Ameriprise Financial Inc. bought a new stake in shares of Whitestone REIT (NYSE:WSR) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 18,599 shares of the real estate investment trust’s stock, valued at approximately $229,000. Ameriprise Financial Inc. owned about 0.05% of Whitestone REIT at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the business. Teachers Advisors LLC increased its holdings in Whitestone REIT by 43.6% during the second quarter. Teachers Advisors LLC now owns 67,196 shares of the real estate investment trust’s stock valued at $823,000 after buying an additional 20,404 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Whitestone REIT by 10.0% during the second quarter. Alliancebernstein L.P. now owns 353,319 shares of the real estate investment trust’s stock valued at $4,328,000 after buying an additional 32,190 shares during the last quarter. AXA increased its holdings in Whitestone REIT by 39.4% during the second quarter. AXA now owns 95,000 shares of the real estate investment trust’s stock valued at $1,164,000 after buying an additional 26,871 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Whitestone REIT by 14.0% during the second quarter. Wells Fargo & Company MN now owns 96,492 shares of the real estate investment trust’s stock valued at $1,182,000 after buying an additional 11,840 shares during the last quarter. Finally, Kennedy Capital Management Inc. purchased a new stake in Whitestone REIT during the second quarter valued at approximately $858,000. 44.89% of the stock is owned by institutional investors and hedge funds.
In other news, Director Paul T. Lambert purchased 3,000 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was acquired at an average cost of $12.29 per share, for a total transaction of $36,870.00. Following the completion of the transaction, the director now directly owns 51,918 shares in the company, valued at approximately $638,072.22. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.29% of the company’s stock.
Whitestone REIT (NYSE:WSR) last posted its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.07. The business had revenue of $33.70 million during the quarter, compared to analyst estimates of $32.78 million. Whitestone REIT had a net margin of 5.77% and a return on equity of 2.22%. The company’s revenue was up 32.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 earnings per share. sell-side analysts anticipate that Whitestone REIT will post 1.02 EPS for the current year.
The company also recently declared a monthly dividend, which was paid on Monday, November 13th. Shareholders of record on Friday, November 3rd were given a $0.095 dividend. The ex-dividend date was Thursday, November 2nd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 7.90%. Whitestone REIT’s payout ratio is currently 633.33%.
A number of analysts have commented on WSR shares. Zacks Investment Research cut shares of Whitestone REIT from a “hold” rating to a “sell” rating in a report on Friday, August 18th. ValuEngine lowered shares of Whitestone REIT from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub upgraded shares of Whitestone REIT from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Finally, Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of Whitestone REIT in a research report on Friday, August 18th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $14.67.
Whitestone REIT Company 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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