Brokerages forecast that Whitestone REIT (NYSE:WSR) will post sales of $33.75 million for the current quarter, Zacks reports. Three analysts have issued estimates for Whitestone REIT’s earnings, with estimates ranging from $33.17 million to $34.68 million. Whitestone REIT reported sales of $28.27 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 19.4%. The business is scheduled to report its next quarterly earnings results on Wednesday, May 2nd.
According to Zacks, analysts expect that Whitestone REIT will report full-year sales of $33.75 million for the current year, with estimates ranging from $135.20 million to $140.69 million. For the next financial year, analysts expect that the company will report sales of $143.28 million per share, with estimates ranging from $141.50 million to $145.49 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Whitestone REIT.
Whitestone REIT (NYSE:WSR) last announced its quarterly earnings data on Thursday, March 1st. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.22). The business had revenue of $33.83 million for the quarter, compared to analysts’ expectations of $33.59 million. Whitestone REIT had a net margin of 6.62% and a return on equity of 2.49%.
WSR has been the topic of several recent analyst reports. SunTrust Banks lowered shares of Whitestone REIT from a “hold” rating to a “sell” rating and set a $10.00 target price on the stock. in a report on Friday, March 2nd. B. Riley reiterated a “buy” rating and issued a $15.00 target price on shares of Whitestone REIT in a report on Tuesday, December 12th. ValuEngine lowered shares of Whitestone REIT from a “buy” rating to a “hold” rating in a report on Friday, March 2nd. Maxim Group decreased their target price on shares of Whitestone REIT from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Monday. Finally, Zacks Investment Research lowered shares of Whitestone REIT from a “hold” rating to a “sell” rating in a report on Wednesday, November 15th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Whitestone REIT currently has an average rating of “Hold” and a consensus price target of $12.60.
In related news, VP Christine J. Mastandrea acquired 2,500 shares of the firm’s stock in a transaction dated Monday, March 5th. The shares were purchased at an average cost of $10.65 per share, for a total transaction of $26,625.00. Following the acquisition, the vice president now owns 112,013 shares in the company, valued at approximately $1,192,938.45. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.29% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. We Are One Seven LLC acquired a new position in shares of Whitestone REIT in the 4th quarter worth approximately $241,000. MetLife Investment Advisors LLC acquired a new position in shares of Whitestone REIT in the 4th quarter worth approximately $262,000. Millennium Management LLC acquired a new position in shares of Whitestone REIT in the 4th quarter worth approximately $1,842,000. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Whitestone REIT by 277.1% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 13,200 shares of the real estate investment trust’s stock worth $190,000 after acquiring an additional 9,700 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Whitestone REIT by 21.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 208,126 shares of the real estate investment trust’s stock worth $2,999,000 after acquiring an additional 37,133 shares during the last quarter. Hedge funds and other institutional investors own 55.57% of the company’s stock.
Whitestone REIT (NYSE WSR) traded up $0.01 during trading hours on Wednesday, reaching $10.87. 77,281 shares of the company’s stock traded hands, compared to its average volume of 350,701. The company has a quick ratio of 0.82, a current ratio of 0.88 and a debt-to-equity ratio of 1.84. The firm has a market cap of $417.71, a price-to-earnings ratio of 8.45 and a beta of 0.94. Whitestone REIT has a 12 month low of $10.45 and a 12 month high of $15.15.
The business also recently disclosed a monthly dividend, which will be paid on Thursday, April 12th. Stockholders of record on Tuesday, April 3rd will be issued a $0.285 dividend. This is a positive change from Whitestone REIT’s previous monthly dividend of $0.10. This represents a $3.42 annualized dividend and a dividend yield of 31.46%. The ex-dividend date of this dividend is Monday, April 2nd. Whitestone REIT’s dividend payout ratio is currently 542.86%.
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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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