Whitestone REIT (NYSE:WSR) Stock, Quote.Headers.trade-ideas

Whitestone REIT

Whitestone REIT is a real estate investment trust (REIT) engaged in owning and operating commercial properties in culturally diverse markets in metropolitan areas. Its property portfolio includes retail and office/flex properties. The company's properties are located in business-friendly locations in and around Austin, Chicago, Dallas-Fort Worth, Houston, Phoenix, and San Antonio. The organization derives revenue in the form of rental revenues.

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Methanex, Merck And Other Big Stocks Moving Lower In Monday&#39;s Pre-Market Session

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JMP Securities analyst Mitch Germain reiterates Whitestone REIT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSR#NYSE">WSR</a>) with a Market Outperform and maintains $15 price target.

Price Target

Reiteration

Analyst Ratings

JMP Securities Reiterates Market Outperform on Whitestone REIT, Maintains $15 Price Target

U.S. stock futures were higher this morning, with the Nasdaq futures gaining around 150 points on Monday.
Shares of Methanex Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEOH#NASDAQ">MEOH</a>) fell sharply in today's <a href="https://www.benzinga.com/markets/equities/24/09/40769930/methanex-to-buy-ocis-international-methanol-business-for-2-05b-details">pre-market trading.</a>
Methanex disclosed that it has entered into a definitive agreement to acquire OCI Global‘s international methanol business for $2.05 billion.
Methanex shares tumbled 6.3% to $39.79 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>C4 Therapeutics, Inc.. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CCCC#NASDAQ">CCCC</a>) shares dipped 17% to $4.48 in pre-market trading. C4 Therapeutics will reveal preliminary CFT1946 monotherapy Phase 1 clinical data at ESMO Congress 2024.</li>
<li>Lotus Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOT#NASDAQ">LOT</a>) shares fell 5.4% to $4.90 in pre-market trading after gaining around 6% on Friday.</li>
<li>Merck &amp; Co., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>) fell 4.8% to $112.23 in pre-market trading. Daiichi Sankyo and Merck&#8217;s Ifinatamab Deruxtecan showed response rates in extensive-stage small cell lung cancer in Phase 2 IDeate-Lung01 trial.</li>
<li>Mercer International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MERC#NASDAQ">MERC</a>) shares declined 3.2% to $5.50 in pre-market trading. Adient will replace Mercer International in the S&amp;P SmallCap 600.</li>
<li>Whitestone REIT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSR#NYSE">WSR</a>) shares fell 3.1% to $12.68 in pre-market trading.</li>
<li>QXO, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QXO#NASDAQ">QXO</a>) fell 2.3% to $13.97 in pre-market trading after gaining over 4% on Friday.</li>
<li>Emergent BioSolutions Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EBS#NYSE">EBS</a>) shares slipped 2.3% to $7.34 in pre-market trading.</li>
</ul>
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Methanex, Merck And Other Big Stocks Moving Lower In Monday's Pre-Market Session

Truist Securities analyst Anthony Hau maintains Whitestone REIT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSR#NYSE">WSR</a>) with a Buy and raises the price target from $14 to $15.

Truist Securities Maintains Buy on Whitestone REIT, Raises Price Target to $15

Guidance

Whitestone REIT Sees Q2 Core FFO $0.98-$1.04

Whitestone REIT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSR#NYSE">WSR</a>) reported quarterly earnings of $0.22 per share which missed the analyst consensus estimate of $0.24 by 8.33 percent. The company reported quarterly sales of $37.647 million which missed the analyst consensus estimate of $37.657 million by 0.03 percent. This is a 3.26 percent increase over sales of $36.460 million the same period last year.

Earnings

Earnings Misses

Whitestone REIT Q2 2024 FFO $0.22 Misses $0.24 Estimate, Sales $37.647M Miss $37.657M Estimate

As of May 31, 2024, four stocks in the real estate sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">AMREP Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXR#NYSE">AXR</a>)</h3>
<ul>
<li>On March 8, AMREP reported earnings of 2 cents per share for its 2024 fiscal third quarter, versus year-ago earnings of $3.12 per share. The company's stock gained around 6% over the past five days and has a <a href="https://www.benzinga.com/quote/AXR">52-week high of $24.36</a>.</li>
<li>RSI Value: 72.82&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>AXR Price Action: Shares of AMREP rose 3.4% to close at $21.20 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">Apartment Income REIT Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIRC#NYSE">AIRC</a>)</h3>
<ul>
<li>On April 8, Apartment Income REIT announced it will be taken private by Blackstone for roughly $10 billion. Blackstone Real Estate Partners X entered into a definitive agreement to acquire AIR Communities in an all-cash transaction valued at about $10 billion, including the assumption of debt. The company's stock <a href="https://www.benzinga.com/quote/AIRC">has a 52-week high</a> of $38.84.</li>
<li>RSI Value: 72.45</li>
<li>AIRC Price Action: Shares of Apartment Income REIT fell 0.03% to close at $38.70 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">Latam Logistic Properties, S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPA#NYSE">LPA</a>)</h3>
<ul>
<li>On May 13, Logistic Properties Of The Americas named Annette Fernandez as COO and Paul Smith as CFO. The company's stock gained around 2,297% over the past five days and has a <a href="https://www.benzinga.com/quote/LPA">52-week high</a> of $258.85.</li>
<li>RSI Value: 98.83</li>
<li>LPA Price Action: Shares of Latam Logistic Properties jumped 684% to close at $258.85 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">Whitestone REIT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSR#NYSE">WSR</a>)</h3>
<ul>
<li>On May 14, Whitestone REIT announced preliminary results of 2024 Annual Meeting of shareholders. The company's stock jumped around 13% over the past month and has a 52-week high is $13.12.</li>
<li>RSI Value: 70.35</li>
<li>WSR Price Action: Shares of Whitestone REIT rose 0.9% to close at $12.96 on Thursday.</li>
</ul>
Read More: <a href="https://www.benzinga.com/news/earnings/24/05/39104172/dell-asana-and-3-stocks-to-watch-heading-into-friday">Dell, Asana And 3 Stocks To Watch Heading Into Friday</a>

Whitestone REIT Sees FY24 Core FFO $0.98-$1.04 Vs $1.01 Est.

Whitestone REIT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSR#NYSE">WSR</a>) reported quarterly earnings of $0.23 per share which missed the analyst consensus estimate of $0.24 by 4.17 percent. This is a 4.17 percent decrease over earnings of $0.24 per share from the same period last year. The company reported quarterly sales of $37.164 million which missed the analyst consensus estimate of $37.558 million by 1.05 percent. This is a 3.66 percent increase over sales of $35.851 million the same period last year.

Whitestone REIT Q1 2024 FFO $0.23 Misses $0.24 Estimate, Sales $37.164M Miss $37.558M Estimate

In the preceding three months, 4 analysts have released ratings for Whitestone REIT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSR#NYSE">WSR</a>), presenting a wide array of perspectives from bullish to bearish.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $15.0, a high estimate of $15.00, and a low estimate of $15.00. Marking an increase of 15.38%, the current average surpasses the previous average price target of $13.00. 
<img src="https://www.benzinga.com/files/images/story/2024/1712768414_0.png" alt="price target chart" />
<h2>Investigating Analyst Ratings: An Elaborate Study</h2>
The analysis of recent analyst actions sheds light on the perception of Whitestone REIT by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Mitch Germain</td>
<td>JMP Securities</td>
<td>Maintains</td>
<td>Market Outperform</td>
<td>$15.00</td>
<td>-</td>
</tr>
<tr>
<td>Gaurav Mehta</td>
<td>Alliance Global Partners</td>
<td>Announces</td>
<td>Buy</td>
<td>$15.00</td>
<td>-</td>
</tr>
<tr>
<td>Mitch Germain</td>
<td>JMP Securities</td>
<td>Maintains</td>
<td>Market Outperform</td>
<td>$15.00</td>
<td>-</td>
</tr>
<tr>
<td>Mitch Germain</td>
<td>JMP Securities</td>
<td>Raises</td>
<td>Market Outperform</td>
<td>$15.00</td>
<td>$13.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Whitestone REIT. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Whitestone REIT compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Whitestone REIT's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Whitestone REIT's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/WSR/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Whitestone REIT analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>All You Need to Know About Whitestone REIT</h2>
Whitestone REIT is a real estate investment trust (REIT) engaged in owning and operating commercial properties in culturally diverse markets in metropolitan areas. Its property portfolio includes retail and office/flex properties. The company's properties are located in business-friendly locations in and around Austin, Chicago, Dallas-Fort Worth, Houston, Phoenix, and San Antonio. The organization derives revenue in the form of rental revenues.
<h3>Whitestone REIT: Delving into Financials</h3>
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: Over the 3 months period, Whitestone REIT showcased positive performance, achieving a revenue growth rate of 5.84% as of 31 December, 2023. This reflects a substantial increase in the company's top-line earnings. When compared to others in the Real Estate sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Whitestone REIT's net margin falls below industry averages, indicating challenges in achieving strong profitability. With a net margin of 4.11%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Whitestone REIT's ROE falls below industry averages, indicating challenges in efficiently using equity capital. With an ROE of 0.37%, the company may face hurdles in generating optimal returns for shareholders.
Return on Assets (ROA): Whitestone REIT's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of 0.14%, the company may face hurdles in achieving optimal financial performance.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 1.55.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Analyst Landscape: 4 Takes On Whitestone REIT

Whitestone REIT Acquires Scottsdale Commons For $22.2M

Whitestone REIT Acquires Scottsdale Commons Center For $22M; Acquisition Is Funded Through Whitestone's Capital Recycling Program

For investors seeking a steady stream of monthly income, real estate investment trusts (REITs) that pay dividends on a monthly basis emerge as a compelling financial strategy. Let's check out two with yields up to 7.2%.
<h2 class="wp-block-heading">Whitestone REIT</h2>
Whitestone REIT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSR#NYSE">WSR</a>) owns and manages a portfolio of 55 open-air retail centers containing approximately five million square feet of gross leasable area in some of the fastest growing markets in the U.S., including Phoenix, Austin, Dallas-Fort Worth, Houston, and San Antonio.
Whitestone currently pays a monthly dividend of $0.04125 per share, equating to an annual dividend of $0.495 per share, which gives its stock a yield of about 4.2% at the time of this writing.
In addition to offering a high yield, Whitestone has a track record of raising its dividend. It has raised its dividend each of the last two years, and its 3% hike in March has it on track for 2024 to mark the third consecutive year with an increase.
<h2 class="wp-block-heading">Don't Miss:</h2>
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<li>Elon Musk Is Bullish On Austin. Here&#8217;s <a href="https://www.benzinga.com/go/musk-austin">How To Invest In The City&#8217;s Growth Before He Floods It With New Tech Workers</a>.</li>
</ul>
<h2 class="wp-block-heading">LTC Properties</h2>
LTC Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LTC#NYSE">LTC</a>) is a REIT that invests primarily in senior housing and healthcare properties. Its portfolio consists of 202 properties, including 124 assisted living facilities and 77 skilled nursing facilities, across 26 states with 29 operating partners as of December 31, 2023.
LTC currently pays a monthly dividend of $0.19 per share, equating to an annualized dividend of $2.28 per share, which gives its stock a yield of about 7.2% at the time of this writing.&nbsp;
LTC has maintained its current monthly dividend rate since October 2016, which means investors should consider it a reliable source of income.
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Image Credit: Shutterstock

In a positive development for investors, two real estate investment trusts (REITs) recently announced dividend increases. This signals potential opportunities in the real estate market, as these companies strive to deliver enhanced returns to their shareholders.&nbsp;
Let&#8217;s check out each dividend raiser to see if there's a spot for one or both in your portfolio.
<h2 class="wp-block-heading">Whitestone REIT</h2>
Whitestone REIT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSR#NYSE">WSR</a>) owns and manages a portfolio of open-air, retail centers in some of the fastest growing markets in the U.S., including Phoenix, Austin, Dallas-Fort Worth, Houston, and San Antonio. As of its most <a href="https://s27.q4cdn.com/923454130/files/doc_presentations/2024/Mar/06/earnings-slides-3-6-24-final.pdf">recent investor presentation</a>, its portfolio consists of 55 properties totaling approximately 5.0 million square feet of gross leasable area.
On March 5, Whitestone announced <a href="https://ir.whitestonereit.com/news-and-events/news/news-details/2024/Whitestone-REIT-Increases-Annual-Cash-Dividend-by-3/default.aspx">a 3% increase</a> to its annual dividend. The company will now pay a monthly dividend of $0.04125 per share, equating to an annual dividend of $0.495 per share and giving its stock a yield of about 4.15% at the time of this writing.
It's important to note that this dividend increase puts Whitestone on track for 2024 to mark the third consecutive year in which it has raised its annual dividend payment following a reduction in its dividend in 2020 as a result of the Covid-19 pandemic.
<h2 class="wp-block-heading">Don't Miss:</h2>
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<li>Commercial real estate has historically outperformed the stock market, but few investors have the capital or resources needed to invest in this asset class. A platform backed by industry giant Marcus &amp; Millichap is changing that, <a href="https://www.benzinga.com/go/marcus-millichap-backed-platform">allowing individuals to invest in commercial real estate with as little as $5,000.</a></li>
</ul>
<h2 class="wp-block-heading">EPR Properties</h2>
EPR Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EPR#NYSE">EPR</a>) is a leading owner and manager of experiential real estate. Its portfolio currently consists of <a href="https://eprkc.com/who-we-are/about-epr/">359</a> entertainment, recreation, education, and leisure properties, including movie theaters, golf ranges, waterparks, amusement parks, fitness centers, private schools, and early childhood education centers.
In its <a href="https://investors.eprkc.com/news-center/news-details/2024/EPR-Properties-Reports-Fourth-Quarter-and-2023-Year-End-Results/default.aspx">fourth-quarter earnings release</a> on February 28, EPR announced a 3.6% increase to its monthly dividend. The company now pays a monthly dividend of $0.285 per share, equating to an annualized dividend of $3.42 per share and giving its stock a yield of about 8.3% at the time of this writing.
Like Whitestone, EPR faced issues during the Covid-19 pandemic. Rather than cutting its dividend, EPR suspended it for a short period of time. However, it's now back to normal operations, and is on track for 2024 to mark the third consecutive year in which it has raised its annual dividend payment.
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</ul>
Image Credit: Shutterstock<a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate"></a>

These Monthly Income Stocks Just Raised Their Dividends and Now Have Yields Up to 8.3%

Alliance Global Partners analyst Gaurav Mehta initiates coverage on Whitestone REIT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSR#NYSE">WSR</a>) with a Buy rating and announces Price Target of $15.

Initiation

Alliance Global Partners Initiates Coverage On Whitestone REIT with Buy Rating, Announces Price Target of $15

Investors who purchase real estate investment trusts (REITs) often do so for the income that most REITs produce in the form of monthly or quarterly dividends. When REITs announce dividend increases, investors either celebrate a raise in annual income or a chance to reinvest in an increased number of shares of the stock.
In addition to these increases, dividend raises signify a REIT's belief in its ability to continue generating strong revenue and earnings that allow it to continue providing shareholders with steady income. Often the dividend increase announcements are made simultaneously with the earnings report, or shortly before the report is released. Dividend increase announcements made right before earnings announcements often portend a strong report. Dividend increases frequently lead to share price appreciation as well. This gives REIT investors two sources of gains.
Over the past few weeks, several REITs have hiked the monthly or quarterly dividends paid. Take a look at four of them that have announced dividend increases, along with other positive news.&nbsp;
Whitestone REIT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSR#NYSE">WSR</a>) is a Houston, Texas-based retail REIT that owns, operates and develops open-air retail centers in fast-growing Sun Belt markets. Whitestone owns 50 properties in Texas and Arizona. Whitestone's tenants are mostly service-oriented businesses, such as restaurants, health and fitness centers, financial services and grocery stores. At the end of the third quarter of 2023, Whitestone had a 92.7% occupancy rate.
On Feb. 21, Whitestone REIT announced it had acquired the 107,000-square-foot grocery-anchored Garden Oaks Shopping Center, in Houston. The center is 96% occupied.
On March 5, Whitestone announced a 3% increase in its monthly dividend from $0.04 per share to $0.04125 per share. The new annual dividend of $0.495 per share yields 4.02%. The dividend will be paid on April 11 to shareholders as of April 2.&nbsp;
Whitestone will announce its fourth-quarter 2023 operating results after the market closes on March 6.
EPR Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EPR#NYSE">EPR</a>) is a Kansas City, Missouri-based diversified experiential REIT that owns and operates 359 locations, including movie theater chains, amusement parks, ski resorts, fitness centers and other recreational venues with 200 tenants across 44 states. It also owns 71 early childhood education centers and nine private schools.
On Feb. 28, EPR Properties reported its fourth-quarter operating results. Funds from operations (FFO) of $1.18 per share beat the consensus estimate of $1.16 per share and revenue of $171.98 million also beat the consensus estimate of $150.41 million.
Simultaneously, EPR Properties announced an increase in its monthly dividend from $0.275 to $0.285 per share, payable on March 15 to shareholders of record on Feb. 29. The annual dividend of $3.30 per share yields 7.85%.
Essex Property Trust Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>) is a San Mateo, California-based residential REIT that acquires, develops and manages multifamily apartment communities on the West Coast of the U.S. As of March 1, its portfolio includes 252 apartment communities, with approximately 62,000 apartments in eight California and Washington state markets.
Essex was founded in 1971 and had its initial public offering IPO in 1994 at $19.50 per share. It's been a member of the S&amp;P 500 since 2014 and is an S&amp;P Dividend Aristocrat with 30 years of increasing cash dividends.
On Feb. 6, Essex Property Trust released its fourth-quarter operating results. FFO of $3.83 per share beat the estimate of $3.81 as well as fourth-quarter 2022 FFO of $3.77 per share. Revenue of $418.95 million was just below the estimate of&nbsp; $419.69 million but surpassed the fourth-quarter 2022 revenue of $412.36 million.
On Feb. 22, Essex Property Trust announced its board approved a 6.1% increase in its annual cash dividend, the 30th consecutive annual dividend increase. The first quarter dividend of $2.45 per share is payable on April 12 to shareholders of record as of March 29. The annualized dividend of $9.80 per share presently yields 4%.
On Feb. 28, Mizuho analyst Vikram Malhorta upgraded Essex Property Trust from Neutral to Buy, while lowering the price target from $255 to $250. Two days earlier, Morgan Stanley analyst Adam Kramer maintained Essex Property Trust with an Equal-Weight rating and raised the price target from $227 to $230.
Essex has bounced from $225.40 on Feb. 26 to a recent price of $245.08.
Centerspace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CSR#NYSE">CSR</a>) is a Minot, North Dakota-based residential REIT with a focus on the ownership, management, acquisition and redevelopment of apartment buildings. Its portfolio covers 72 apartment complexes with 13,088 apartments across the Midwestern and Mountain states of Colorado, Minnesota, Montana, Nebraska, North Dakota and South Dakota. As of Sept. 2023, Centerspace had an occupancy rate of 94.4%.
On Feb. 20, Centerspace, also known as Investors Real Estate Trust REIT, announced its fourth-quarter operating results. FFO of $1.22 beat the consensus estimate of $1.11 and revenue of $64.07 million also beat the consensus estimate of $63.99 million.
At the same time, Centerspace announced its board approved a quarterly dividend of $0.75 per share, payable on April 8 to common shareholders at the close of business on March 28. The dividend is an increase from $0.73 per share. The annualized dividend of $3 yields 5.25%.
Centerspace has gained 9.1% since touching a low of $2.26 on Feb. 13.
Weekly REIT Report: REITs are one of the most misunderstood investment options, making it difficult for investors to spot incredible opportunities until it's too late. Benzinga's in-house real estate research team has been working hard to identify the greatest opportunities in today's market, which you can gain access to for free by signing up for the <a href="https://www.benzinga.com/money/reit-newsletter">Weekly REIT Report.</a>
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Press Releases

EREZ ASSET MANAGEMENT OUTLINES SPECIFIC INITIATIVES ITS NOMINEES WILL ADVANCE IF ELECTED TO WHITESTONE REIT BOARD

Whitestone REIT Urges Shareholders to Support Its Highly Qualified Trustee Nominees at the Annual Meeting on May 14 – Vote Today Using the White Proxy Card

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Whitestone REIT to Present at Nareit's REITweek 2024 Investor Conference

Management

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