Zacks Investment Research Upgrades Whitestone REIT (WSR) to “Hold”

Whitestone REIT (NYSE:WSR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Saturday.

According to Zacks, “Whitestone REIT is a fully integrated real estate investment trust that acquires, owns, manages, develops and redevelops high quality internet-resistant neighborhood, community and lifestyle retail centers. Whitestone’s properties are principally located in Austin, Dallas-Fort Worth, Houston, San Antonio and Phoenix, which are among the fastest-growing markets in the country with highly educated workforces, high household incomes and strong job growth. The Company’s strategy is to target shifting consumer behavior and purchasing patterns by creating a complementary mix of grocery, dining, health and wellness, education, services, entertainment and specialty retail in its properties. Whitestone’s national, regional and local tenants provide daily necessities, needed services and convenience to the community which are not readily available online. Whitestone is headquartered in Houston, Texas. “

WSR has been the topic of several other research reports. B. Riley restated a “buy” rating and set a $15.00 price target on shares of Whitestone REIT in a research report on Tuesday, December 12th. ValuEngine upgraded shares of Whitestone REIT from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, Ladenburg Thalmann Financial Services restated a “hold” rating on shares of Whitestone REIT in a research report on Thursday, November 30th. One analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Whitestone REIT presently has an average rating of “Buy” and a consensus price target of $14.75.

Whitestone REIT (NYSE WSR) traded down $0.14 during mid-day trading on Friday, reaching $13.64. 224,030 shares of the company traded hands, compared to its average volume of 319,216. The firm has a market capitalization of $530.35, a price-to-earnings ratio of 80.24 and a beta of 1.02. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.87. Whitestone REIT has a 52 week low of $10.80 and a 52 week high of $15.15.

Whitestone REIT (NYSE:WSR) last released its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.07. The company had revenue of $33.70 million for 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 firm’s revenue was up 32.2% on a year-over-year basis. During the same quarter last year, the business earned $0.33 earnings per share. research analysts predict that Whitestone REIT will post 1.02 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. GSA Capital Partners LLP purchased a new position in Whitestone REIT during the third quarter valued at $225,000. Cubist Systematic Strategies LLC purchased a new position in Whitestone REIT during the third quarter valued at $606,000. Boothbay Fund Management LLC purchased a new position in Whitestone REIT during the third quarter valued at $210,000. Mackenzie Financial Corp lifted its holdings in Whitestone REIT by 50.0% during the third quarter. Mackenzie Financial Corp now owns 15,002 shares of the real estate investment trust’s stock valued at $196,000 after purchasing an additional 5,002 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Whitestone REIT by 13.9% during the third quarter. Dimensional Fund Advisors LP now owns 515,434 shares of the real estate investment trust’s stock valued at $6,726,000 after purchasing an additional 62,884 shares in the last quarter. 49.84% of the stock is currently owned by institutional investors and hedge funds.

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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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