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Investing.com - Citizens JMP analyst Mitch Germain has reiterated a Market Outperform rating and $16.00 price target on Whitestone REIT (NYSE:WSR), citing impressive portfolio operating trends and successful asset recycling execution. The company has demonstrated strong financial performance with a 5.27% revenue growth and a healthy gross profit margin of 69.84% in the last twelve months. According to InvestingPro analysis, WSR has maintained dividend payments for 16 consecutive years, showcasing consistent shareholder returns.
The firm highlighted Whitestone’s favorable market demographics and unique leasing strategy that emphasizes shorter leases, which Citizens JMP believes supports the potential for above-average property operating trends.
Citizens JMP noted that while Whitestone has taken a more aggressive approach toward deployment in both acquisitions and redevelopment, management remains focused on reducing leverage, with debt maturities well staggered.
The research firm believes the fundamentals are in place to support over 5% bottom-line growth, while the low dividend payout suggests significant potential upside from the current approximately 4% yield.
According to Citizens JMP, Whitestone shares remain discounted relative to peers, trading at a 1.5-turn discount to shopping center REIT peers at mid-12x, which the firm views as penalizing given the company’s growth prospects, favorable property operating trends, and superior market exposures.
In other recent news, Whitestone REIT reported its Q2 2025 earnings, exceeding analyst expectations with an earnings per share (EPS) of $0.10, compared to the forecasted $0.08. However, the company’s revenue came in slightly below projections, at $37.9 million against the anticipated $38.33 million. In another development, Emmett Investment Management is gearing up for a potential boardroom confrontation at Whitestone REIT. The hedge fund, a long-term investor in the company, is considering nominating directors to Whitestone’s six-member board. Emmett Investment Management has raised concerns regarding Whitestone’s capital allocation and governance practices. These recent developments indicate ongoing strategic and financial activities within Whitestone REIT.
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