Whitestone REIT upped at JMP Securities

Whitestone REIT (WSR +2.9%) is having a big session after JMP's Mitch Germain boosts the stock to Outperform with $16 price target following earnings results earlier this week.

No details on the upgrade are yet available, but on the earnings call (transcript), Germain queried management on the number of distressed deals coming across its desk. They're getting harder to find, responds CEO James Mastandrea, but they're still out there. A lot of what he's seeing now are pretend-and-extend deals negotiated five years ago where the developers still haven't been able to turn things around. The firm's reputation has people who'd rather not publicize their distress picking up the phone to call Whitestone.

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs