Tue, Aug. 11, 12:59 PM
- The Fed may be determined to hike rates, but deflationary signals are everywhere, with Beijing the latest government to acknowledge such with its devaluation overnight.
- Crude oil has taken out a new six-year low, tumbling another 4% to $43.15 per barrel, and copper's 3% decline has brought it to a fresh six-year low. The grains are all down by 2% or more, but gold is marginally higher.
- The major U.S. averages are down more than 1%, and Europe fell 1.5% today.
- The 10-year Treasury yield is lower by a full ten basis points to 2.13%.
- Leading the heavily discounted mREIT sector higher are Annaly Capital (NLY +1.1%), American Capital Agency (AGNC +1.3%), CYS Investments (CYS +1.2%), New York Mortgage (NYMT +1.6%), Hatteras Financial (HTS +1.3%), Capstead (CMO +1%), Anworth (ANH +1.4%), Dynex Capital (DX +2.6%), and AG Mortgage (MITT +1.6%).
- ETFs: MORL, REM, MORT, LMBS
- In equity REITs: National Retail (NNN +1.2%), Equity Residential (EQR +1.5%), AvalonBay (AVB +1.2%), General Growth (GGP +1.9%), Kimco (KIM +1.4%), Whitestone REIT (WSR +2.9%), Washington Real Estate (WRE +1.2%), Hospitality Properties (HPT +2.3%), Chamber Street (CSG +1.1%).
- ETFs: IYR, VNQ, DRN, URE, RQI, SCHH, ICF, SRS, RWR, RNP, JRS, KBWY, RFI, NRO, DRV, RIT, REK, RIF, FRI, FTY, PSR, DRA, FREL, WREI, IARAX
Tue, Jun. 23, 8:16 AM
Mon, Jun. 22, 4:37 PM
- Whitestone REIT's (NYSE:WSR) stock offering would yield gross proceeds of $50.6M at current levels. The underwriter (JMP) is expected to have a 562.5K-share overallotment option.
- Net proceeds will be used by Whitestone's operating partnership to "repay a portion of outstanding indebtedness under Whitestone's unsecured revolving credit facility and for general corporate purposes, which may include acquisitions of additional properties, capital expenditures, the expansion, redevelopment and/or re-tenanting of properties in Whitestone's portfolio, working capital and other general purposes."
- Whitestone has fallen to $13.50 AH. The company had $8M in cash/short-term investments at the end of Q1, and $408M in debt.
Feb. 28, 2014, 12:52 PM
- 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.
Oct. 3, 2013, 9:15 AM
Oct. 2, 2013, 5:43 PM
WSR vs. ETF Alternatives
Whitestone REIT owns and operates commercial properties in culturally diverse markets in metropolitan areas. The Company's portfolio includes retail, warehouse and office properties in and around Houston, Dallas, San Antonio, Chicago and Phoenix.
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