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Whitestone (WSR) Soars 7.4%: Is Further Upside Left in the Stock?

Whitestone WSR shares soared 7.4% in the last trading session to close at $9.96. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 3.6% loss over the past four weeks.

Fortress Investment Group recently approached the company about a takeover, leading to increased optimism in the stock. However, per media reports, WSR has rejected Fortress Investment Group’s proposal.

This real estate investment trust is expected to post quarterly funds from operations (FFO) of $0.23 per share in its upcoming report, which represents a year-over-year change of -4.2%. Revenues are expected to be $37.5 million, up 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.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Whitestone is part of the Zacks REIT and Equity Trust - Other industry. National Health Investors NHI, another stock in the same industry, closed the last trading session 0.5% higher at $50.38. NHI has returned -1.5% in the past month.

National Health Investors' consensus FFO per share estimate for the upcoming report has changed -0.1% over the past month to $1.08. Compared to the company's year-ago FFO per share, this represents a change of +1.9%. National Health Investors currently carries a Zacks Rank of #4 (Sell).

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