B.Riley FBR analyst Craig Kucera reiterated a Buy rating on Whitestone REIT (NYSE: WSR) today and set a price target of $14. The company’s shares opened today at $12.88.
Kucera noted:
“We are raising our price target on Buy-rated Whitestone REIT (WSR) from $13 to $14, taking into account the ~10% NAV/1.25x earnings multiple expansion increase in shopping center REIT valuations since 2Q18. WSR reported 2Q18 results which were $0.01 lower than expected on a rounding error ($18k), and core retail same-store results remained robust at 3.1%. However, we are reducing our earnings estimates, with our 2018E core FFO declining $0.01 to $1.19 and our 2019E core FFO declining $0.03 to $1.20 as WSR remains more highly levered to increasing short-term interest rates than its peers. We continue to see ample occupancy upside embedded in the portfolio, and WSR’s leasing activity is accelerating.”
According to TipRanks.com, Kucera is a 4-star analyst with an average return of 6.0% and a 68.1% success rate. Kucera covers the Financial sector, focusing on stocks such as NexPoint Residential Trust Inc, National Retail Properties, and Gladstone Commercial Corp.
Currently, the analyst consensus on Whitestone REIT is a Strong Buy with an average price target of $14.50.
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The company has a one-year high of $15.15 and a one-year low of $10.06. Currently, Whitestone REIT has an average volume of 324.9K.
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Whitestone REIT is a real estate company, which acquires, owns, manages, develops, and redevelops commercial properties in the markets of major metropolitan areas. The company was founded on August 20, 1998 and is headquartered in Houston, TX.
