is presently 876.99%.
In other news, Director Paul T. Lambert purchased 3,000 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were acquired at an average price of $12.29 per share, with a total value of $36,870.00. Following the completion of the transaction, the director now owns 51,918 shares of the company’s stock, valued at approximately $638,072.22. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.29% of the company’s stock.
Several hedge funds have recently bought and sold shares of WSR. Perigon Wealth Management LLC acquired a new position in shares of Whitestone REIT in the 2nd quarter valued at about $101,000. California State Teachers Retirement System boosted its position in shares of Whitestone REIT by 18.5% during the 2nd quarter. California State Teachers Retirement System now owns 65,188 shares of the real estate investment trust’s stock valued at $799,000 after purchasing an additional 10,200 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of Whitestone REIT by 10.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 83,262 shares of the real estate investment trust’s stock valued at $1,020,000 after purchasing an additional 7,800 shares in the last quarter. PVG Asset Management Corp boosted its position in shares of Whitestone REIT by 284.4% during the 2nd quarter. PVG Asset Management Corp now owns 978,814 shares of the real estate investment trust’s stock valued at $11,990,000 after purchasing an additional 724,157 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Whitestone REIT by 35.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,922 shares of the real estate investment trust’s stock valued at $390,000 after purchasing an additional 8,294 shares in the last quarter. 43.73% of the stock is owned by hedge funds and other institutional investors.
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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