JMP reconfirms Whitestone after Fort Worth’s deal
WhitestoneReit (NYSE:WSR) in Best small company stocks to invest in. Citing its latest Texas acquisition, JMP Securities reaffirmed its superior valuation over the Whitestone REIT (NYSE:WSR) market with an unchanged price target of $16.00.
Earlier on Tuesday, Whitestone REIT (NYSE: WSR) disclosed plans to buy the Texas-based 86,907-square-foot shopping center, marking the 10th at the Dallas-Fort Worth Metroplex, the 29th asset of retail REITs in Texas.
Aerial view of a nearby center with many holiday shoppers.
The research firm noted that this property purchase strengthens the company’s position in a market with a favorable operating basis. Although in full synchronization with Giant’s strategy of targeting well-known retailers, sustained rental income, and targets with market-to-market marks, the acquisition adds to an existing portfolio of 56 properties in Texas and Arizona.
In addition to this aspect, JMP Securities highlighted that Whitestone REIT (NYSE: WSR) consistently brought out-performing operational growth from its characteristics. What really sets the company apart is its deployment strategy that emphasizes improving the quality of its target market and portfolio.
Headquartered in Houston, Texas, Whitestone REIT (NYSE:WSR) is a real estate investment trust (REIT) that acquires and operates outdoor retail centers in evolving global markets such as Phoenix, Austin, and Dallas-Fort Worth. Founded in 1998, the company aims to increase property value and therefore to provide stable profits to shareholders.
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