Bank of New York Mellon Corp grew its holdings in shares of Whitestone REIT (NYSE:WSR) by 75.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 574,802 shares of the real estate investment trust’s stock after purchasing an additional 247,970 shares during the quarter. Bank of New York Mellon Corp owned about 1.49% of Whitestone REIT worth $7,500,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Perigon Wealth Management LLC bought a new position in Whitestone REIT during the second quarter worth about $101,000. First Trust Advisors LP bought a new position in Whitestone REIT during the third quarter worth about $131,000. First Allied Advisory Services Inc. bought a new position in Whitestone REIT during the second quarter worth about $168,000. Advisor Group Inc. boosted its position in Whitestone REIT by 147.4% during the second quarter. Advisor Group Inc. now owns 14,840 shares of the real estate investment trust’s stock worth $182,000 after purchasing an additional 8,841 shares during the period. Finally, Municipal Employees Retirement System of Michigan bought a new position in Whitestone REIT during the third quarter worth about $189,000. Hedge funds and other institutional investors own 49.84% of the company’s stock.

Whitestone REIT (WSR) opened at $14.63 on Friday. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.82 and a quick ratio of 0.82. Whitestone REIT has a 1 year low of $10.80 and a 1 year high of $15.15. The company has a market cap of $565.37, a P/E ratio of 86.06 and a beta of 1.02.

Whitestone REIT (NYSE:WSR) last released its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. Whitestone REIT had a net margin of 5.77% and a return on equity of 2.22%. The company had revenue of $33.70 million during the quarter, compared to analyst estimates of $32.78 million. During the same period last year, the business earned $0.33 earnings per share. Whitestone REIT’s revenue was up 32.2% compared to the same quarter last year. analysts predict that Whitestone REIT will post 1.02 EPS for the current fiscal year.

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Monday, February 5th will be given a $0.095 dividend. The ex-dividend date is Friday, February 2nd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 7.79%. Whitestone REIT’s dividend payout ratio (DPR) is currently 670.59%.

A number of brokerages have weighed in on WSR. Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of Whitestone REIT in a research report on Thursday, November 30th. Zacks Investment Research lowered shares of Whitestone REIT from a “hold” rating to a “sell” rating in a research report on Wednesday, November 15th. B. Riley restated a “buy” rating and issued a $15.00 price objective on shares of Whitestone REIT in a research report on Tuesday, December 12th. Finally, ValuEngine upgraded shares of Whitestone REIT from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $14.75.

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Whitestone REIT Profile

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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