Whitestone REIT (WSR) Releases Earnings Results, Beats Expectations By $0.07 EPS
Whitestone REIT (NYSE:WSR) posted its quarterly earnings results on Wednesday. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.07, Bloomberg Earnings reports. Whitestone REIT had a net margin of 4.36% and a return on equity of 1.69%. The company had revenue of $33.70 million during the quarter, compared to the consensus estimate of $32.78 million. During the same period last year, the firm earned $0.33 EPS. The company’s revenue for the quarter was up 32.2% on a year-over-year basis. Whitestone REIT updated its FY17 guidance to $1.29-$1.34 EPS.
The business also recently declared a monthly dividend, which will be paid on Monday, November 13th. Stockholders of record on Friday, November 3rd will be given a dividend of $0.095 per share. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 8.53%. Whitestone REIT’s payout ratio is 876.99%.
In related news, Director Paul T. Lambert acquired 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The stock was acquired at an average cost of $12.29 per share, for a total transaction of $36,870.00. Following the completion of the acquisition, the director now directly owns 51,918 shares of the company’s stock, valued at approximately $638,072.22. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 5.29% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Whitestone REIT from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. ValuEngine upgraded shares of Whitestone REIT from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. BidaskClub upgraded shares of Whitestone REIT from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of Whitestone REIT in a research report on Friday, August 18th. Finally, FBR & Co reiterated an “outperform” rating and set a $14.00 price target on shares of Whitestone REIT in a research report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Whitestone REIT presently has a consensus rating of “Buy” and an average price target of $14.67.
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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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