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Whitestone REIT (WSR) has an average rating of hold and mean price target of $19, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $18.88, Change: $-0.02, Percent Change: -0.13%
Whitestone REIT (WSR) has an average rating of hold and mean price target of $18.86, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
The Nasdaq Composite and the S&P 500 posted their seventh straight day of gains as a two-week ceasefire between the US and Iran appeared to remain on track.The Nasdaq closed 0.8% higher at 22,822.4, its highest close since Feb. 26 -- two days before the US-Israel war with Iran started. The S&P 500 climbed 0.6% to 6,824.7.The Dow Jones Industrial Average added 0.6% to settle at 48,185.8, advancing for a second consecutive session.Barring energy and health care, all sectors were in the green, led by consumer discretionary's 2.5% rise.Officials from Washington and Tehran are expected to meet this weekend in Pakistan, which helped broker the truce.Israeli Prime Minister Benjamin Netanyahu said the country would negotiate with Lebanon on disarming Hezbollah, CNN reported Thursday. Iranian state media previously reported that transit through the Strait of Hormuz was halted following Israeli attacks on Lebanon.Oil prices jumped, with West Texas Intermediate crude last up 4.9% at $99.06 per barrel. The benchmark hit up to $102.70 per barrel earlier in the session as shipment activity through the Strait of Hormuz remained restricted. Brent crude climbed 2.4% to $96.99 per barrel.The rebound in oil prices follows the sharpest one-day pullback since 2020 in the previous session following the ceasefire announcement."With a full reopening of the strait unlikely in the near term, oil prices are expected to remain supported, as disruptions linked to reduced output and refinery shutdowns will take time to unwind," ING Bank said in a note.US Treasury yields were declining, with the 10-year rate down 1.5 basis points at 4.29% and the two-year rate falling 2.1 basis points at 3.77%.In economic news, US inflation accelerated sequentially in February as real consumer spending edged higher, with analysts expecting price pressures to intensify due to the spillover effects of the Middle East conflict.The Federal Reserve's preferred inflation metric -- which excludes food and energy -- rose 0.4% month over month, unchanged from January's reading. Annual growth slowed to 3% from 3.1%. All inflation prints met estimates in Bloomberg-compiled surveys."With headline inflation likely to test 4% soon, there is little chance the Fed will ease policy in the near term," BMO Capital Markets said in a note.The US economy expanded at a slower rate in the fourth quarter than previously projected, as consumer spending growth decelerated, the Bureau of Economic Analysis' third estimate showed Thursday."The downward revision to (fourth-quarter) GDP is not a major concern, as it was driven by the volatile inventory component," Oxford Economics Chief US Economist Michael Pearce said in remarks e-mailed to. "Gross domestic income -- a better gauge of underlying activity -- and gross domestic output of private business showed the core of the economy was still expanding at a healthy pace at the end of last year."In company news, CoreWeave (CRWV) agreed to supply artificial intelligence cloud capacity to Meta Platforms (META) in a $21 billion deal as the companies expanded their partnership amid robust demand for infrastructure supporting AI workloads. CoreWeave shares rose 3.5%, while Meta gained 2.6%.Ares Management (ARES) agreed to acquire and take private Whitestone REIT (WSR) in an all-cash deal worth about $1.7 billion. Whitestone shares jumped nearly 12%, while Ares was virtually flat.Brown-Forman (BF.A, BF.B) was approached by Sazerac about a potential transaction amid ongoing discussions with French spirits company Pernod Ricard, The Wall Street Journal reported Thursday, citing people familiar with the matter. The company's class B shares surged nearly 13%, the top gainer on the S&P 500, while its A shares soared 11%.Chevron (CVX) said it expected higher commodity prices driven by the Middle East conflict to boost first-quarter earnings in its upstream segment by up to $2.2 billion, though timing impacts could weigh on the oil giant's bottom line. The company's shares fell 1.3%, among the worst performers on the Dow.Gold was last up 0.4% at $4,795.80 per troy ounce, while silver advanced 0.6% to $76.84 per ounce.
Financial stocks increased late Thursday afternoon, with the NYSE Financial Index adding 0.3% and the State Street Financial Select Sector SPDR ETF (XLF) up 0.4%.The Philadelphia Housing Index was climbing 1.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) rose 0.8%.Bitcoin (BTC-USD) rose 1.1% to $72,174, and the yield for 10-year US Treasuries was slightly lower at 4.29%.In economic news, US economic growth, measured by gross domestic product, was revised lower to a 0.5% increase in Q4 from a 0.7% gain in the second estimate, compared with estimates for no revision in a Bloomberg survey.US initial jobless claims rose to 219,000 in the week ended April 4 from an upwardly revised 203,000 in the previous week, compared with expectations for 210,000 in a Bloomberg poll.In corporate news, Ares Management (ARES) on Thursday agreed to acquire Whitestone REIT (WSR) in an all-cash deal worth about $1.7 billion. Ares shares were fractionally down, and Whitestone jumped nearly 12%.Carlyle (CG) will limit redemptions to 5% for its Tactical Private Credit Fund after receiving repurchase requests amounting to roughly 15.7% of shares outstanding, The Wall Street Journal reported, citing a shareholder letter. Carlyle shares were little changed.Goldman Sachs-backed (GS) Japanese taxi-hailing provider Go plans an initial public offering in 2026 that could raise between 50 billion yen ($314.5 million) and 80 billion yen, Bloomberg reported. Goldman shares shed 0.2%.TPG (TPG) has hired UBS (UBS) and Malayan Banking to help weigh options for Malaysian medical services provider Asia OneHealthcare, Bloomberg reported. TPG shares rose 1.2%, and UBS added 0.3%.
US benchmark equity indexes were higher intraday as a recent two-week ceasefire between Washington and Iran appeared to be holding, though oil prices rebounded as access to the Strait of Hormuz remained restricted.The Dow Jones Industrial Average and the Nasdaq Composite were up 0.8% each at 48,279.5 and 22,811.7, respectively, after midday Thursday. The S&P 500 added 0.7% to 6,829. Barring energy, all sectors were in the green, led by consumer discretionary.West Texas Intermediate crude was up 2.3% at $96.54 a barrel intraday. The benchmark hit up to $102.70 a barrel earlier in the session. Brent crude edged up 0.6% to $94.96 per barrel.The rebound in oil prices follows the sharpest one-day pullback since 2020 in the previous session as the US and Iran agreed to temporarily halt hostilities that had gripped the Middle East since the end of February."The Strait of Hormuz is not open," Abu Dhabi National Oil Chief Executive Sultan Al Jaber said in a LinkedIn post Thursday. "Access is being restricted, conditioned and controlled."Iranian state media previously reported that transit through the strait was halted following Israeli attacks on Lebanon. Israeli Prime Minister Benjamin Netanyahu said the country would negotiate with Lebanon on disarming Hezbollah, CNN reported Thursday."We continue to contend that actual transit levels through the waterway will remain significantly depressed given that Iran is insisting vessels must coordinate with its military or face destruction," RBC Capital Markets said in a note.Officials from Washington and Tehran are expected to meet this weekend in Pakistan, which helped broker the truce.US Treasury yields were lower intraday, with the 10-year rate down two basis points at 4.27% and the two-year rate dropping 3.4 basis points to 3.76%.In economic news, US inflation accelerated sequentially in February as real consumer spending edged higher, with analysts expecting price pressures to intensify due to the spillover effects of the Middle East conflict.The Federal Reserve's preferred inflation metric -- which excludes food and energy -- rose 0.4% month over month, unchanged from January's reading. Annual growth slowed to 3% from 3.1%. All inflation prints met estimates in Bloomberg-compiled surveys."With headline inflation likely to test 4% soon, there is little chance the Fed will ease policy in the near term," BMO Capital Markets said in a note.Weekly applications for unemployment insurance in the US rose more than expected, while continuing claims reached the lowest level since May 2024, government data showed."The latest jobless claims data offer no evidence that the (US-Israel) war with Iran has had a notable impact on the labor market," Oxford Economics said in a note. "We don't think an upside surprise in one week is sending a signal that labor market conditions are softening."In company news, CoreWeave (CRWV) agreed to supply artificial intelligence cloud capacity to Meta Platforms (META) in a $21 billion deal as the companies expanded their partnership amid robust demand for infrastructure supporting AI workloads. CoreWeave shares were up 6.1% intraday, while Meta rose 3%.Ares Management (ARES) agreed to acquire and take private Whitestone REIT (WSR) in an all-cash deal worth about $1.7 billion. Whitestone shares jumped 11%, while Ares advanced 0.5%.Chevron (CVX) said it expected higher commodity prices driven by the Middle East conflict to boost first-quarter earnings in its upstream segment by up to $2.2 billion, though timing impacts could weigh on the oil giant's bottom line. The company's shares were down 1.4% intraday, among the worst performers on the Dow.Gold was up 0.9% at $4,819 per troy ounce, while silver advanced 1.5% to $76.49 per ounce.
The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.4% and the actively traded Invesco QQQ Trust (QQQ) was 0.3% lower in Thursday's premarket activity as doubts over the durability of a Middle East ceasefire lift oil prices.US stock futures were also lower, with S&P 500 Index futures down 0.4%, Dow Jones Industrial Average futures slipping 0.5%, and Nasdaq futures retreating 0.4% before the start of regular trading.US initial jobless claims rose to a level of 219,000 in the week ended April 4 from an upwardly revised 203,000 level in the previous week, compared with expectations for a smaller increase to 210,000 in survey of analysts compiled by Bloomberg.Personal income declined 0.1% in February following January's 0.4% gain, compared with the expected 0.3% gain in a survey conducted by Bloomberg as of 7:35 am ET.US economic growth, measured by gross domestic product, was revised lower to a 0.5% increase in Q4 from a 0.7% gain in the second estimate, compared with estimates for no revision in a survey compiled by Bloomberg as of 7:35 am ET.Wholesale inventory data for February are due to be released at 10 am ET, followed by weekly natural gas stocks data at 10:30 am ET.In premarket activity, bitcoin was down by 0.3%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.2% lower, Ether ETF (EETH) fell 1.5%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) retreated marginally by 0.01%, while the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was 0.01% higher, and the iShares US Consumer Staples ETF (IYK) was up 0.5%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.1%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 1.3% lower.Simply Good Foods (SMPL) shares were down more than 19% pre-bell after the company posted lower fiscal Q2 adjusted earnings and net sales.Winners and Losers:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated 0.6%. Direxion Daily Financial Bull 3X Shares (FAS) was down 1.7%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1.9% higher.Whitestone REIT (WSR) shares were up more than 11% pre-bell after the company said it has agreed to be acquired by Ares Management (ARES) for $19 per common share or operating partnership unit in an all-cash deal valued at about $1.70 billion. Ares stock was 1.5% higher.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.2%, and the iShares US Technology ETF (IYW) was 0.1% higher, while the iShares Expanded Tech Sector ETF (IGM) was down 0.1%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was inactive, while the iShares Semiconductor ETF (SOXX) declined by 0.3%.Aehr Test Systems (AEHR) shares were down more than 2% in premarket activity, a day after the company said it plans to sell up to $60 million of its common shares via an at-the-market offering.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated by 0.1%, the Vanguard Health Care Index Fund (VHT) was down 0.1%, while the iShares US Healthcare ETF (IYH) was flat. The iShares Biotechnology ETF (IBB) was 0.7% lower.Novartis (NVS) stock was down more than 1% premarket after closing the prior session with a 2% gain. The company said Thursday it will expand its programs to find and treat patients with heart disease and cancer in "hard-to-reach" communities worldwide.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) declined by 0.7%, while the Vanguard Industrials Index Fund (VIS) gained 0.4% and the iShares US Industrials ETF (IYJ) was down 0.8%.American Airlines Group (AAL) stock was down more than 1% before the opening bell, a day after the Federal Aviation Administration said the airline should pay a $255,000 civil penalty for allegedly breaching drug and alcohol regulations.EnergyThe iShares US Energy ETF (IYE) was up 0.2%, while the State Street Energy Select Sector SPDR ETF (XLE) advanced by 0.5%.Occidental Petroleum (OXY) stock was up more than 1% before Thursday's opening bell after the company said it had discovered oil at the Bandit prospect, co-owned by Chevron (CVX) and Woodside Energy (WDS), in the Gulf of Mexico. Chevron stock was 0.8% higher, while Woodside advanced 0.5%.CommoditiesFront-month US West Texas Intermediate crude oil rose by 4.4% to $98.57 per barrel on the New York Mercantile Exchange. Natural gas retreated by 0.2% to $2.72 per 1 million British Thermal Units. The United States Oil Fund (USO) was up by 2%, while the United States Natural Gas Fund (UNG) was 0.3% lower.Gold futures for May were up by 0.1% at $4,781.00 an ounce on the Comex. Silver futures declined by 1% to $74.60 an ounce. SPDR Gold Shares (GLD) was 0.4% higher, and the iShares Silver Trust (SLV) advanced by 0.03%.
Ares Management (ARES) on Thursday agreed to acquire and take private real estate investment trust Whitestone REIT (WSR) in an all-cash deal worth around $1.7 billion.Certain Ares Real Estate funds will purchase all Whitestone shares and operating partnership units for $19 apiece, representing a premium of 12% to the firm's closing price as of Wednesday, the companies said in a joint statement. Whitestone's stock climbed 11% in the most recent premarket activity, while Ares fell 1.3%.In March, Reuters reported that several private equity firms, including Blackstone (BX), expressed interest in a potential acquisition of Whitestone."Whitestone's portfolio provides an attractive opportunity to further diversify Ares Real Estate's footprint with necessity-based retail centers in high-demand, supply-constrained metro regions across Arizona and Texas," David Roth, global head of real estate strategy and growth at Ares Real Estate, said in a statement. "Looking ahead, we are confident in Ares' ability to support and expand on the Whitestone portfolio and create value for both communities and investors."As of March 31, Whitestone's portfolio comprised 56 retail properties in Phoenix, Austin, Dallas-Fort Worth, Houston and San Antonio.The transaction, which requires approval from Whitestone's shareholders, is expected to complete in the third quarter. Following completion, Whitestone's shares will no longer trade on the New York stock exchange."We are excited to reach this agreement, which delivers significant, immediate and certain value to our shareholders while positioning Whitestone's assets for continued success," Whitestone Chair Amy Feng said.In February, Whitestone said it expected core funds from operations to be in a range of $1.10 to $1.14 per share and operating partnership unit for 2026.