State of New Jersey Common Pension Fund D acquired a new position in shares of Whitestone REIT (NYSE:WSR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 92,000 shares of the real estate investment trust’s stock, valued at approximately $1,148,000. State of New Jersey Common Pension Fund D owned about 0.23% of Whitestone REIT at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Millennium Management LLC acquired a new position in Whitestone REIT during the 4th quarter worth approximately $1,842,000. Deutsche Bank AG boosted its holdings in shares of Whitestone REIT by 209.8% in the 4th quarter. Deutsche Bank AG now owns 107,623 shares of the real estate investment trust’s stock valued at $1,549,000 after buying an additional 72,885 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Whitestone REIT by 21.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 208,126 shares of the real estate investment trust’s stock valued at $2,999,000 after buying an additional 37,133 shares during the last quarter. MetLife Investment Advisors LLC acquired a new stake in shares of Whitestone REIT in the 4th quarter valued at approximately $262,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of Whitestone REIT by 11.6% in the 4th quarter. Wells Fargo & Company MN now owns 127,932 shares of the real estate investment trust’s stock valued at $1,844,000 after buying an additional 13,254 shares during the last quarter. 50.20% of the stock is owned by institutional investors.
Several equities research analysts have issued reports on the company. Boenning Scattergood assumed coverage on Whitestone REIT in a report on Thursday, July 12th. They set a “buy” rating and a $13.50 price target for the company. Maxim Group reaffirmed a “buy” rating and set a $16.00 price target on shares of Whitestone REIT in a report on Tuesday, May 8th. ValuEngine upgraded Whitestone REIT from a “sell” rating to a “hold” rating in a research report on Wednesday, May 9th. Finally, Zacks Investment Research cut Whitestone REIT from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $13.42.
Whitestone REIT (NYSE:WSR) last released its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). Whitestone REIT had a net margin of 7.19% and a return on equity of 2.73%. The business had revenue of $33.07 million during the quarter, compared to analyst estimates of $33.21 million. analysts anticipate that Whitestone REIT will post 1.04 EPS for the current fiscal year.
The company also recently declared a dividend, which will be paid on Friday, September 14th. Stockholders of record on Tuesday, September 4th will be paid a dividend of $0.095 per share. The ex-dividend date is Friday, August 31st. Whitestone REIT’s payout ratio is 91.20%.
Whitestone REIT Profile
Whitestone is a community-centered retail REIT that acquires, owns, manages, develops and redevelops high quality "e-commerce resistant" neighborhood, community and lifestyle retail centers principally located in the largest, fastest-growing and most affluent markets in the Sunbelt. Whitestone's optimal mix of national, regional and local tenants provide daily necessities, needed services and entertainment to the communities in which they are located.
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