Research Desk Line-up: Alexander's Post Earnings Coverage
LONDON, UK / ACCESSWIRE / November 15, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Whitestone REIT (NYSE: WSR) ("Whitestone"), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=WSR. The Company, which is a Community-Centered retail real estate investment trust that acquires, owns, manages, develops, and redevelops high-quality ecommerce resistant neighborhood, community, and lifestyle retail centers, announced on November 13, 2017, the execution of three new tenant leases. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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The new leases comprise the signing of Planet Fitness, Hacienda's Mexican Grill, and Eggstasy restaurants at its Mercado at Scottsdale Ranch. The new tenants are Ecommerce Resistant and are expected to increase occupancy at the property by 25%.
Mercado at Scottsdale Ranch Provides Tenants Access to An Affluent Population
Three New Leases
The total area for the new leases totals up to 35,710 SF and comprises the signing of Planet Fitness, Hacienda's Mexican Grill, and Eggstasy restaurants at its Mercado at Scottsdale Ranch. Of these, Hacienda's and Eggstasy have already opened for business while Planet Fitness, which is the largest of the three new tenants occupying 29,192 SF, is expected to open by the end of the year.
Whitestone's Chairman and Chief Executive Officer (CEO), James C. Mastandrea, shared his views about the implications of these three new leases.
Last Close Stock Review
At the closing bell, on Tuesday, November 14, 2017, Whitestone REIT's stock slightly rose 0.55%, ending the trading session at $14.56. A total volume of 332.81 thousand shares have exchanged hands. The Company's stock price surged 12.78% in the last three months, 30.47% in the past six months, and 8.09% in the previous twelve months. Moreover, the stock gained 1.25% since the start of the year. The stock is trading at a PE ratio of 80.00 and has a dividend yield of 7.83%. The stock currently has a market cap of $556.92 million.
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SOURCE: Pro-Trader Daily