Whitestone REIT (WSR) is Reiterated by Maxim Group to Buy, Raises Price Target to $ 20

Whitestone REIT (WSR) was Reiterated by Maxim Group to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 20 from a previous price target of $18.50 . Maxim Group advised their investors in a research report released on Jul 29, 2016.

On the company’s financial health, Whitestone REIT reported $0.32 EPS for the quarter, based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus estimate of $0.32. The company had revenue of $25.13 million for the quarter, compared to analysts expectations of $26.02 million. The company’s revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS.

Whitestone REIT closed down -0.125 points or -0.79% at $15.6 with 2,05,041 shares getting traded on Thursday. Post opening the session at $15.85, the shares hit an intraday low of $15.47 and an intraday high of $16.1 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

In a different news, on Nov 13, 2015, Paul T Lambert (director) purchased 3,000 shares at $11.74 per share price. According to the SEC, on Aug 25, 2015, John J Dee (COO) purchased 1,000 shares at $10.84 per share price. On Aug 10, 2015, James C Mastandrea (CEO) purchased 2,000 shares at $12.95 per share price, according to the Form-4 filing with the securities and exchange commission.

Whitestone REIT is a Real Estate Investment Trust (REIT). The Company is engaged in owning and operating commercial properties in diverse markets in metropolitan areas. As of December 31 2014 the Company owned a real estate portfolio of 63 properties containing approximately 5.5 million square feet of gross leasable area (GLA) located in Texas Arizona and Illinois. Its portfolio comprises 30 properties in Houston six properties in Dallas two properties in San Antonio 24 properties in the Scottsdale and Phoenix Arizona metropolitan areas and one property in Buffalo Grove Illinois a suburb of Chicago. Its tenants consist of national regional and local businesses. As of December 31 2014 it had approximately 1347 tenants. Its lease terms for its properties range from less than one year for smaller tenants to more than 15 years for larger tenants. Its primary business objective is to increase shareholder value by acquiring owning and operating Community Centered Properties.

Whitestone REIT

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