Whitestone Reit (WSR) Announces $0.10 Monthly Dividend
Whitestone Reit (NYSE:WSR) announced a monthly dividend on Thursday, September 22nd. Shareholders of record on Thursday, December 1st will be given a dividend of 0.095 per share on Friday, December 9th. This represents a $1.14 dividend on an annualized basis and a yield of 7.96%. The ex-dividend date is Tuesday, November 29th.
A number of analysts have issued reports on WSR shares. Zacks Investment Research downgraded shares of Whitestone Reit from a “hold” rating to a “sell” rating in a report on Wednesday, July 20th. Robert W. Baird downgraded shares of Whitestone Reit from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $16.00 to $15.00 in a report on Friday, August 19th. Hilliard Lyons downgraded shares of Whitestone Reit from a “buy” rating to a “neutral” rating in a report on Thursday, July 14th. Finally, Maxim Group boosted their price objective on shares of Whitestone Reit from $18.50 to $20.00 and gave the company a “buy” rating in a report on Friday, July 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $15.63.
In other news, VP Christine J. Mastandrea bought 2,000 shares of the stock in a transaction dated Friday, August 19th. The stock was bought at an average price of $14.56 per share, for a total transaction of $29,120.00. Following the completion of the acquisition, the vice president now directly owns 79,507 shares in the company, valued at approximately $1,157,621.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.53% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in WSR. BlackRock Inc. increased its stake 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. purchased a new stake in shares of Whitestone Reit during the second quarter valued at approximately $170,000. KCG Holdings Inc. purchased a new stake in shares of Whitestone Reit during the second quarter valued at approximately $172,000. BlackRock Advisors LLC increased its stake in shares of Whitestone Reit by 71.4% in the second quarter. BlackRock Advisors LLC now owns 13,812 shares of the company’s stock valued at $208,000 after buying an additional 5,754 shares in the last quarter. Finally, American International Group Inc. increased its stake in shares of Whitestone Reit by 10.7% in the second quarter. American International Group Inc. now owns 15,068 shares of the company’s stock valued at $227,000 after buying an additional 1,461 shares in the last quarter. Institutional investors own 42.44% of the company’s stock.
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 firm has a market capitalization of $409.67 million, a PE ratio of 42.02 and a beta of 0.81. The stock has a 50 day moving average of $14.60 and a 200 day moving average of $14.05.
Whitestone Reit (NYSE:WSR) last announced 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. The firm earned $25.13 million during 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 business’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 EPS. On average, equities analysts predict that Whitestone Reit will post $1.35 earnings per share for the current fiscal year.
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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