UPDATE: BMO Capital Markets Downgrades Whitestone REIT to Market Perform, Reiterates $16 PT
In a report published Friday, BMO Capital Markets downgraded its rating on Whitestone REIT (NYSE: WSR) from Outperform to Market Perform, and reiterated its $16.00 price target.
BMO Capital noted, “Since April 9, 2012, WSR's 9.7% total return has outperformed the REIT Index (RMS) by 450 bp. More recently, the stock has strengthened on the news of its inclusion in the REIT index. Given the recent move, we think further share price appreciation will be more directly linked to underlying fundamentals, including leasing of the portfolio and acquiring shopping centers accretively.”
Whitestone REIT closed on Thursday at $13.76.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.