Whitestone REIT (NYSE:WSR) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 892,300 shares, a growth of 13.9% from the September 30th total of 783,100 shares. Based on an average daily trading volume, of 212,300 shares, the days-to-cover ratio is presently 4.2 days. Currently, 2.5% of the shares of the stock are short sold.
Several research firms have recently commented on WSR. B. Riley set a $13.00 price target on shares of Whitestone REIT and gave the company a “hold” rating in a research report on Friday, August 2nd. Maxim Group set a $15.00 price target on shares of Whitestone REIT and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, Zacks Investment Research lowered shares of Whitestone REIT from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $14.33.
In related news, CEO James C. Mastandrea bought 10,000 shares of the stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $12.64 per share, for a total transaction of $126,400.00. Following the completion of the transaction, the chief executive officer now owns 1,027,250 shares of the company’s stock, valued at approximately $12,984,440. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.60% of the company’s stock.
Shares of WSR stock traded up $0.13 during trading hours on Friday, hitting $13.97. The company’s stock had a trading volume of 343,793 shares, compared to its average volume of 202,983. The business has a fifty day moving average of $13.79 and a 200-day moving average of $13.01. The stock has a market cap of $562.37 million, a price-to-earnings ratio of 12.81 and a beta of 1.01. Whitestone REIT has a twelve month low of $11.50 and a twelve month high of $14.65. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.87.
Whitestone REIT (NYSE:WSR) last announced its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.02). Whitestone REIT had a return on equity of 4.55% and a net margin of 13.75%. The firm had revenue of $29.88 million for the quarter, compared to analyst estimates of $29.99 million. On average, equities analysts expect that Whitestone REIT will post 0.93 EPS for the current fiscal year.
The company also recently announced a — dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, December 3rd will be given a dividend of $0.095 per share. The ex-dividend date is Monday, December 2nd. This represents a yield of 8.4%. Whitestone REIT’s dividend payout ratio (DPR) is currently 98.28%.
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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