American International Group Inc. lifted its stake in shares of Whitestone REIT (NYSE:WSR) by 28.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,353 shares of the real estate investment trust’s stock after purchasing an additional 6,522 shares during the period. American International Group Inc. owned 0.08% of Whitestone REIT worth $383,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of WSR. Perigon Wealth Management LLC bought a new position in Whitestone REIT in the 2nd quarter worth approximately $101,000. First Trust Advisors LP bought a new position in Whitestone REIT in the 3rd quarter worth approximately $131,000. First Allied Advisory Services Inc. bought a new position in Whitestone REIT in the 2nd quarter worth approximately $168,000. Advisor Group Inc. boosted its holdings in Whitestone REIT by 147.4% in the 2nd quarter. Advisor Group Inc. now owns 14,840 shares of the real estate investment trust’s stock worth $182,000 after buying an additional 8,841 shares during the period. Finally, Municipal Employees Retirement System of Michigan bought a new position in Whitestone REIT in the 3rd quarter worth approximately $189,000. Institutional investors own 49.84% of the company’s stock.
Whitestone REIT (WSR) opened at $14.44 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.87. Whitestone REIT has a fifty-two week low of $10.80 and a fifty-two week high of $15.15. The company has a market cap of $552.67, a price-to-earnings ratio of 84.94 and a beta of 1.02.
The business also recently disclosed a monthly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Monday, February 5th will be issued a dividend of $0.095 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 7.89%. The ex-dividend date of this dividend is Friday, February 2nd. Whitestone REIT’s dividend payout ratio is currently 670.59%.
Several brokerages have commented on WSR. Zacks Investment Research downgraded shares of Whitestone REIT from a “hold” rating to a “sell” rating in a report on Wednesday, November 15th. Ladenburg Thalmann Financial Services reissued a “hold” rating on shares of Whitestone REIT in a report on Thursday, November 30th. ValuEngine downgraded shares of Whitestone REIT from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, B. Riley reissued a “buy” rating and issued a $15.00 price target on shares of Whitestone REIT in a report on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus 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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