State of New Jersey Common Pension Fund D Sells 20,000 Shares of Whitestone REIT (WSR)
State of New Jersey Common Pension Fund D decreased its holdings in shares of Whitestone REIT (NYSE:WSR) by 3.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 534,500 shares of the real estate investment trust’s stock after selling 20,000 shares during the period. State of New Jersey Common Pension Fund D owned about 1.39% of Whitestone REIT worth $6,975,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the business. Schnieders Capital Management LLC increased its stake in Whitestone REIT by 7.6% during the second quarter. Schnieders Capital Management LLC now owns 11,275 shares of the real estate investment trust’s stock valued at $138,000 after purchasing an additional 800 shares during the last quarter. HL Financial Services LLC increased its stake in Whitestone REIT by 3.4% during the second quarter. HL Financial Services LLC now owns 29,679 shares of the real estate investment trust’s stock valued at $364,000 after purchasing an additional 987 shares during the last quarter. Capital Investment Advisors LLC increased its stake in Whitestone REIT by 8.8% during the second quarter. Capital Investment Advisors LLC now owns 12,300 shares of the real estate investment trust’s stock valued at $151,000 after purchasing an additional 1,000 shares during the last quarter. American International Group Inc. increased its stake in Whitestone REIT by 7.3% during the first quarter. American International Group Inc. now owns 16,157 shares of the real estate investment trust’s stock valued at $224,000 after purchasing an additional 1,105 shares during the last quarter. Finally, Voya Investment Management LLC increased its stake in Whitestone REIT by 14.9% during the second quarter. Voya Investment Management LLC now owns 18,495 shares of the real estate investment trust’s stock valued at $227,000 after purchasing an additional 2,394 shares during the last quarter. Hedge funds and other institutional investors own 42.90% of the company’s stock.
WSR has been the subject of several recent research reports. FBR & Co reiterated an “outperform” rating and set a $14.00 target price on shares of Whitestone REIT in a research note on Tuesday, July 11th. ValuEngine upgraded shares of Whitestone REIT from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. Zacks Investment Research lowered shares of Whitestone REIT from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Ladenburg Thalmann Financial Services restated a “hold” rating on shares of Whitestone REIT in a research report on Friday, August 18th. Finally, BidaskClub upgraded shares of Whitestone REIT from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $14.67.
In related news, Director Paul T. Lambert bought 3,000 shares of Whitestone REIT stock in a transaction on Tuesday, August 29th. The shares were purchased at an average price of $12.29 per share, for a total transaction of $36,870.00. Following the completion of the acquisition, the director now owns 51,918 shares in the company, valued at $638,072.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.29% of the stock is owned by company insiders.
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Whitestone REIT (NYSE WSR) opened at 13.36 on Wednesday. Whitestone REIT has a 52-week low of $10.80 and a 52-week high of $14.78. The company has a market cap of $514.67 million, a price-to-earnings ratio of 92.78 and a beta of 0.94. The stock’s 50 day moving average is $13.29 and its 200 day moving average is $12.70.
Whitestone REIT (NYSE:WSR) last announced its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.05. Whitestone REIT had a return on equity of 1.69% and a net margin of 4.36%. The company had revenue of $30.20 million during the quarter, compared to analyst estimates of $30.68 million. During the same period last year, the company posted $0.32 earnings per share. The firm’s quarterly revenue was up 20.2% compared to the same quarter last year. On average, analysts predict that Whitestone REIT will post $0.28 earnings per share for the current fiscal year.
The company also recently disclosed a monthly dividend, which will be paid on Monday, November 13th. Investors of record on Friday, November 3rd will be given a $0.095 dividend. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $1.14 dividend on an annualized basis and a yield of 8.53%. Whitestone REIT’s payout ratio is 876.99%.
Whitestone REIT Company Profile
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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