logo
Whitestone Bolsters Its Austin Portfolio, Buys San Clemente

Whitestone Bolsters Its Austin Portfolio, Buys San Clemente

Yahoo13-05-2025

Shares of Whitestone REIT WSR closed 5.2% higher on May 8, 2025, at market close, after the retail REIT announced the acquisition of San Clemente, a restaurant-anchored retail center, spanning 31,832 square feet, in Davenport, Austin, TX, as investors cheered this purchase.
The move comes as part of the company's growth strategy to bolster its portfolio with the center's strong dynamics and its retailer relationships in the upscale neighborhoods it serves — Davenport Ranch, Westlake, Rob Roy and Barton Creek.
Located at the intersection along Loop 360, in the vicinity of the Apple and Tesla campuses and many other technology companies, San Clemente is the fifth addition to Whitestone's portfolio of neighborhood shopping centers in Texas's capital city, benefiting from strong inbound migration and a booming tech sector. The tenant roster includes names like Fresa's, a local Mexican specialty, which anchors the property, Iron Fitness, a training and fitness facility and Greenlake Energy, an energy technology company.
The center offers unique advantages, serving an affluent population with an average household income exceeding $280,000, strict development restrictions curbing oversupply and efficient connectivity, with more than 55,000 vehicles per day in support traffic.
According to Whitestone REIT COO, Christine Mastandrea, 'This center has all of the dynamics we look for, including strong surrounding schools, a community with a robust job market and upwardly mobile families and the potential to actively remerchandise the center.'
Whitestone REIT is a fully integrated real estate investment trust that acquires, owns, manages, develops and redevelops high-quality, internet-resistant neighborhood, community and lifestyle retail centers. Whitestone's properties are principally located in Austin, Dallas-Fort Worth, Houston, San Antonio, TX, and Phoenix, AZ.
The acquisition of San Clemente will boost its portfolio in line with its strategy of enhancing its asset base with properties enjoying a solid trade area. Strategically located within a three-mile radius of Pennybacker Bridge and Red Bud Trail, the center will benefit from the two main river crossings in the Austin area, which bound all the vehicles across the Colorado River to the Westlake Drive and Loop 360 thoroughfares. The upcoming Four Seasons development, with around 200 high-end residences, is also likely to drive strong footfall.
However, the market is witnessing a shift in retail shopping from brick-and-mortar stores to Internet sales. This is expected to adversely impact the market share for brick-and-mortar stores like WSR. Moreover, market uncertainties arising from policy shifts, economic volatility and anticipations of high inflation remain major concerns.
Over the past three months, shares of this Zacks Rank #4 (Sell) company have declined 7.6%, underperforming the industry's fall of 0.3%.
Image Source: Zacks Investment Research
Some better-ranked stocks from the broader REIT sector are Digital Realty Trust DLR and Cousins Properties CUZ, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Digital Realty Trust's 2025 FFO per share stands at $7.09, which indicates an increase of 5.7% from the year-ago quarter.
The Zacks Consensus Estimate for Cousins Properties' 2025 FFO per share is pegged at $2.79, which suggests year-over-year growth of 3.7%.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Cousins Properties Incorporated (CUZ) : Free Stock Analysis Report
Digital Realty Trust, Inc. (DLR) : Free Stock Analysis Report
Whitestone REIT (WSR) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Tacos La Villa to open Tehachapi location in early July
Tacos La Villa to open Tehachapi location in early July

Yahoo

timean hour ago

  • Yahoo

Tacos La Villa to open Tehachapi location in early July

BAKERSFIELD, Calif. (KGET) — A restaurant that has served Mexican food to Kern County residents for 31 years is expanding. Tacos La Villa announced the opening of a Tehachapi restaurant is coming in early July 2025. The new restaurant will be located at 620 W Tehachapi Boulevard. Thieves are targeting these luxury truck models in Bakersfield The restaurant says their recipes are founded on the principles of fresh ingredients and are eager to become apart of the Tehachapi community. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Metal manufacturer to lay off nearly 150 in Lakeville, Shakopee, Plymouth
Metal manufacturer to lay off nearly 150 in Lakeville, Shakopee, Plymouth

Yahoo

time3 hours ago

  • Yahoo

Metal manufacturer to lay off nearly 150 in Lakeville, Shakopee, Plymouth

A Plymouth-based sheet metal fabricator and manufacturer of precision metal components will close all of its Minnesota facilities, including its Lakeville, Plymouth and Shakopee locations, laying off nearly 150 workers following failed efforts to put itself up for sale. J&E Companies will lay off 45 employees from its Lakeville site alone, including welders, machine operators, process engineers, plant managers, drivers and other job classifications. A letter to the Minnesota Department of Employment and Economic Development, dated June 2, indicated that the layoffs will take effect that same day 'due to financial difficulties and circumstances,' and that 'a potential sale of the business' had fallen through. The workers are non-unionized and do not have bumping rights, according to the company's letter, which is signed by a corporate adviser from Harney Partners. J&E Companies was founded more than 65 years ago and provided precision machining and fabrication services to the medical, aerospace, commercial and agricultural industries, according to its website. In 2022, it acquired R&B, a Wisconsin-based precision machining company with more than 100 employees. In all, the merged companies maintained six sites in Minnesota, Racine, Wis. and Reynosa, Mexico, with a combined total of 325 employees. A call to a company spokesperson was not immediately returned on Wednesday. Whitebridge Capital Partners announced Wednesday it is acquiring the major assets of R&B Grinding of Racine, which will be renamed RB Industrial Manufacturing LLC, 'in recognition of the full range of machining processes the company can provide from its 140,000 square foot facility,' reads a statement from Whitebridge, which specializes in distressed manufacturing companies. 'We're not involved in the Minnesota operations at all,' said Todd DiBenedetto, principal with Whitebridge Capital Partners, in a brief phone interview on Wednesday. He said the Mexican plant was still in operation, and 'we are looking at it. We may get involved with it in the future, but right this second, we're not.' Feds: Minneapolis, Dakota County search warrants stemmed from 900 lbs of meth found in Burnsville storage unit Eagan city administrator withdraws resignation, passes up ICMA role Community memorial set for William 'Ike' Eickholt, found dead last winter MN Legislature: Measure to divert transportation funds from counties dropped Charges filed in drive-by shooting outside Burnsville High School graduation

Why Cleveland-Cliffs Stock Just Dropped
Why Cleveland-Cliffs Stock Just Dropped

Yahoo

time5 hours ago

  • Yahoo

Why Cleveland-Cliffs Stock Just Dropped

The Trump administration may have reached a deal to lower tariffs on imported Mexican steel. The lowered (or eliminated) tariffs would not affect 50% tariffs on steel sourced from other countries. Cleveland-Cliffs stock also faces the prospect of stiffer competition from U.S. Steel. 10 stocks we like better than Cleveland-Cliffs › Cleveland-Cliffs (NYSE: CLF) stock fell 8.5% through 2:10 p.m. ET Tuesday after Reuters reported on new trade negotiations between the U.S. and Mexico that could significantly roll back 50% tariffs on steel imports -- which had themselves been announced only last week. The negotiations would not affect all steel imports -- only those from Mexico, and only to an extent. While details haven't yet been made public, Reuters reports the idea will be to permit a certain quota or specified volume of steel to come into the U.S. from Mexico duty free, or at a reduced tariffs rate. Imports in excess of that quota or volume limit would still pay the 50% tariff. And of course, the 50% tariff will remain in place for imported steel from other countries. Just the rumor of the creation of this single Mexican loophole, though, seems to have shaken investors' confidence that Cleveland-Cliffs stock is a sure thing -- and no wonder. After all, if tariffs can be renegotiated lower with one country, they can be renegotiated lower with other countries as well -- or even lowered back down to previous levels with entire regions (such as the E.U. or North America), or with the world as a whole. That would be bad news for Cleveland-Cliffs investors, who've been counting on tariff policy to help turn their company profitable again, after losing $754 million a year. At the same time, the company has to worry about domestic competition from a U.S. Steel that will soon be backed by money from Japan's . It's a good reminder for investors: If you're counting on a change in government policy to save your stock, you may be setting yourself up for a fall. Before you buy stock in Cleveland-Cliffs, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Cleveland-Cliffs wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $649,102!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $882,344!* Now, it's worth noting Stock Advisor's total average return is 996% — a market-crushing outperformance compared to 174% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Cleveland-Cliffs Stock Just Dropped was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store