Whitestone (WSR) shares rallied 11.8% in the last trading session to close at $18.93. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock’s 2.1% gain over the past four weeks.
The increased investor optimism in the stock can be attributed to the company’s announcement of its acquisition for an all-cash deal at around $1.7 billion by Ares Real Estate Funds.
This real estate investment trust is expected to post quarterly FFO of $0.27 per share in its upcoming report, which represents a year-over-year change of +8%. Revenues are expected to be $42.79 million, up 12.6% from the year-ago quarter.
While FFO and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in FFO estimate revisions and near-term stock price movements.
For Whitestone, the consensus FFO per share estimate for the quarter has remained unchanged over the last 30 days. And a stock’s price usually doesn’t keep moving higher in the absence of any trend in FFO estimate revisions. So, make sure to keep an eye on WSR going forward to see if this recent jump can turn into more strength down the road.
Whitestone is part of the Zacks REIT and Equity Trust – Other industry. Kilroy Realty (KRC), another stock in the same industry, closed the last trading session 2.2% lower at $27.72. KRC has returned -0.5% in the past month.
Kilroy Realty’s consensus FFO per share estimate for the upcoming report has remained unchanged over the past month at $0.87. Compared to the company’s year-ago FFO per share, this represents a change of -14.7%. Kilroy Realty currently boasts a Zacks Rank of #3 (Hold).
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