Whitestone Reit (WSR) Shares Down 4%
Shares of Whitestone Reit (NYSE:WSR) dropped 4% during mid-day trading on Friday . The company traded as low as $14.39 and last traded at $14.57, with a volume of 419,962 shares trading hands. The stock had previously closed at $15.17.
WSR has been the topic of a number of analyst reports. Maxim Group boosted their price objective 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 decreased their price objective 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 investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Whitestone Reit presently has an average rating of “Hold” and a consensus target price of $15.63.
The company has a 50-day moving average of $15.48 and a 200-day moving average of $13.44. The firm has a market capitalization of $416.81 million and a price-to-earnings ratio of 42.76.
Whitestone Reit (NYSE:WSR) last issued its earnings results on Wednesday, July 27th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.34 by $0.02. During the same quarter last year, the company posted $0.35 EPS. The business earned $25.13 million during the quarter, compared to analyst estimates of $26.04 million. The company’s revenue was up 14.4% on a year-over-year basis. On average, equities analysts predict that Whitestone Reit will post $1.35 EPS for the current year.
The firm also recently announced a monthly dividend, which will be paid on Friday, September 9th. Shareholders of record on Thursday, September 1st will be paid a dividend of $0.095 per share. The ex-dividend date is Tuesday, August 30th. This represents a $1.14 annualized dividend and a yield of 7.82%.
A hedge fund recently raised its stake in Whitestone Reit stock. Dimensional Fund Advisors LP raised its stake in shares of Whitestone Reit (NYSE:WSR) by 15.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter.
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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