Traders Buy Shares of Whitestone REIT (WSR) on Weakness

Traders purchased shares of Whitestone REIT (NYSE:WSR) on weakness during trading on Tuesday. $39.89 million flowed into the stock on the tick-up and $4.08 million flowed out of the stock on the tick-down, for a money net flow of $35.81 million into the stock. Of all companies tracked, Whitestone REIT had the 11th highest net in-flow for the day. Whitestone REIT traded down ($0.21) for the day and closed at $13.29

Several research firms have recently weighed in on WSR. Zacks Investment Research lowered Whitestone REIT from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 26th. ValuEngine raised Whitestone REIT from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. BidaskClub raised Whitestone REIT from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. Ladenburg Thalmann Financial Services reissued a “hold” rating on shares of Whitestone REIT in a research note on Friday, August 18th. Finally, Maxim Group reissued a “buy” rating and set a $20.00 price objective on shares of Whitestone REIT in a research note on Wednesday, June 14th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $14.25.

The firm has a 50 day moving average of $12.82 and a 200-day moving average of $12.78. The company has a market capitalization of $511.97 million, a price-to-earnings ratio of 92.29 and a beta of 0.93.

Whitestone REIT (NYSE:WSR) last announced its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.05. Whitestone REIT had a net margin of 4.36% and a return on equity of 1.69%. The company had revenue of $30.20 million during the quarter, compared to analyst estimates of $30.68 million. During the same quarter in the previous year, the business earned $0.32 EPS. The firm’s revenue was up 20.2% on a year-over-year basis. On average, equities research analysts anticipate that Whitestone REIT will post $0.28 earnings per share for the current year.

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Tuesday, September 5th will be issued a $0.095 dividend. This represents a $1.14 annualized dividend and a dividend yield of 8.58%. The ex-dividend date is Thursday, August 31st. Whitestone REIT’s dividend payout ratio (DPR) is 876.99%.

In other news, Director Paul T. Lambert purchased 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The stock was bought at an average price of $12.29 per share, with a total value of $36,870.00. Following the acquisition, the director now directly owns 51,918 shares of the company’s stock, valued at $638,072.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.29% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in WSR. PVG Asset Management Corp grew its holdings in shares of Whitestone REIT by 284.4% in the 2nd quarter. PVG Asset Management Corp now owns 978,814 shares of the real estate investment trust’s stock valued at $11,990,000 after buying an additional 724,157 shares during the period. Chilton Capital Management LLC acquired a new position in shares of Whitestone REIT in the 2nd quarter valued at $6,727,000. Northpointe Capital LLC acquired a new position in shares of Whitestone REIT in the 2nd quarter valued at $3,906,000. Vanguard Group Inc. grew its holdings in shares of Whitestone REIT by 8.0% in the 2nd quarter. Vanguard Group Inc. now owns 3,641,643 shares of the real estate investment trust’s stock valued at $44,610,000 after buying an additional 269,793 shares during the period. Finally, Garner Asset Management Corp acquired a new position in shares of Whitestone REIT in the 2nd quarter valued at $1,908,000. 43.77% of the stock is owned by institutional investors.

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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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