Zacks: Analysts Anticipate Whitestone REIT (NYSE:WSR) Will Post Quarterly Sales of $29.99 Million

Analysts expect Whitestone REIT (NYSE:WSR) to post sales of $29.99 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Whitestone REIT’s earnings, with the highest sales estimate coming in at $30.10 million and the lowest estimate coming in at $29.87 million. Whitestone REIT posted sales of $34.60 million during the same quarter last year, which suggests a negative year over year growth rate of 13.3%. The company is expected to announce its next earnings results after the market closes on Wednesday, October 30th.

On average, analysts expect that Whitestone REIT will report full-year sales of $120.16 million for the current year, with estimates ranging from $119.31 million to $121.00 million. For the next fiscal year, analysts expect that the firm will post sales of $124.94 million, with estimates ranging from $123.68 million to $126.20 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Whitestone REIT.

Whitestone REIT (NYSE:WSR) last posted its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.17). The company had revenue of $29.58 million during the quarter, compared to analyst estimates of $30.16 million. Whitestone REIT had a return on equity of 6.19% and a net margin of 17.94%.

Several research firms have recently weighed in on WSR. Zacks Investment Research raised Whitestone REIT from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Saturday, October 12th. Maxim Group set a $15.00 price objective on Whitestone REIT and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, B. Riley set a $13.00 price objective on Whitestone REIT and gave the company a “hold” rating in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $14.33.

Shares of WSR traded up $0.04 during trading hours on Friday, reaching $13.95. The company’s stock had a trading volume of 1,859 shares, compared to its average volume of 184,642. The firm has a market cap of $554.03 million, a price-to-earnings ratio of 12.04 and a beta of 1.02. Whitestone REIT has a 1-year low of $11.50 and a 1-year high of $14.65. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.84. The company has a 50 day moving average of $13.41 and a two-hundred day moving average of $12.79.

The firm also recently announced a — dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $0.095 per share. The ex-dividend date is Monday, December 2nd. This represents a dividend yield of 8.4%. Whitestone REIT’s dividend payout ratio is currently 98.28%.

In related news, CEO James C. Mastandrea acquired 10,000 shares of the company’s stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $12.64 per share, with a total value of $126,400.00. Following the acquisition, the chief executive officer now directly owns 1,027,250 shares of the company’s stock, valued at $12,984,440. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 5.60% of the company’s stock.

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 provides daily necessities, needed services and entertainment to the communities in which they are located.

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