Whitestone REIT: An Unusual 8.2% U.S. Real Estate Play
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Whitestone REIT is a real estate investment trust engaged in owning and operating commercial properties in culturally diverse markets in metropolitan areas. The Company conducts all its operations and activities through the Operating Partnership.
Friday, Feb 2812:52 PM
Friday, Feb 2812:52 PM| Comment!
- 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.
Thursday, Oct 32013, 9:15 AM
Wednesday, Oct 22013, 5:43 PM
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gsterling:: Great thanks.
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Ocean Man:: I actually like this one to keep going up, or as a long-term dividend payer, not a strong conviction sell, more a portfolio-balancing thing.