Zacks Investment Research Downgrades Whitestone REIT (NYSE:WSR) to Hold

Whitestone REIT (NYSE:WSR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Saturday, 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. “

WSR has been the subject of a number of other research reports. Maxim Group set a $15.00 target price on Whitestone REIT and gave the stock a “buy” rating in a report on Monday, August 12th. B. Riley set a $13.00 target price on Whitestone REIT and gave the stock a “hold” rating in a report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $14.33.

Shares of Whitestone REIT stock traded down $0.03 during trading on Friday, reaching $13.72. 152,744 shares of the company’s stock were exchanged, compared to its average volume of 269,923. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.75 and a current ratio of 1.55. Whitestone REIT has a 1-year low of $11.50 and a 1-year high of $14.65. The company has a market cap of $573.34 million, a P/E ratio of 11.83 and a beta of 1.01. The firm’s 50-day moving average price is $13.75 and its 200 day moving average price is $12.96.

Whitestone REIT (NYSE:WSR) last posted its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). Whitestone REIT had a return on equity of 4.55% and a net margin of 13.75%. The business had revenue of $29.88 million for the quarter, compared to analyst estimates of $29.99 million. As a group, equities research analysts predict that Whitestone REIT will post 0.93 EPS for the current year.

In related news, CEO James C. Mastandrea purchased 10,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $12.64 per share, with a total value of $126,400.00. Following the completion of the purchase, the chief executive officer now owns 1,027,250 shares in the company, valued at approximately $12,984,440. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.60% of the company’s stock.

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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