Whitestone Reit (WSR) Sees Large Volume Increase
Whitestone Reit (NYSE:WSR) shares saw unusually-high trading volume on Thursday . Approximately 175,491 shares traded hands during mid-day trading, an increase of 1% from the previous session’s volume of 173,085 shares.The stock last traded at $15.17 and had previously closed at $15.00.
WSR has been the subject of a number of recent research reports. Maxim Group increased their target price on Whitestone Reit from $18.50 to $20.00 and gave the company a “buy” rating in a research note on Friday, July 29th. Zacks Investment Research lowered Whitestone Reit from a “buy” rating to a “hold” rating in a research note on Saturday, June 18th. Robert W. Baird lowered 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. Finally, Hilliard Lyons lowered Whitestone Reit from a “buy” rating to a “neutral” rating in a research note on Thursday, July 14th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $15.63.
The firm has a market capitalization of $416.81 million and a PE ratio of 42.76. The company’s 50-day moving average price is $15.48 and its 200 day moving average price is $13.44.
Whitestone Reit (NYSE:WSR) last issued its earnings results on Wednesday, July 27th. The company reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by $0.02. During the same period in the previous year, the business posted $0.35 earnings per share. The firm earned $25.13 million during the quarter, compared to analyst estimates of $26.04 million. The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year. On average, analysts forecast that Whitestone Reit will post $1.35 EPS for the current fiscal year.
The firm also recently announced a monthly dividend, which will be paid on Friday, September 9th. Stockholders of record on Thursday, September 1st will be given a $0.095 dividend. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $1.14 annualized dividend and a dividend yield of 7.82%.
An institutional investor recently raised its position in Whitestone Reit stock. Dimensional Fund Advisors LP raised its stake in Whitestone Reit (NYSE:WSR) by 15.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 329,715 shares of the company’s stock after buying an additional 43,552 shares during the period. Dimensional Fund Advisors LP owned 1.22% of Whitestone Reit worth $3,960,000 as of its most recent SEC filing.
Whitestone REIT is a Real Estate Investment Trust (REIT). The Company is engaged in owning and operating commercial properties in diverse markets in metropolitan areas. As of December 31, 2014, the Company owned a real estate portfolio of 63 properties containing approximately 5.5 million square feet of gross leasable area (GLA), located in Texas, Arizona and Illinois.
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