Whitestone REIT (NYSE:WSR) was the target of a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 4,939,668 shares, an increase of 47.4% from the August 31st total of 3,350,114 shares. Based on an average daily trading volume, of 1,275,583 shares, the short-interest ratio is currently 3.9 days. Currently, 14.7% of the shares of the company are short sold.
Shares of Whitestone REIT (NYSE:WSR) opened at 13.18 on Friday. The firm’s 50-day moving average is $12.91 and its 200-day moving average is $12.72. The stock has a market capitalization of $507.73 million, a PE ratio of 91.53 and a beta of 0.94. Whitestone REIT has a one year low of $10.80 and a one year high of $14.78.
Whitestone REIT (NYSE:WSR) last posted its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. Whitestone REIT had a net margin of 4.36% and a return on equity of 1.69%. The company had revenue of $30.20 million during the quarter, compared to analyst estimates of $30.68 million. During the same period last year, the firm posted $0.32 EPS. Whitestone REIT’s revenue for the quarter was up 20.2% compared to the same quarter last year. On average, analysts expect 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. Stockholders of record on Friday, November 3rd will be issued a dividend of $0.095 per share. This represents a $1.14 annualized dividend and a dividend yield of 8.65%. The ex-dividend date is Thursday, November 2nd. Whitestone REIT’s dividend payout ratio (DPR) is 876.99%.
In other Whitestone REIT news, Director Paul T. Lambert bought 3,000 shares of Whitestone REIT stock in a transaction on Tuesday, August 29th. The stock was acquired 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 in the company, valued at $638,072.22. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.29% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of the company. Schnieders Capital Management LLC increased its holdings in shares of Whitestone REIT by 7.6% during the 2nd quarter. Schnieders Capital Management LLC now owns 11,275 shares of the real estate investment trust’s stock valued at $138,000 after purchasing an additional 800 shares in the last quarter. HL Financial Services LLC increased its holdings in shares of Whitestone REIT by 3.4% during the 2nd quarter. HL Financial Services LLC now owns 29,679 shares of the real estate investment trust’s stock valued at $364,000 after purchasing an additional 987 shares in the last quarter. Capital Investment Advisors LLC increased its holdings in shares of Whitestone REIT by 8.8% during the 2nd quarter. Capital Investment Advisors LLC now owns 12,300 shares of the real estate investment trust’s stock valued at $151,000 after purchasing an additional 1,000 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Whitestone REIT by 1.6% during the 1st quarter. Asset Management One Co. Ltd. now owns 65,760 shares of the real estate investment trust’s stock valued at $900,000 after purchasing an additional 1,054 shares in the last quarter. Finally, American International Group Inc. increased its holdings in shares of Whitestone REIT by 7.3% during the 1st quarter. American International Group Inc. now owns 16,157 shares of the real estate investment trust’s stock valued at $224,000 after purchasing an additional 1,105 shares in the last quarter. 43.73% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have commented on WSR. ValuEngine raised shares of Whitestone REIT from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Zacks Investment Research cut shares of Whitestone REIT from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 26th. BidaskClub raised shares of Whitestone REIT from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. Ladenburg Thalmann Financial Services reaffirmed a “hold” rating on shares of Whitestone REIT in a report on Friday, August 18th. Finally, Maxim Group reaffirmed a “buy” rating and set a $20.00 target price on shares of Whitestone REIT in a report on Wednesday, June 14th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $14.67.
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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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