$0.33 Earnings Per Share Expected for Whitestone REIT (WSR) This Quarter
Analysts forecast that Whitestone REIT (NYSE:WSR) will report $0.33 earnings per share for the current quarter, Zacks reports. Three analysts have made estimates for Whitestone REIT’s earnings. Whitestone REIT reported earnings per share of $0.01 during the same quarter last year, which suggests a positive year-over-year growth rate of 3,200%. The firm is scheduled to report its next quarterly earnings results on Wednesday, March 7th.
On average, analysts expect that Whitestone REIT will report full year earnings of $1.29 per share for the current financial year, with EPS estimates ranging from $1.28 to $1.29. For the next financial year, analysts forecast that the firm will post earnings of $1.32 per share, with EPS estimates ranging from $1.28 to $1.37. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Whitestone REIT.
Whitestone REIT (NYSE:WSR) last announced its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.07. Whitestone REIT had a return on equity of 2.33% and a net margin of 5.77%. The firm had revenue of $33.70 million during the quarter, compared to analyst estimates of $32.78 million. During the same quarter in the previous year, the business earned $0.33 EPS. Whitestone REIT’s revenue for the quarter was up 32.2% compared to the same quarter last year.
WSR has been the subject of a number of recent analyst reports. FBR & Co restated an “outperform” rating and issued a $14.00 price objective on shares of Whitestone REIT in a research report on Tuesday, July 11th. BidaskClub upgraded shares of Whitestone REIT from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Zacks Investment Research downgraded shares of Whitestone REIT from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 26th. ValuEngine upgraded shares of Whitestone REIT from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. Finally, Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of Whitestone REIT in a research report on Friday, August 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Whitestone REIT has a consensus rating of “Buy” and an average price target of $14.67.
In related news, Director Paul T. Lambert purchased 3,000 shares of Whitestone REIT stock in a transaction dated Tuesday, August 29th. The stock was bought at an average cost of $12.29 per share, for a total transaction of $36,870.00. Following the transaction, the director now owns 51,918 shares in the company, valued at $638,072.22. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.29% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. purchased a new position in shares of Whitestone REIT during the 3rd quarter worth approximately $3,791,000. Prudential Financial Inc. purchased a new position in shares of Whitestone REIT during the 3rd quarter worth approximately $826,000. New York State Teachers Retirement System purchased a new position in shares of Whitestone REIT during the 3rd quarter worth approximately $195,000. First Trust Advisors LP purchased a new position in shares of Whitestone REIT during the 3rd quarter worth approximately $131,000. Finally, Perigon Wealth Management LLC purchased a new position in shares of Whitestone REIT during the 2nd quarter worth approximately $101,000. 42.90% of the stock is owned by institutional investors and hedge funds.
The business also recently declared a monthly dividend, which will be paid on Monday, November 13th. Stockholders of record on Friday, November 3rd will be given a dividend of $0.095 per share. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 8.03%. Whitestone REIT’s payout ratio is 670.59%.
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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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