Whitestone REIT (NYSE:WSR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” 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. “
A number of other equities research analysts have also issued reports on the company. Maxim Group decreased their price target on Whitestone REIT from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, March 5th. B. Riley set a $13.00 price target on Whitestone REIT and gave the stock a “buy” rating in a research note on Monday, March 5th. ValuEngine lowered Whitestone REIT from a “buy” rating to a “hold” rating in a research note on Friday, March 2nd. SunTrust Banks lowered Whitestone REIT from a “hold” rating to a “sell” rating and set a $10.00 price target for the company. in a research note on Friday, March 2nd. Finally, Ladenburg Thalmann Financial Services reissued a “hold” rating on shares of Whitestone REIT in a research note on Thursday, November 30th. Three analysts have rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $12.60.
Whitestone REIT (NYSE:WSR) last issued its quarterly earnings results on Thursday, March 1st. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.22). Whitestone REIT had a return on equity of 2.49% and a net margin of 6.62%. The business had revenue of $33.83 million for the quarter, compared to the consensus estimate of $33.59 million. equities research analysts anticipate that Whitestone REIT will post 1.02 earnings per share for the current fiscal year.
In other news, VP Christine J. Mastandrea bought 2,500 shares of the firm’s stock in a transaction on Monday, March 5th. The stock was acquired at an average cost of $10.65 per share, with a total value of $26,625.00. Following the transaction, the vice president now directly owns 112,013 shares in the company, valued at approximately $1,192,938.45. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.29% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Amundi Pioneer Asset Management Inc. bought a new stake in Whitestone REIT during the 4th quarter valued at $108,000. First Trust Advisors LP bought a new stake in Whitestone REIT during the 3rd quarter valued at $131,000. Municipal Employees Retirement System of Michigan bought a new stake in Whitestone REIT during the 3rd quarter valued at $189,000. Teachers Retirement System of The State of Kentucky raised its position in Whitestone REIT by 277.1% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 13,200 shares of the real estate investment trust’s stock valued at $190,000 after purchasing an additional 9,700 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in Whitestone REIT during the 4th quarter valued at $193,000. 54.52% of the stock is owned by institutional investors and hedge funds.
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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