Zacks Investment Research Lowers Whitestone REIT (NYSE:WSR) to Sell

Zacks Investment Research lowered shares of Whitestone REIT (NYSE:WSR) from a hold rating to a sell rating in a research report released on Sunday morning, Zacks.com reports.

According to Zacks, “Whitestone REIT is a fully integrated real estate investment trust that acquires, owns, manages, develops and redevelops high quality internet-resistant neighborhood, community and lifestyle retail centers. Whitestone’s properties are principally located in Austin, Dallas-Fort Worth, Houston, San Antonio and Phoenix, which are among the fastest-growing markets in the country with highly educated workforces, high household incomes and strong job growth. The Company’s strategy is to target shifting consumer behavior and purchasing patterns by creating a complementary mix of grocery, dining, health and wellness, education, services, entertainment and specialty retail in its properties. Whitestone’s national, regional and local tenants provide daily necessities, needed services and convenience to the community which are not readily available online. Whitestone is headquartered in Houston, Texas. “

A number of other analysts have also recently commented on the company. B. Riley set a $13.00 price target on Whitestone REIT and gave the stock a hold rating in a research report on Friday, August 2nd. Maxim Group set a $15.00 price objective on Whitestone REIT and gave the stock a buy rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $14.00.

NYSE:WSR opened at $13.77 on Friday. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.75 and a quick ratio of 1.75. The firm has a market capitalization of $531.84 million, a price-to-earnings ratio of 11.87 and a beta of 1.03. Whitestone REIT has a one year low of $11.50 and a one year high of $14.65. The business has a fifty day moving average price of $12.58 and a 200-day moving average price of $12.53.

Whitestone REIT (NYSE:WSR) last announced its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.17). The company had revenue of $29.58 million during the quarter, compared to the consensus estimate of $30.16 million. Whitestone REIT had a return on equity of 6.19% and a net margin of 17.94%. On average, equities research analysts expect that Whitestone REIT will post 0.92 earnings per share for the current fiscal year.

In other news, CEO James C. Mastandrea purchased 10,000 shares of the company’s stock in a transaction on Friday, September 6th. The stock was acquired 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 directly owns 1,027,250 shares in the company, valued at approximately $12,984,440. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.60% of the stock is owned by insiders.

Whitestone REIT Company Profile

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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