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UPDATE: Hilliard Lyons Downgrades Whitestone REIT to Neutral Due to Price Appreciation

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Whitestone REIT Receives Approval of Additional Entitlements at Village Square at Dana Park Community Centered Property
Whitestone REIT Receives Approval of Additional Entitlements at Its Village Square at Dana Park Community Centered Property; Expansion Planned
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In a report published Wednesday, Hilliard Lyons analyst Carol L. Kemple downgraded the rating on Whitestone REIT (NYSE: WSR) from Long-Term Buy to Neutral.

In the report, Kemple noted, “First quarter Core FFO per share were $0.24, flat with the year ago period. Our FFO per share estimate was $0.28. Weighted average shares and units outstanding rose 39.3% from the year ago period. Total property revenue increased 33.0%. WSR completed one acquisition in the quarter. Headquarters Village was purchased for $25.7 million. The 89,134 square foot center was 100% occupied at quarter end. The acquisition pipeline remains very active for Whitestone. Currently, WSR has a property under contract for $21 million. There are in excess of $500 million of acquisitions in the pipeline.”

Whitestone REIT closed on Tuesday at $16.88.

Latest Ratings for WSR

DateFirmActionFromTo
Aug 2016BairdDowngradesOutperformNeutral
Jul 2016Hilliard LyonsDowngradesLong-term BuyNeutral
Dec 2015SunTrust Robinson HumphreyInitiates Coverage onNeutral

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Posted-In: Hilliard LyonsAnalyst Color Downgrades Analyst Ratings

 

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