Whitestone REIT (WSR) Expected to Announce Earnings of $0.30 Per Share

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Brokerages forecast that Whitestone REIT (NYSE:WSR) will post earnings per share of $0.30 for the current quarter, according to Zacks. Three analysts have issued estimates for Whitestone REIT’s earnings, with estimates ranging from $0.29 to $0.31. Whitestone REIT reported earnings per share of $0.33 during the same quarter last year, which suggests a negative year-over-year growth rate of 9.1%. The company is scheduled to issue its next earnings results on Wednesday, November 7th.

According to Zacks, analysts expect that Whitestone REIT will report full-year earnings of $1.21 per share for the current financial year, with EPS estimates ranging from $1.19 to $1.23. For the next year, analysts expect that the business will report earnings of $1.21 per share, with EPS estimates ranging from $1.14 to $1.30. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that follow Whitestone REIT.

Whitestone REIT (NYSE:WSR) last posted its earnings results on Wednesday, August 1st. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.03). Whitestone REIT had a return on equity of 2.73% and a net margin of 7.19%. The firm had revenue of $33.07 million for the quarter, compared to analyst estimates of $33.21 million.

A number of research firms have recently weighed in on WSR. Zacks Investment Research raised Whitestone REIT from a “sell” rating to a “strong-buy” rating and set a $15.00 target price for the company in a report on Thursday. ValuEngine downgraded Whitestone REIT from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Maxim Group reissued a “buy” rating and set a $16.00 target price on shares of Whitestone REIT in a report on Tuesday, May 8th. Finally, Boenning Scattergood started coverage on Whitestone REIT in a research report on Thursday, July 12th. They issued a “buy” rating and a $13.50 price target on the stock. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $13.42.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Great West Life Assurance Co. Can bought a new position in shares of Whitestone REIT in the second quarter worth $623,000. Dimensional Fund Advisors LP bought a new position in shares of Whitestone REIT in the second quarter worth $7,110,000. Legal & General Group Plc bought a new position in shares of Whitestone REIT in the second quarter worth $984,000. Ridgewood Investments LLC bought a new position in shares of Whitestone REIT in the second quarter worth $775,000. Finally, BlackRock Inc. bought a new position in shares of Whitestone REIT in the second quarter worth $70,760,000. Institutional investors own 50.58% of the company’s stock.

Shares of WSR remained flat at $$12.94 during midday trading on Tuesday. The stock had a trading volume of 191,203 shares, compared to its average volume of 227,668. Whitestone REIT has a 12 month low of $10.06 and a 12 month high of $15.15. The company has a quick ratio of 1.13, a current ratio of 0.82 and a debt-to-equity ratio of 1.93. The firm has a market capitalization of $514.94 million, a P/E ratio of 10.52 and a beta of 1.06.

The business also recently declared a dividend, which will be paid on Tuesday, August 14th. Investors of record on Thursday, August 2nd will be given a $0.095 dividend. The ex-dividend date is Wednesday, August 1st. Whitestone REIT’s payout ratio is currently 91.20%.

About Whitestone REIT

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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