Analysts forecast that Whitestone REIT (NYSE:WSR) will announce $33.72 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Whitestone REIT’s earnings, with the lowest sales estimate coming in at $33.64 million and the highest estimate coming in at $33.80 million. Whitestone REIT posted sales of $30.21 million during the same quarter last year, which would indicate a positive year over year growth rate of 11.6%. The business is scheduled to issue its next quarterly earnings report on Wednesday, August 1st.
According to Zacks, analysts expect that Whitestone REIT will report full year sales of $135.42 million for the current fiscal year, with estimates ranging from $135.20 million to $135.64 million. For the next year, analysts forecast that the company will post sales of $141.11 million per share, with estimates ranging from $140.72 million to $141.50 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Whitestone REIT.
Whitestone REIT (NYSE:WSR) last issued 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 Thomson Reuters’ consensus estimate of $0.27 by ($0.22). Whitestone REIT had a net margin of 7.56% and a return on equity of 2.78%. The business had revenue of $33.83 million during the quarter, compared to the consensus estimate of $33.59 million.
Several equities analysts have issued reports on the company. ValuEngine upgraded Whitestone REIT from a “sell” rating to a “hold” rating in a research report on Wednesday, May 9th. Maxim Group reissued a “buy” rating and issued a $16.00 target price on shares of Whitestone REIT in a research note on Tuesday, May 8th. Zacks Investment Research raised Whitestone REIT from a “sell” rating to a “hold” rating in a research note on Saturday, May 5th. JMP Securities lowered their target price on Whitestone REIT from $15.00 to $13.00 and set a “market outperform” rating for the company in a research note on Thursday, March 29th. Finally, B. Riley set a $13.00 target price on Whitestone REIT and gave the company a “buy” rating in a research note on Monday, March 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Whitestone REIT presently has an average rating of “Buy” and a consensus target price of $13.20.
In other news, VP Christine J. Mastandrea bought 2,500 shares of the stock in a transaction dated Monday, March 5th. The stock was bought at an average cost of $10.65 per share, with a total value of $26,625.00. Following the purchase, the vice president now owns 112,013 shares of the company’s stock, valued at $1,192,938.45. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 5.29% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in WSR. BlackRock Inc. grew its stake in shares of Whitestone REIT by 42.7% during the fourth quarter. BlackRock Inc. now owns 5,291,789 shares of the real estate investment trust’s stock worth $76,255,000 after purchasing an additional 1,584,004 shares during the period. LDR Capital Management LLC acquired a new stake in shares of Whitestone REIT during the fourth quarter worth $3,843,000. Millennium Management LLC acquired a new stake in shares of Whitestone REIT during the fourth quarter worth $1,842,000. Deutsche Bank AG grew its stake in shares of Whitestone REIT by 209.8% during the fourth quarter. Deutsche Bank AG now owns 107,623 shares of the real estate investment trust’s stock worth $1,549,000 after purchasing an additional 72,885 shares during the period. Finally, Swiss National Bank acquired a new stake in shares of Whitestone REIT during the fourth quarter worth $947,000. 53.83% of the stock is owned by institutional investors and hedge funds.
Whitestone REIT traded up $0.28, hitting $11.72, during trading on Monday, according to Marketbeat Ratings. The company’s stock had a trading volume of 1,172,885 shares, compared to its average volume of 374,247. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.13 and a current ratio of 1.13. Whitestone REIT has a 12 month low of $10.06 and a 12 month high of $15.15. The company has a market cap of $455.25 million, a price-to-earnings ratio of 9.15 and a beta of 1.01.
The company also recently announced a monthly dividend, which will be paid on Wednesday, June 13th. Stockholders of record on Monday, June 4th will be paid a $0.095 dividend. The ex-dividend date is Friday, June 1st. This represents a $1.14 annualized dividend and a dividend yield of 9.73%. Whitestone REIT’s dividend payout ratio (DPR) is currently 91.20%.
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 mix of national, regional and local tenants provides daily necessities, needed services and entertainment not typically readily available online to their respective communities.
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