Independent Order of Foresters Takes Position in Whitestone REIT (WSR)
Independent Order of Foresters acquired a new position in shares of Whitestone REIT (NYSE:WSR) during the second quarter, Holdings Channel reports. The institutional investor acquired 20,000 shares of the real estate investment trust’s stock, valued at approximately $245,000.
A number of other large investors also recently added to or reduced their stakes in WSR. Dimensional Fund Advisors LP increased its stake in Whitestone REIT by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 383,292 shares of the real estate investment trust’s stock worth $5,512,000 after buying an additional 7,527 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Whitestone REIT during the fourth quarter worth $552,000. State Street Corp increased its stake in Whitestone REIT by 11.4% in the fourth quarter. State Street Corp now owns 452,236 shares of the real estate investment trust’s stock worth $6,507,000 after buying an additional 46,319 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in Whitestone REIT by 1.6% in the first quarter. Asset Management One Co. Ltd. now owns 65,760 shares of the real estate investment trust’s stock worth $900,000 after buying an additional 1,054 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in Whitestone REIT by 3.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 75,462 shares of the real estate investment trust’s stock worth $1,044,000 after buying an additional 2,225 shares during the last quarter. 35.92% of the stock is currently owned by institutional investors.
Shares of Whitestone REIT (NYSE:WSR) opened at 12.93 on Wednesday. Whitestone REIT has a 12-month low of $10.80 and a 12-month high of $15.44. The firm’s 50-day moving average price is $12.56 and its 200-day moving average price is $13.01. The firm has a market capitalization of $461.79 million, a P/E ratio of 93.02 and a beta of 0.92.
Whitestone REIT (NYSE:WSR) last posted its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.05. The business had revenue of $30.20 million for the quarter, compared to analyst estimates of $30.68 million. Whitestone REIT had a net margin of 4.36% and a return on equity of 1.69%. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter last year, the business posted $0.32 EPS. Equities analysts predict that Whitestone REIT will post $0.27 earnings per share for the current fiscal year.
The company also recently declared a monthly dividend, which will be paid on Friday, August 11th. Investors of record on Thursday, August 3rd will be given a dividend of $0.095 per share. The ex-dividend date is Tuesday, August 1st. This represents a $1.14 annualized dividend and a dividend yield of 8.82%. Whitestone REIT’s dividend payout ratio is 876.99%.
A number of equities research analysts have weighed in on WSR shares. Zacks Investment Research raised Whitestone REIT from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Thursday, May 25th. FBR & Co reaffirmed an “outperform” rating and set a $14.00 price objective on shares of Whitestone REIT in a report on Tuesday, July 11th. Maxim Group reaffirmed a “buy” rating and set a $20.00 price objective on shares of Whitestone REIT in a report on Wednesday, June 14th. BidaskClub raised Whitestone REIT from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. Finally, ValuEngine downgraded Whitestone REIT from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Whitestone REIT has a consensus rating of “Buy” and a consensus price target of $14.25.
About Whitestone REIT
Whitestone REIT is a real estate investment trust. The Company is engaged in owning and operating commercial properties in culturally diverse markets in various metropolitan areas. The Company’s acquisition targets are located in densely populated, culturally diverse neighborhoods, primarily in and around Austin, Chicago, Dallas-Fort Worth, Houston, Phoenix and San Antonio.
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