State Board of Administration of Florida Retirement System raised its stake in shares of Whitestone Reit (NYSE:WSR) by 5.9% during the second quarter, Holdings Channel reports. The institutional investor owned 15,597 shares of the company’s stock after buying an additional 868 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.05% of Whitestone Reit worth $235,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in WSR. Calvert Investment Management Inc. purchased a new position in shares of Whitestone Reit during the second quarter worth $1,921,000. Wedge Capital Management L L P NC raised its position in shares of Whitestone Reit by 94.6% in the second quarter. Wedge Capital Management L L P NC now owns 176,498 shares of the company’s stock worth $7,575,000 after buying an additional 85,798 shares during the period. Emerald Acquisition Ltd. purchased a new position in shares of Whitestone Reit during the second quarter worth $869,000. AXA raised its position 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. Finally, California Public Employees Retirement System raised its position in shares of Whitestone Reit by 216.2% in the second quarter. California Public Employees Retirement System now owns 62,300 shares of the company’s stock worth $940,000 after buying an additional 42,600 shares during the period. Hedge funds and other institutional investors own 42.43% of the company’s stock.
Shares of Whitestone Reit (NYSE:WSR) traded up 0.61% during midday trading on Monday, hitting $13.28. The company’s stock had a trading volume of 18,645 shares. Whitestone Reit has a 52-week low of $9.44 and a 52-week high of $16.30. The stock’s 50 day moving average is $13.89 and its 200-day moving average is $14.18. The firm has a market cap of $379.65 million, a P/E ratio of 38.94 and a beta of 0.85.
Whitestone Reit (NYSE:WSR) last announced its earnings results on Wednesday, July 27th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by $0.02. Whitestone Reit had a return on equity of 4.11% and a net margin of 10.03%. The business earned $25.13 million during the quarter, compared to analysts’ expectations of $26.04 million. During the same quarter in the previous year, the firm earned $0.35 EPS. Whitestone Reit’s quarterly revenue was up 14.4% on a year-over-year basis. Equities analysts predict that Whitestone Reit will post $1.35 EPS for the current fiscal year.
The firm also recently announced a monthly dividend, which was paid on Wednesday, October 12th. Stockholders of record on Monday, October 3rd were paid a $0.095 dividend. The ex-dividend date was Thursday, September 29th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 8.64%. Whitestone Reit’s payout ratio is presently 325.71%.
A number of equities analysts have commented on the company. Zacks Investment Research lowered Whitestone Reit from a “hold” rating to a “sell” rating in a research note on Thursday, August 25th. Robert W. Baird lowered Whitestone Reit from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $16.00 to $15.00 in a research note on Friday, August 19th. Maxim Group raised their price objective on Whitestone Reit from $18.50 to $20.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Finally, Hilliard Lyons lowered Whitestone Reit from a “buy” rating to a “neutral” rating in a research note on Thursday, July 14th. One equities 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 currently has an average rating of “Hold” and a consensus price target of $15.63.
In other Whitestone Reit news, VP Christine J. Mastandrea bought 2,000 shares of the business’s stock in a transaction dated Friday, August 19th. The shares were purchased at an average price of $14.56 per share, for a total transaction of $29,120.00. Following the purchase, the vice president now directly owns 79,507 shares of the company’s stock, valued at $1,157,621.92. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 5.53% of the stock is owned by insiders.
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.