UPDATE: Hilliard Lyons Downgrades Whitestone REIT to Long-Term Buy Following Share Appreciation

Hilliard Lyons downgraded Whitestone REIT (NYSE: WSR) from Buy to Long-term Buy and raised the price target from $15.00 to $16.50.

Hilliard Lyons analyst Carol L. Kemple noted, "Fourth quarter core FFO per share were $0.22 versus $0.25 in the year ago period. (Weighted average shares and units outstanding increased 39.3% from the year ago period.) Total property revenue increased 35.7%. We are lowering our 2013 core FFO per share estimate from $1.21 to $1.14. Our lowered estimate is based primarily on our lower rental rate assumptions."

Whitestone REIT closed at $15.01 on Wednesday.

(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.