Whitestone Reit to Issue Monthly Dividend of $0.10 (WSR)
Whitestone Reit (NYSE:WSR) declared a monthly dividend on Thursday, September 22nd. Shareholders of record on Tuesday, November 1st will be given a dividend of 0.095 per share on Friday, November 11th. This represents a $1.14 annualized dividend and a yield of 7.96%. The ex-dividend date of this dividend is Friday, October 28th.
A number of research analysts have recently commented on the company. Zacks Investment Research downgraded Whitestone Reit from a “buy” rating to a “hold” rating in a research report on Saturday, June 18th. 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 report on Friday, July 29th. Robert W. Baird downgraded 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 report on Friday, August 19th. Finally, Hilliard Lyons downgraded Whitestone Reit from a “buy” rating to a “neutral” rating in a research report on Thursday, July 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Whitestone Reit currently has a consensus rating of “Hold” and a consensus price target of $15.63.
Shares of Whitestone Reit (NYSE:WSR) opened at 14.33 on Friday. Whitestone Reit has a 12 month low of $9.44 and a 12 month high of $16.30. The company has a market capitalization of $409.67 million, a P/E ratio of 42.02 and a beta of 0.81. The company has a 50-day moving average price of $14.60 and a 200-day moving average price of $14.05.
Whitestone Reit (NYSE:WSR) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by $0.02. The company had revenue of $25.13 million for the quarter, compared to analysts’ expectations of $26.04 million. Whitestone Reit had a net margin of 10.03% and a return on equity of 4.11%. The firm’s revenue was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.35 earnings per share. On average, analysts forecast that Whitestone Reit will post $1.35 EPS for the current fiscal year.
In related news, VP Christine J. Mastandrea purchased 2,000 shares of Whitestone Reit stock in a transaction that occurred on Friday, August 19th. The stock was bought at an average cost of $14.56 per share, for a total transaction of $29,120.00. Following the completion of the transaction, the vice president now owns 79,507 shares in the company, valued at $1,157,621.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.53% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in WSR. BlackRock Inc. boosted its position in shares of Whitestone Reit by 366.1% in the second quarter. BlackRock Inc. now owns 8,319 shares of the company’s stock valued at $125,000 after buying an additional 6,534 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in Whitestone Reit during the second quarter worth approximately $170,000. KCG Holdings Inc. acquired a new stake in Whitestone Reit during the second quarter worth approximately $172,000. BlackRock Advisors LLC boosted its stake in Whitestone Reit by 71.4% in the second quarter. BlackRock Advisors LLC now owns 13,812 shares of the company’s stock worth $208,000 after buying an additional 5,754 shares during the period. Finally, American International Group Inc. boosted its stake in Whitestone Reit by 10.7% in the second quarter. American International Group Inc. now owns 15,068 shares of the company’s stock worth $227,000 after buying an additional 1,461 shares during the period. Institutional investors own 42.44% of the company’s stock.
Whitestone Reit Company Profile
Whitestone REIT is a self-managed, real estate investment trust (REIT) that owns, manages and redevelops a portfolio of neighborhood, community and lifestyle retail centers. The Company’s strategy is to cater to shifting consumer behavior and purchasing patterns by creating an optimal mix of tenants who provide convenience and services and necessities to the community which are not readily available online.
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