Whitestone REIT (NYSE:WSR) shares saw unusually-high trading volume on Monday . Approximately 2,468,884 shares were traded during trading, an increase of 568% from the previous session’s volume of 369,652 shares.The stock last traded at $13.50 and had previously closed at $12.94.
WSR has been the topic of several recent research reports. FBR & Co restated an “outperform” rating and set a $14.00 target price on shares of Whitestone REIT in a report on Tuesday, July 11th. ValuEngine upgraded shares of Whitestone REIT from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research lowered shares of Whitestone REIT from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Ladenburg Thalmann Financial Services restated a “hold” rating on shares of Whitestone REIT in a report on Monday, May 22nd. Finally, Maxim Group restated a “buy” rating and set a $20.00 target price on shares of Whitestone REIT in a report on Wednesday, June 14th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Whitestone REIT has an average rating of “Hold” and a consensus target price of $14.25.
The stock has a 50 day moving average of $12.82 and a 200-day moving average of $12.78. The stock has a market cap of $511.97 million, a PE ratio of 92.29 and a beta of 0.93.
Whitestone REIT (NYSE:WSR) last posted its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.05. The business had revenue of $30.20 million during the quarter, compared to the consensus estimate of $30.68 million. Whitestone REIT had a net margin of 4.36% and a return on equity of 1.69%. Whitestone REIT’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 EPS. On average, analysts expect that Whitestone REIT will post $0.28 earnings per share for the current fiscal year.
The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 13th. Investors of record on Tuesday, September 5th will be issued a dividend of $0.095 per share. This represents a $1.14 annualized dividend and a dividend yield of 8.58%. The ex-dividend date of this dividend is Thursday, August 31st. Whitestone REIT’s dividend payout ratio is currently 876.99%.
In other news, Director Paul T. Lambert acquired 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The stock was acquired at an average cost of $12.29 per share, with a total value of $36,870.00. Following the acquisition, the director now owns 51,918 shares in the company, valued at $638,072.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.29% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of WSR. PVG Asset Management Corp boosted its holdings in shares of Whitestone REIT by 284.4% during the 2nd quarter. PVG Asset Management Corp now owns 978,814 shares of the real estate investment trust’s stock worth $11,990,000 after buying an additional 724,157 shares during the period. Chilton Capital Management LLC bought a new stake in shares of Whitestone REIT during the 2nd quarter worth $6,727,000. Northpointe Capital LLC bought a new stake in shares of Whitestone REIT during the 2nd quarter worth $3,906,000. Vanguard Group Inc. boosted its holdings in shares of Whitestone REIT by 8.0% during the 2nd quarter. Vanguard Group Inc. now owns 3,641,643 shares of the real estate investment trust’s stock worth $44,610,000 after buying an additional 269,793 shares during the period. Finally, Garner Asset Management Corp bought a new stake in shares of Whitestone REIT during the 2nd quarter worth $1,908,000. 43.77% of the stock is owned by institutional investors and hedge funds.
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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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