Ridgewood Investments LLC reduced its stake in shares of Whitestone REIT (NYSE:WSR) by 1.5% during the second quarter, Holdings Channel reports. The fund owned 66,740 shares of the real estate investment trust’s stock after selling 1,016 shares during the period. Whitestone REIT comprises 0.8% of Ridgewood Investments LLC’s investment portfolio, making the stock its 29th largest position. Ridgewood Investments LLC’s holdings in Whitestone REIT were worth $818,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Schnieders Capital Management LLC raised its position in Whitestone REIT by 4.5% in the first quarter. Schnieders Capital Management LLC now owns 10,475 shares of the real estate investment trust’s stock valued at $145,000 after buying an additional 450 shares during the last quarter. HL Financial Services LLC raised its stake in Whitestone REIT by 3.4% in the first quarter. HL Financial Services LLC now owns 28,692 shares of the real estate investment trust’s stock worth $397,000 after buying an additional 935 shares in the last quarter. Capital Investment Advisors LLC raised its stake in Whitestone REIT by 8.8% in the second quarter. Capital Investment Advisors LLC now owns 12,300 shares of the real estate investment trust’s stock worth $151,000 after buying an additional 1,000 shares in the last quarter. Asset Management One Co. Ltd. raised 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 in the last quarter. Finally, American International Group Inc. raised its stake in Whitestone REIT by 7.3% in the first quarter. American International Group Inc. now owns 16,157 shares of the real estate investment trust’s stock worth $224,000 after buying an additional 1,105 shares in the last quarter. Hedge funds and other institutional investors own 35.92% of the company’s stock.

Shares of Whitestone REIT (NYSE:WSR) opened at 12.85 on Friday. Whitestone REIT has a 1-year low of $10.80 and a 1-year high of $15.34. The stock’s 50 day moving average is $12.66 and its 200-day moving average is $12.98. The stock has a market cap of $495.02 million, a price-to-earnings ratio of 89.24 and a beta of 0.92.

Whitestone REIT (NYSE:WSR) last posted its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.05. Whitestone REIT had a return on equity of 1.69% and a net margin of 4.36%. The firm had revenue of $30.20 million during the quarter, compared to analyst estimates of $30.68 million. During the same period in the previous year, the company earned $0.32 EPS. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. On average, analysts anticipate that Whitestone REIT will post $0.28 EPS for the current year.

The business also recently announced a monthly dividend, which was paid on Friday, August 11th. Investors of record on Thursday, August 3rd were issued a $0.095 dividend. The ex-dividend date was Tuesday, August 1st. This represents a $1.14 annualized dividend and a yield of 8.87%. Whitestone REIT’s dividend payout ratio (DPR) is currently 876.99%.

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WSR has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Whitestone REIT from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Thursday, May 25th. ValuEngine upgraded shares of Whitestone REIT from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Maxim Group reiterated a “buy” rating and set a $20.00 price objective on shares of Whitestone REIT in a research note on Wednesday, June 14th. Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of Whitestone REIT in a research note on Monday, May 22nd. Finally, FBR & Co reiterated an “outperform” rating and set a $14.00 price objective on shares of Whitestone REIT in a research note on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average 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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Institutional Ownership by Quarter for Whitestone REIT (NYSE:WSR)

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