Bank of New York Mellon Corp boosted its position in shares of Whitestone Reit (NYSE:WSR) by 4.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 218,068 shares of the company’s stock after buying an additional 9,310 shares during the period. Bank of New York Mellon Corp owned 0.76% of Whitestone Reit worth $3,288,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. James Investment Research Inc. purchased a new stake in shares of Whitestone Reit during the second quarter worth approximately $425,000. State Street Corp boosted its stake in shares of Whitestone Reit by 7.4% in the first quarter. State Street Corp now owns 381,952 shares of the company’s stock worth $4,803,000 after buying an additional 26,326 shares during the period. AXA boosted its stake in shares of Whitestone Reit by 100.2% in the first quarter. AXA now owns 89,838 shares of the company’s stock worth $1,129,000 after buying an additional 44,968 shares during the period. Commonwealth Equity Services Inc boosted its stake in shares of Whitestone Reit by 3.3% in the first quarter. Commonwealth Equity Services Inc now owns 33,007 shares of the company’s stock worth $415,000 after buying an additional 1,058 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Whitestone Reit by 0.8% in the first quarter. Geode Capital Management LLC now owns 154,346 shares of the company’s stock worth $1,940,000 after buying an additional 1,206 shares during the period. 42.44% of the stock is owned by hedge funds and other institutional investors.
Shares of Whitestone Reit (NYSE:WSR) traded down 1.35% on Friday, hitting $13.88. The company had a trading volume of 144,554 shares. The firm’s 50 day moving average price is $14.45 and its 200-day moving average price is $14.12. The stock has a market capitalization of $396.80 million, a PE ratio of 40.70 and a beta of 0.81. Whitestone Reit has a 52 week low of $9.44 and a 52 week high of $16.30.
Whitestone Reit (NYSE:WSR) last issued its earnings results on Wednesday, July 27th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by $0.02. The company had revenue of $25.13 million for the quarter, compared to analysts’ expectations of $26.04 million. Whitestone Reit had a net margin of 10.03% and a return on equity of 4.11%. The company’s revenue was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.35 earnings per share. Analysts forecast that Whitestone Reit will post $1.35 earnings per share for the current fiscal year.
The firm also recently declared a monthly dividend, which will be paid on Wednesday, October 12th. Shareholders of record on Monday, October 3rd will be given a dividend of $0.095 per share. This represents a $1.14 dividend on an annualized basis and a yield of 8.21%. The ex-dividend date is Thursday, September 29th. Whitestone Reit’s payout ratio is 325.71%.
WSR has been the subject of a number of research reports. Zacks Investment Research cut Whitestone Reit from a “hold” rating to a “sell” rating in a research note on Wednesday, July 20th. Robert W. Baird cut Whitestone Reit from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $16.00 to $15.00 in a research note on Friday, August 19th. Hilliard Lyons cut Whitestone Reit from a “buy” rating to a “neutral” rating in a research note on Thursday, July 14th. Finally, Maxim Group raised their price objective on Whitestone Reit from $18.50 to $20.00 and gave the company a “buy” rating in a research note on Friday, July 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Whitestone Reit has an average rating of “Hold” and an average target price of $15.63.
In other Whitestone Reit news, VP Christine J. Mastandrea purchased 2,000 shares of the stock in a transaction on Friday, August 19th. The stock was acquired at an average price of $14.56 per share, with a total value of $29,120.00. Following the transaction, the vice president now directly owns 79,507 shares of the company’s stock, valued at approximately $1,157,621.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.53% of the company’s stock.
About Whitestone Reit
Whitestone REIT is a self-managed, real estate investment trust (REIT) that owns, manages and redevelops a portfolio of neighborhood, community and lifestyle retail centers. The Company’s strategy is to cater to shifting consumer behavior and purchasing patterns by creating an optimal mix of tenants who provide convenience and services and necessities to the community which are not readily available online.
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