Whitestone REIT (NYSE:WSR) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “Whitestone REIT is a fully integrated real estate investment trust that acquires, owns, manages, develops and redevelops high quality internet-resistant neighborhood, community and lifestyle retail centers. Whitestone’s properties are principally located in Austin, Dallas-Fort Worth, Houston, San Antonio and Phoenix, which are among the fastest-growing markets in the country with highly educated workforces, high household incomes and strong job growth. The Company’s strategy is to target shifting consumer behavior and purchasing patterns by creating a complementary mix of grocery, dining, health and wellness, education, services, entertainment and specialty retail in its properties. Whitestone’s national, regional and local tenants provide daily necessities, needed services and convenience to the community which are not readily available online. Whitestone is headquartered in Houston, Texas. “

Several other brokerages have also recently weighed in on WSR. Robert W. Baird cut shares of Whitestone REIT from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $15.00 to $10.00 in a research report on Wednesday, May 17th. ValuEngine cut shares of Whitestone REIT from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub raised shares of Whitestone REIT from a “buy” rating to a “strong-buy” rating in a research report on Monday. Maxim Group reaffirmed a “buy” rating and issued a $20.00 price target on shares of Whitestone REIT in a research report on Wednesday, June 14th. Finally, Ladenburg Thalmann Financial Services reaffirmed a “hold” rating on shares of Whitestone REIT in a research report on Monday, May 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $14.25.

Whitestone REIT (NYSE:WSR) traded up 1.00% during trading on Wednesday, hitting $13.07. 379,408 shares of the stock traded hands. The firm has a market cap of $497.39 million, a PE ratio of 104.56 and a beta of 0.91. The firm has a 50-day moving average price of $12.34 and a 200 day moving average price of $13.05. Whitestone REIT has a 12 month low of $10.80 and a 12 month high of $16.30.

Whitestone REIT (NYSE:WSR) last issued its earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.07. The business had revenue of $28.27 million for the quarter, compared to the consensus estimate of $28.03 million. Whitestone REIT had a net margin of 4.11% and a return on equity of 1.69%. On average, equities analysts forecast that Whitestone REIT will post $0.27 EPS for the current fiscal year.

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Large investors have recently made changes to their positions in the company. HL Financial Services LLC boosted its stake in shares of Whitestone REIT by 3.4% in the first quarter. HL Financial Services LLC now owns 28,692 shares of the real estate investment trust’s stock valued at $397,000 after buying an additional 935 shares during the last quarter. 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. Parametric Portfolio Associates LLC boosted its stake in shares of Whitestone REIT by 21.3% in the first quarter. Parametric Portfolio Associates LLC now owns 49,240 shares of the real estate investment trust’s stock valued at $681,000 after buying an additional 8,648 shares during the last quarter. Karp Capital Management Corp acquired a new stake in shares of Whitestone REIT during the first quarter valued at $260,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Whitestone REIT by 4.4% in the first quarter. Bank of New York Mellon Corp now owns 271,482 shares of the real estate investment trust’s stock valued at $3,757,000 after buying an additional 11,493 shares during the last quarter. 35.40% of the stock is owned by hedge funds and other institutional investors.

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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