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Whitestone (WSR) Stock Jumps 9.6%: Will It Continue to Soar?

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Whitestone (WSR - Free Report) shares soared 9.6% in the last trading session to close at $11.23. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 0.7% gain over the past four weeks.

This increased optimism stems from the announcement of several leadership transitions. As part of this move, the company also announced the departure of John Dee, COO and Bradford Johnson, the Executive Vice President of Acquisitions and Asset Management.

With the accomplishment of these transitions, the company’s executive leadership team will include Dave Holeman, CEO; Christine Mastandrea, COO; Scott Hogan, CFO; Peter Tropoli, General Counsel and Michelle Siv, Vice President of Human Resources.

This real estate investment trust is expected to post quarterly funds from operations (FFO) of $0.24 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $32.58 million, up 9.2% 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 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. Service Properties (SVC - Free Report) , another stock in the same industry, closed the last trading session 3.1% lower at $8.26. SVC has returned -9.7% in the past month.

For Service Properties, the consensus FFO estimate for the upcoming report has remained unchanged over the past month at $0.23. This represents a change of +264.3% from what the company reported a year ago. Service Properties currently has a Zacks Rank of #3 (Hold).


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