Whitestone REIT (NYSE:WSR)‘s stock had its “buy” rating restated by equities researchers at Maxim Group in a research report issued on Thursday. They presently have a $20.00 price target on the real estate investment trust’s stock. Maxim Group’s price objective would suggest a potential upside of 68.35% from the company’s current price.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research cut Whitestone REIT from a “strong-buy” rating to a “hold” rating in a research note on Saturday, March 11th. Robert W. Baird cut shares of Whitestone REIT from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $15.00 to $10.00 in a research note on Wednesday, May 17th.
Shares of Whitestone REIT (NYSE:WSR) traded up 2.85% during trading on Thursday, reaching $11.90. 341,198 shares of the company’s stock were exchanged. Whitestone REIT has a 52 week low of $10.80 and a 52 week high of $16.30. The stock has a market capitalization of $452.87 million, a price-to-earnings ratio of 95.20 and a beta of 0.92. The stock has a 50 day moving average price of $12.87 and a 200-day moving average price of $13.48.
Whitestone REIT (NYSE:WSR) last posted its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.07. Whitestone REIT had a net margin of 9.33% and a return on equity of 3.83%. The firm had revenue of $28.27 million for the quarter, compared to analyst estimates of $28.03 million. Analysts predict that Whitestone REIT will post $0.29 earnings per share for the current year.
The business also recently declared a monthly dividend, which was paid on Thursday, May 11th. Investors of record on Wednesday, May 3rd were paid a $0.095 dividend. The ex-dividend date of this dividend was Monday, May 1st. This represents a $1.14 dividend on an annualized basis and a yield of 9.60%. Whitestone REIT’s dividend payout ratio is currently 345.47%.
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In related news, Director Paul T. Lambert purchased 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 7th. The shares were purchased at an average price of $13.88 per share, with a total value of $34,700.00. Following the purchase, the director now owns 47,735 shares of the company’s stock, valued at approximately $662,561.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.53% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Schnieders Capital Management LLC boosted its stake in shares of Whitestone REIT by 4.5% in the first quarter. Schnieders Capital Management LLC now owns 10,475 shares of the real estate investment trust’s stock valued at $145,000 after buying an additional 450 shares during the last quarter. AE Wealth Management LLC bought a new position in Whitestone REIT during the first quarter valued at $160,000. Bank of Montreal Can raised its position in Whitestone REIT by 21.4% in the first quarter. Bank of Montreal Can now owns 14,581 shares of the real estate investment trust’s stock valued at $201,000 after buying an additional 2,570 shares during the last quarter. Numeric Investors LLC raised its position in Whitestone REIT by 7.5% in the fourth quarter. Numeric Investors LLC now owns 14,400 shares of the real estate investment trust’s stock valued at $207,000 after buying an additional 1,000 shares during the last quarter. Finally, American International Group Inc. raised its position in Whitestone REIT by 7.3% in the first quarter. American International Group Inc. now owns 16,157 shares of the real estate investment trust’s stock valued at $224,000 after buying an additional 1,105 shares during the last quarter. Institutional investors own 43.27% of the company’s stock.
Whitestone REIT Company Profile
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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