Whitestone REIT (NYSE:WSR) Cut to Sell at Zacks Investment Research

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

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. “

A number of other equities research analysts also recently weighed in on WSR. Maxim Group set a $15.00 price objective on Whitestone REIT and gave the company a “buy” rating in a report on Monday, August 12th. B. Riley set a $13.00 price objective on Whitestone REIT and gave the company a “hold” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Whitestone REIT has a consensus rating of “Hold” and a consensus price target of $14.00.

NYSE WSR traded down $0.04 during trading on Friday, reaching $13.43. 306,179 shares of the company traded hands, compared to its average volume of 232,466. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.75 and a current ratio of 1.75. The stock’s 50 day moving average price is $12.72 and its two-hundred day moving average price is $12.53. The company has a market cap of $545.58 million, a price-to-earnings ratio of 11.58 and a beta of 1.03. Whitestone REIT has a 1-year low of $11.50 and a 1-year high of $14.65.

Whitestone REIT (NYSE:WSR) last released its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.17). The company had revenue of $29.58 million for the quarter, compared to analyst estimates of $30.16 million. Whitestone REIT had a net margin of 17.94% and a return on equity of 6.19%. Equities research analysts expect that Whitestone REIT will post 0.92 EPS for the current fiscal year.

In other Whitestone REIT news, CEO James C. Mastandrea bought 10,000 shares of Whitestone REIT stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $12.64 per share, with a total value of $126,400.00. Following the acquisition, the chief executive officer now directly owns 1,027,250 shares of the company’s stock, valued at $12,984,440. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.60% of the stock is owned by insiders.

About Whitestone REIT

Whitestone is a community-centered retail REIT that acquires, owns, manages, develops and redevelops high quality "E-Commerce resistant" neighborhood, community and lifestyle retail centers principally located in the largest, fastest growing and most affluent markets in the Sunbelt. Whitestone's optimal mix of national, regional and local tenants provides daily necessities, needed services and entertainment to the communities in which they are located.

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