Whitestone REIT (WSR) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Whitestone REIT (NYSE:WSR) from a hold rating to a buy rating in a report released on Saturday morning, Zacks.com reports. They currently have $14.00 price target on the real estate investment trust’s stock.

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. “

Several other brokerages have also recently issued reports on WSR. Boenning Scattergood reaffirmed a buy rating on shares of Whitestone REIT in a research note on Friday, March 1st. TheStreet raised shares of Whitestone REIT from a c+ rating to a b- rating in a research note on Monday, February 4th. ValuEngine raised shares of Whitestone REIT from a hold rating to a buy rating in a research note on Tuesday, February 12th. Maxim Group reaffirmed a buy rating and issued a $16.00 price objective on shares of Whitestone REIT in a research note on Friday, May 3rd. Finally, B. Riley cut shares of Whitestone REIT from a buy rating to a neutral rating and lowered their price objective for the stock from $15.00 to $13.00 in a research note on Friday, March 1st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Whitestone REIT presently has a consensus rating of Buy and an average price target of $14.10.



Shares of WSR opened at $12.84 on Friday. The company has a market capitalization of $502.64 million, a PE ratio of 11.07 and a beta of 1.15. The company has a debt-to-equity ratio of 1.79, a quick ratio of 2.00 and a current ratio of 2.02. Whitestone REIT has a 12-month low of $11.40 and a 12-month high of $14.65.

Whitestone REIT (NYSE:WSR) last announced its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.15). The business had revenue of $29.69 million during the quarter, compared to analyst estimates of $31.20 million. Whitestone REIT had a return on equity of 5.90% and a net margin of 16.17%. As a group, research analysts forecast that Whitestone REIT will post 0.93 EPS for the current fiscal year.

The company also recently announced a monthly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Tuesday, June 4th will be given a $0.095 dividend. This represents a $1.14 annualized dividend and a dividend yield of 8.88%. The ex-dividend date of this dividend is Monday, June 3rd. Whitestone REIT’s dividend payout ratio (DPR) is currently 98.28%.

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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