Emerald Acquisition Ltd. Invests $869,000 in Whitestone Reit (WSR)
Emerald Acquisition Ltd. acquired a new stake in shares of Whitestone Reit (NYSE:WSR) during the second quarter, Holdings Channel reports. The fund acquired 57,596 shares of the company’s stock, valued at approximately $869,000. Emerald Acquisition Ltd. owned about 0.20% of Whitestone Reit at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bank of Montreal Can bought a new position in Whitestone Reit during the second quarter valued at $166,000. HL Financial Services LLC boosted its position in Whitestone Reit by 13.0% in the second quarter. HL Financial Services LLC now owns 21,957 shares of the company’s stock valued at $331,000 after buying an additional 2,530 shares during the last quarter. Commonwealth Equity Services Inc boosted its position in Whitestone Reit by 3.3% in the first quarter. Commonwealth Equity Services Inc now owns 33,007 shares of the company’s stock valued at $415,000 after buying an additional 1,058 shares during the last quarter. James Investment Research Inc. bought a new position in Whitestone Reit during the second quarter valued at $425,000. Finally, Silver Capital Management LLC acquired a new stake in shares of Whitestone Reit during the second quarter valued at about $495,000. 42.44% of the stock is owned by hedge funds and other institutional investors.
Whitestone Reit (NYSE:WSR) traded up 1.90% during trading on Wednesday, hitting $12.90. 30,175 shares of the company’s stock were exchanged. Whitestone Reit has a 12-month low of $9.44 and a 12-month high of $16.30. The firm has a market cap of $368.79 million, a price-to-earnings ratio of 37.83 and a beta of 0.85. The company’s 50-day moving average price is $14.04 and its 200 day moving average price is $14.19.
Whitestone Reit (NYSE:WSR) last issued its quarterly earnings data 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. The company 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 firm’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 earnings per share. Equities analysts forecast that Whitestone Reit will post $1.35 earnings per share for the current fiscal year.
The business also recently disclosed a monthly dividend, which will be paid on Wednesday, October 12th. Investors of record on Monday, October 3rd will be issued a $0.095 dividend. The ex-dividend date is Thursday, September 29th. This represents a $1.14 annualized dividend and a yield of 9.00%. Whitestone Reit’s dividend payout ratio (DPR) is currently 325.71%.
Several brokerages recently issued reports on WSR. Zacks Investment Research upgraded shares of Whitestone Reit from a “sell” rating to a “hold” rating in a research report on Tuesday, August 9th. Maxim Group boosted their target price on shares of Whitestone Reit from $18.50 to $20.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Hilliard Lyons lowered shares of Whitestone Reit from a “buy” rating to a “neutral” rating in a research report on Thursday, July 14th. Finally, Robert W. Baird lowered shares of Whitestone Reit from an “outperform” rating to a “neutral” rating and cut their target price for the company from $16.00 to $15.00 in a research report on Friday, August 19th. 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 stock. Whitestone Reit currently has an average rating of “Hold” and a consensus price target of $15.63.
In related news, VP Christine J. Mastandrea acquired 2,000 shares of Whitestone Reit stock in a transaction that occurred on Friday, August 19th. The shares were purchased at an average cost of $14.56 per share, for a total transaction of $29,120.00. Following the acquisition, the vice president now owns 79,507 shares in the company, valued at $1,157,621.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 5.53% of the stock is currently owned by corporate insiders.
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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