Whitestone Reit (WSR) Declares $0.10 Monthly Dividend
Whitestone Reit (NYSE:WSR) declared a monthly dividend on Thursday, September 22nd. Investors of record on Monday, October 3rd will be paid a dividend of 0.095 per share on Wednesday, October 12th. This represents a $1.14 dividend on an annualized basis and a yield of 7.96%. The ex-dividend date is Thursday, September 29th.
In other news, VP Christine J. Mastandrea bought 2,000 shares of the business’s stock in a transaction on Friday, August 19th. The shares were bought at an average cost of $14.56 per share, with a total value of $29,120.00. Following the purchase, the vice president now directly owns 79,507 shares in the company, valued at $1,157,621.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 5.53% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. 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 during the period. Nomura Holdings Inc. purchased a new stake in shares of Whitestone Reit during the second quarter valued at about $170,000. KCG Holdings Inc. purchased a new stake in shares of Whitestone Reit during the second quarter valued at about $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 during the period. 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 during the period. 42.44% of the stock is currently owned by institutional investors.
Shares of Whitestone Reit (NYSE:WSR) opened at 14.33 on Friday. The stock’s 50 day moving average price is $14.60 and its 200-day moving average price is $14.05. Whitestone Reit has a 12 month low of $9.44 and a 12 month high of $16.30. The stock has a market capitalization of $409.67 million, a price-to-earnings ratio of 42.02 and a beta of 0.81.
Whitestone Reit (NYSE:WSR) last announced its earnings results on Wednesday, July 27th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by $0.02. Whitestone Reit had a net margin of 10.03% and a return on equity of 4.11%. The firm had revenue of $25.13 million for the quarter, compared to analyst estimates of $26.04 million. During the same period last year, the firm earned $0.35 earnings per share. Whitestone Reit’s revenue for the quarter was up 14.4% compared to the same quarter last year. Equities analysts forecast that Whitestone Reit will post $1.35 earnings per share for the current fiscal year.
A number of research analysts have commented on the company. Zacks Investment Research cut Whitestone Reit from a “hold” rating to a “sell” rating in a research note on Wednesday, July 20th. Robert W. Baird cut Whitestone Reit from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $16.00 to $15.00 in a research note on Friday, August 19th. Maxim Group boosted their price objective on Whitestone Reit from $18.50 to $20.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Finally, Hilliard Lyons cut Whitestone Reit from a “buy” rating to a “neutral” rating in a research note on Thursday, July 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $15.63.
About Whitestone Reit
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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