Whitestone REIT (NYSE:WSR) saw a significant decline in short interest during the month of April. As of April 28th, there was short interest totalling 643,546 shares, a decline of 33.8% from the April 13th total of 972,223 shares. Based on an average trading volume of 1,251,070 shares, the days-to-cover ratio is currently 0.5 days. Approximately 1.8% of the company’s stock are sold short.
In other news, Director Paul T. Lambert purchased 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 7th. The stock was bought at an average price of $13.88 per share, for a total transaction of $34,700.00. Following the completion of the purchase, the director now directly owns 47,735 shares of the company’s stock, valued at $662,561.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.53% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Schnieders Capital Management LLC boosted its position in Whitestone REIT by 4.5% in the first quarter. Schnieders Capital Management LLC now owns 10,475 shares of the real estate investment trust’s stock worth $145,000 after buying an additional 450 shares in the last quarter. AE Wealth Management LLC bought a new position in Whitestone REIT during the first quarter worth $160,000. First Trust Advisors LP boosted its position in Whitestone REIT by 22.3% in the third quarter. First Trust Advisors LP now owns 13,265 shares of the real estate investment trust’s stock worth $184,000 after buying an additional 2,415 shares in the last quarter. Bank of Montreal Can boosted its position in Whitestone REIT by 21.4% in the first quarter. Bank of Montreal Can now owns 14,581 shares of the real estate investment trust’s stock worth $201,000 after buying an additional 2,570 shares in the last quarter. Finally, Numeric Investors LLC boosted its position in Whitestone REIT by 7.5% in the fourth quarter. Numeric Investors LLC now owns 14,400 shares of the real estate investment trust’s stock worth $207,000 after buying an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 43.27% of the company’s stock.
A number of brokerages recently issued reports on WSR. Robert W. Baird downgraded shares of Whitestone REIT from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $15.00 to $10.00 in a research note on Wednesday. Zacks Investment Research upgraded shares of Whitestone REIT from a “sell” rating to a “hold” rating in a research note on Saturday, May 13th. Finally, Maxim Group downgraded shares of Whitestone REIT from a “neutral” rating to an “underperform” rating in a research note on Thursday.
Whitestone REIT (NYSE:WSR) opened at 11.57 on Friday. The company has a 50-day moving average of $12.87 and a 200-day moving average of $13.48. Whitestone REIT has a 52 week low of $10.80 and a 52 week high of $16.30. The stock has a market cap of $440.31 million, a P/E ratio of 92.56 and a beta of 0.92.
Whitestone REIT (NYSE:WSR) last released its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.07. The firm had revenue of $28.27 million during the quarter, compared to analysts’ expectations of $28.03 million. Whitestone REIT had a return on equity of 3.83% and a net margin of 9.33%. On average, analysts predict that Whitestone REIT will post $0.29 EPS for the current fiscal year.
The business also recently declared a monthly dividend, which was paid on Thursday, May 11th. Shareholders of record on Wednesday, May 3rd were issued a $0.095 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 9.85%. The ex-dividend date was Monday, May 1st. Whitestone REIT’s dividend payout ratio is presently 345.47%.
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About Whitestone REIT
Whitestone REIT is a real estate investment trust. The Company is engaged in owning and operating commercial properties in culturally diverse markets in various metropolitan areas. The Company’s acquisition targets are located in densely populated, culturally diverse neighborhoods, primarily in and around Austin, Chicago, Dallas-Fort Worth, Houston, Phoenix and San Antonio.
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