Whitestone REIT (WSR) Price Target Increased to $14.00 by Analysts at JMP Securities

Whitestone REIT (NYSE:WSR) had its target price hoisted by JMP Securities from $13.50 to $14.00 in a research note released on Wednesday morning. The firm currently has a buy rating on the real estate investment trust’s stock.

WSR has been the topic of a number of other reports. Zacks Investment Research upgraded Whitestone REIT from a sell rating to a strong-buy rating and set a $15.00 target price on the stock in a report on Thursday, August 9th. ValuEngine upgraded Whitestone REIT from a sell rating to a hold rating in a report on Wednesday, August 15th. Finally, Boenning Scattergood began coverage on Whitestone REIT in a report on Thursday, July 12th. They issued a buy rating and a $13.50 target price on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $13.58.

Shares of Whitestone REIT stock traded up $0.10 on Wednesday, reaching $13.71. 20,678 shares of the company’s stock were exchanged, compared to its average volume of 206,686. Whitestone REIT has a 52 week low of $10.06 and a 52 week high of $15.15. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market capitalization of $539.73 million, a price-to-earnings ratio of 10.97 and a beta of 1.00.

Whitestone REIT (NYSE:WSR) last issued its earnings results on Wednesday, August 1st. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). Whitestone REIT had a return on equity of 2.73% and a net margin of 7.19%. The firm had revenue of $33.07 million during the quarter, compared to the consensus estimate of $33.21 million. equities research analysts forecast that Whitestone REIT will post 1.04 EPS for the current year.

The business also recently declared a monthly dividend, which will be paid on Thursday, December 13th. Investors of record on Tuesday, December 4th will be given a $0.095 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 8.32%. The ex-dividend date is Monday, December 3rd. Whitestone REIT’s payout ratio is currently 91.20%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Piedmont Investment Advisors LLC purchased a new stake in Whitestone REIT in the 2nd quarter valued at $115,000. Clear Harbor Asset Management LLC purchased a new stake in Whitestone REIT in the 2nd quarter valued at $149,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Whitestone REIT in the 2nd quarter valued at $176,000. Independent Advisor Alliance purchased a new stake in Whitestone REIT in the 2nd quarter valued at $185,000. Finally, State Board of Administration of Florida Retirement System purchased a new stake in Whitestone REIT in the 2nd quarter valued at $207,000. 50.15% of the stock is owned by institutional investors and hedge funds.

About Whitestone REIT

Whitestone is a community-centered retail REIT that acquires, owns, manages, develops and redevelops high quality "e-commerce resistant" neighborhood, community and lifestyle retail centers principally located in the largest, fastest-growing and most affluent markets in the Sunbelt. Whitestone's optimal mix of national, regional and local tenants provide daily necessities, needed services and entertainment to the communities in which they are located.

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Analyst Recommendations for Whitestone REIT (NYSE:WSR)

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