Whitestone Reit (WSR) Stock Price Down 2%
Whitestone Reit (NYSE:WSR) shares fell 2% during trading on Tuesday . The company traded as low as $13.65 and last traded at $13.70, with a volume of 70,112 shares trading hands. The stock had previously closed at $13.98.
A number of analysts recently weighed in on WSR shares. Zacks Investment Research cut shares of Whitestone Reit from a “buy” rating to a “hold” rating in a research note on Saturday, June 18th. Maxim Group upped their target price on shares of Whitestone Reit from $18.50 to $20.00 and gave the company a “buy” rating in a research note on Friday, July 29th. Robert W. Baird cut shares of Whitestone Reit from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $16.00 to $15.00 in a research note on Friday, August 19th. Finally, Hilliard Lyons cut shares of Whitestone Reit from a “buy” rating to a “neutral” rating in a research note on Thursday, July 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $15.63.
The firm has a market cap of $394.80 million, a price-to-earnings ratio of 40.50 and a beta of 0.81. The firm’s 50 day moving average price is $14.72 and its 200-day moving average price is $14.03.
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Whitestone Reit (NYSE:WSR) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by $0.02. Whitestone Reit had a net margin of 10.03% and a return on equity of 4.11%. The firm earned $25.13 million during the quarter, compared to the consensus estimate of $26.04 million. During the same period last year, the business earned $0.35 EPS. The business’s revenue was up 14.4% on a year-over-year basis. Equities analysts expect that Whitestone Reit will post $1.35 EPS for the current year.
In other news, VP Christine J. Mastandrea acquired 2,000 shares of the firm’s stock in a transaction dated Friday, August 19th. The stock was bought at an average price of $14.56 per share, with a total value of $29,120.00. Following the transaction, the vice president now directly owns 79,507 shares in the company, valued at approximately $1,157,621.92. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.53% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Whitestone Reit by 366.1% in the second quarter. BlackRock Inc. now owns 8,319 shares of the company’s stock worth $125,000 after buying an additional 6,534 shares in the last quarter. Hillsdale Investment Management Inc. bought a new stake in Whitestone Reit during the second quarter worth about $127,000. First Trust Advisors LP bought a new stake in Whitestone Reit during the second quarter worth about $164,000. Bank of Montreal Can bought a new stake in Whitestone Reit during the second quarter worth about $166,000. Finally, Lakeview Capital Partners LLC bought a new stake in Whitestone Reit during the second quarter worth about $170,000. Institutional investors own 42.44% of the company’s stock.
About Whitestone Reit
Whitestone REIT is a self-managed, real estate investment trust (REIT) that owns, manages and redevelops a portfolio of neighborhood, community and lifestyle retail centers. The Company’s strategy is to cater to shifting consumer behavior and purchasing patterns by creating an optimal mix of tenants who provide convenience and services and necessities to the community which are not readily available online.
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