Latest news with #Whitestone
Otago Daily Times
4 hours ago
- Business
- Otago Daily Times
Award-winning Oamaru restaurant hired teens with no contract
An award-winning Oamaru restaurant must pay two teenagers $500 each after they were employed with no contract. The two employees took Cucina Oamaru Ltd to the Employment Relations Authority because they believed they had been illegally sacked. They both received confusing texts from their employer, Yanina Tacchini, and were not offered any more shifts after they picked up second jobs as "cheese hosts" at Whitestone Cheese Diner & Deli. But authority member Andrew Dallas said they had not been illegally sacked and, due to the casual nature of their employment, Cucina had no obligation to keep offering them shifts. Cucina is an upmarket restaurant in Oamaru and the name of the company, which also operates another restaurant, Del Mar, and Tees Street Cafe. Last year, Cucina was nominated for five awards at the Otago Hospitality Awards and won the outstanding restaurant award, the people's choice award and the award for supreme establishment. It was awarded one hat in the Cuisine Good Food Awards in 2023, a ranking that denotes excellence and was given to fewer than 90 restaurants throughout the country. The two teenage employees worked across all three establishments. At the Employment Relations Authority (ERA) hearing it became clear neither girl had an employment contract. Mrs Tacchini said she prepared employment agreements for them and provided these to managers but only discovered they were not in force when the personal grievance claims were filed. Both girls were in high school when they started working for Cucina and they stopped working there in November 2023. The first employee started working in 2021 after she responded to a Facebook advertisement for a last-minute kitchen hand shift. During the shift, Mrs Tacchini asked the girl if she could work another shift at Tees Street Cafe the next day. Mrs Tacchini said she made it clear to the girl employment with Cucina was on a "casual" basis. The girl told the ERA Mrs Tacchini said a contract was not needed because of this, but the employer denied saying that. In September 2023, the employee talked to Mrs Tacchini about starting a second job, to which Mrs Tacchini was open. But in November 2023, when the employee advised her boss of her new role, she was told Cucina viewed working at Whitestone as a "conflict". Before the employee could respond, she received two more texts stating: "so it's OK you can work there but we will remove you from Del Mar's roster" and "good luck with your future ventures". The girl said she was "completely taken aback by [her] sudden dismissal" and it was very confusing. Mrs Tacchini said Cucina managers conveyed to the teen later that night she had not been "dismissed" from her casual employment with Cucina, but she would not be offered further shifts if she chose to work at Whitestone. A similar situation unfolded for the second employee when she too got a job as a "cheese host" at Whitestone. She thought a second job there would be viable as Cucina had previously approved her working a second job at Pita Pit. The girl said she "reached out" to Mrs Tacchini, who was initially supportive, but again things changed and she was advised Cucina saw working at Whitestone as a conflict. Despite assurances the girl said she gave about maintaining the company's confidentiality, Mrs Tacchini sent her a text message stating: "That's OK. We will remove you from Cucina's roster. Good luck ... I wish you the best". This was followed by another text saying "please just email me the resignation letter". Mrs Tacchini accepted her choice of words when texting both girls was poor, but maintained they had not been "dismissed". Authority member Mr Dallas found the girls were not unjustifiably dismissed, even though they both believed they were permanent employees. "A genuine belief about employment status and the absence of an in-force employment agreement, which certainly would have assisted, does not, of itself, create a permanent employment relationship," Mr Dallas said. He ordered Cucina to pay each girl $500 for the lack of an employment contract.
Otago Daily Times
10 hours ago
- Business
- Otago Daily Times
Restaurant must pay teens $500 each because employment contracts lacking
An award-winning Oamaru restaurant must pay two teenagers $500 each after they were employed with no contract. The two employees took Cucina Oamaru Ltd to the Employment Relations Authority because they believed they had been illegally sacked. They both received confusing texts from their employer, Yanina Tacchini, and were not offered any more shifts after they picked up second jobs as "cheese hosts" at Whitestone Cheese Diner & Deli. But authority member Andrew Dallas said they had not been illegally sacked and, due to the casual nature of their employment, Cucina had no obligation to keep offering them shifts. Cucina is an upmarket restaurant in Oamaru and the name of the company, which also operates another restaurant, Del Mar, and Tees Street Cafe. Last year, Cucina was nominated for five awards at the Otago Hospitality Awards and won the outstanding restaurant award, the people's choice award and the award for supreme establishment. It was awarded one hat in the Cuisine Good Food Awards in 2023, a ranking that denotes excellence and was given to fewer than 90 restaurants throughout the country. The two teenage employees worked across all three establishments. At the Employment Relations Authority (ERA) hearing it became clear neither girl had an employment contract. Mrs Tacchini said she prepared employment agreements for them and provided these to managers but only discovered they were not in force when the personal grievance claims were filed. Both girls were in high school when they started working for Cucina and they stopped working there in November 2023. The first employee started working in 2021 after she responded to a Facebook advertisement for a last-minute kitchen hand shift. During the shift, Mrs Tacchini asked the girl if she could work another shift at Tees Street Cafe the next day. Mrs Tacchini said she made it clear to the girl employment with Cucina was on a "casual" basis. The girl told the ERA Mrs Tacchini said a contract was not needed because of this, but the employer denied saying that. In September 2023, the employee talked to Mrs Tacchini about starting a second job, to which Mrs Tacchini was open. But in November 2023, when the employee advised her boss of her new role, she was told Cucina viewed working at Whitestone as a "conflict". Before the employee could respond, she received two more texts stating: "so it's OK you can work there but we will remove you from Del Mar's roster" and "good luck with your future ventures". The girl said she was "completely taken aback by [her] sudden dismissal" and it was very confusing. Mrs Tacchini said Cucina managers conveyed to the teen later that night she had not been "dismissed" from her casual employment with Cucina, but she would not be offered further shifts if she chose to work at Whitestone. A similar situation unfolded for the second employee when she too got a job as a "cheese host" at Whitestone. She thought a second job there would be viable as Cucina had previously approved her working a second job at Pita Pit. The girl said she "reached out" to Mrs Tacchini, who was initially supportive, but again things changed and she was advised Cucina saw working at Whitestone as a conflict. Despite assurances the girl said she gave about maintaining the company's confidentiality, Mrs Tacchini sent her a text message stating: "That's OK. We will remove you from Cucina's roster. Good luck ... I wish you the best". This was followed by another text saying "please just email me the resignation letter". Mrs Tacchini accepted her choice of words when texting both girls was poor, but maintained they had not been "dismissed". Authority member Mr Dallas found the girls were not unjustifiably dismissed, even though they both believed they were permanent employees. "A genuine belief about employment status and the absence of an in-force employment agreement, which certainly would have assisted, does not, of itself, create a permanent employment relationship," Mr Dallas said. He ordered Cucina to pay each girl $500 for the lack of an employment contract.
CBS News
a day ago
- CBS News
Home invasion and robbery rocks quiet Queens neighborhood. Here's the latest on the investigation.
Police are searching for two suspects who forced their way into a Queens home, tied up a family and robbed them. The brazen home invasion happened on Monday morning on a stretch of 12th Avenue in Whitestone, across the street from an elementary school. The NYPD said two men barged into the home around 9 a.m., one of them wearing an Amazon vest, and led the victims, a 42-year-old man, a 39-year-old woman, and three children, down to the basement and bound them with duct tape and zip ties. They then stole money and jewelry before taking off in the family's car, which detectives said was found less than a half a mile from the house. Neighbors unnerved by home invasion A neighbor said he was on his way to work when he saw a man pleading for help. "I just see this man come running out of his house with duct tape on him," he said. "He was definitely disheveled. He was definitely, like, scared, and he probably didn't know what just happened, himself." A school being is close proximity to such a violent crime struck a nerve as well. "All the kids are here. That's, like, really scary for, like, even the children," a woman said. Police are now looking into who the two suspects are and why they chose the house. Anyone with any information is asked to call the NYPD's Crime Stoppers hotline at 1-800-577-TIPS (8477), or for Spanish, 1-888-57-PISTA (74782). You can also submit a tip via their website or via DM on Twitter, @NYPDTips. All calls are kept confidential.
Yahoo
28-05-2025
- Business
- Yahoo
TipRanks' ‘Perfect 10' Picks: 2 Top-Scoring Stocks with Bullish Backing
Stocks spent much of May in rally mode, but the momentum faded last week as the S&P 500 slipped nearly 3%. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter It's a fresh reminder of the market turbulence that's shadowed President Trump's second term. Investors continue to wrestle with the impact of his shifting policies and unpredictable leadership. Still, April's economic data brought some relief: job growth remained solid, and inflation showed further signs of easing. In such a climate, marked by political uncertainty and mixed economic signals, navigating the markets becomes especially challenging. That's where tools like the TipRanks Smart Score come into play. This AI-powered system cuts through the noise by analyzing the vast data generated by millions of stock transactions, rating every stock based on factors historically tied to strong future performance. The results of the Smart Score comparisons are shown on a simple scale of 1 to 10, giving investors a clear, intuitive signal on any stock's likely near-term performance. The 'Perfect 10' stocks, of course, are the top-scorers that deserve a closer look—and when they get bullish backing from the Street's analysts, that's a combination of signals that can't be ignored. So, let's follow the Smart Score and analyst signals, and take a closer look at two 'Perfect 10s.' Whitestone REIT (WSR) We'll start in the world of real estate, where Whitestone REIT operates in the commercial real estate sector. The company's name says it all – it's a real estate investment trust, whose business is acquiring, owning, leasing, and managing various real properties. Whitestone's property list includes a range of medical facilities, office spaces, and retail locations, 52 in total, with 28 in Texas and 24 in Arizona. Both states, and especially Texas, are known as leaders in US economic growth in recent years. This background gives Whitestone a solid foundation for its 'Perfect 10' performance. The company follows a strict set of acquisition criteria, in order to maintain a high-quality portfolio. Its properties are located in 'established or developing, culturally diverse neighborhoods,' and Whitestone intentionally sets out to diversify its holdings. The company has built its portfolio by seeking out retail and mixed-use properties with upside potentials that include value-adds, lease ups, and the possibility of contractual rent increases. Whitestone prefers areas with high traffic and high visibility, and its operations have specifically targeted the Austin, Dallas, Houston, San Antonio, and Phoenix/Scottsdale urban areas. The company's most recent acquisition move was announced this month: the addition of a San Clemente neighborhood retail center in Austin, Texas. The center is restaurant-anchored, and totals 31,832-square feet; it is located near Austin's bustling technology hub, which includes campuses for Apple and Tesla. Also of note, particularly for return-minded investors, is Whitestone's dividend. REITs are well-known as dividend 'champs,' offering payments that are usually both highly reliable and above inflation. Whitestone pays out a monthly common share dividend, at 4.5 cents per share, with the last payment sent out on May 13. At its current rate, the dividend annualizes to 54 cents per common share and gives a forward yield of 4.3%, which compares well to the prevailing 2.3% rate of inflation. Whitestone has been paying out dividends since 2010. In its last quarterly earnings report, covering 1Q25, Whitestone had total revenues of $38 million. This figure was up 2.2% year-over-year, although it missed the forecast by $940,000. The company's funds from operations, a key metric when assessing REITs, came to 26 cents per share for the quarter, up 3 cents per share year-over-year and in-line with analyst expectations. The FFO figure was more than enough to fully cover Whitestone's total Q1 dividend payments of 13.5 cents per share. For Citizens analyst Mitch Germain, this REIT presents a complex picture. Looking into the company's workings, Germain is impressed by its quality portfolio – although he notes that Wall Street was not impressed by the last quarterly report. Germain writes of Whitestone, 'Whitestone REIT's 1Q25 results were viewed unfavorably by the investment community, though we believe the company remains on track to achieve its earnings outlook, while operating trends are positioned to trend ahead of shopping center REIT peers… Underlying property operating trends were mixed in the quarter, as occupancy dipped (-120bps Q/Q), while rents posted 20% growth. Same-store growth continues to track toward the high end of the retail REIT sector, supported by recent redevelopment efforts and leasing. Overall, we believe it is best to judge management's strategic plan execution over an extended period, rather than just one quarter, and over the last 12 quarters management has enhanced governance and shareholder outreach, lowered leverage, improved property operating trends, and produced earnings growth toward the high end of the shopping center REIT sector.' Germain goes on to explain the discounted nature of the stock, adding to the above, 'The shares trade at ~12x 2025E earnings, which is a two-turn discount to the shopping center REIT peers; with superior market exposures, and above-average property growth prospects, we think the discount is penalizing.' All of this adds up to an Outperform (i.e., Buy) rating for the Citizens analyst, whose $16 price target implies that the shares are looking at a one-year gain of 33%. (To watch Germain's track record, click here) The Strong Buy consensus rating here is based on 5 unanimously positive reviews set in recent weeks. The stock has a trading price of $12.06 and its average target price, $15.20, suggests an upside potential of 26% for the year ahead. (See WSR stock forecast) Permian Resources (PR) Next on our list of 'Perfect 10s' is Permian Resources, one of the many independent oil and gas research and exploration (E&P) firms working in the hydrocarbon-rich Permian Basin of West Texas. Permian Resources, which is based in Midland, has holdings that include over 450,000 net leasehold acres, located mainly in Reeves and Ward Counties, Texas, and Eddy and Lea Counties, New Mexico. The company is the second-largest pure-play E&P firm working in the Permian, and as of March 31 this year it was realizing 373 MBoe/d in total production. Earlier this month, Permian Resources announced that it had entered into a definitive agreement to acquire 13,320 net acres, 8,700 net royalty acres and 12,000 Boe/d from APA Corporation. These assets directly offset Permian Resources' core New Mexico operating areas in the Delaware Basin formation of the larger Permian. The acquisition will cost Permian Resources $608 million. We should note here that Permian Resources has an established strategy of expansion-through-acquisition, and last year added approximately 50,000 net acres via $1.2 billion of acquisitions. Turning to the financial results, we find that the company's last quarterly report showed 1Q25 results that were in-line with analyst expectations. Permian Resources had revenue in the quarter of $1.38 billion, up 11.3% year-over-year, and saw an EPS of 44 cents; the EPS figure was a strong increase from the 25-cent earnings reported in 1Q24. Like REITs – see Whitestone, above – energy companies are known as solid dividend payers, and Permian Resources fits that bill. In its last dividend declaration, Permian Resources set a 15-cent payment per common share, to be paid out on June 30. The dividend annualizes to 60 cents per share and gives a forward yield of 4.7%. This 'Perfect 10' stock has caught the attention of Raymond James analyst John Freeman, who sees Permian Resources as a sound investment for multiple reasons. The 5-star analyst, who ranks 2nd amongst the thousands of stock experts on Wall Street, writes of this oil and gas company, 'The core tenets of PR's success are improving operational efficiencies and accretive consolidation. Market volatility presumably reduces the latter, although PR delivered another tuck-in to add into the fold. Activity remains steady-as-she-goes despite oil price weakness relative to the original budgeted levels. PR's strong balance sheet and cash balance allows the company to make the most of the current environment. The needle management is threading accrues to less CAPEX versus more production… We believe PR shares should outperform the peer group over the next 12 months.' With that stance in the background, it makes sense that Freeman rates PR shares as a Strong Buy. His $23 price target implies that the stock will appreciate by 81% in the next 12 months. (To watch Freeman's track record, click here) This is another stock with a unanimous Strong Buy consensus rating, based on 16 positive analyst reviews. The shares are currently trading for $12.72 and the $17.88 average price target indicates room for a 40.5% upside on the one-year horizon. (See PR stock forecast) To find good ideas for stocks trading at attractive valuations, visit TipRanks' Best Stocks to Buy, a tool that unites all of TipRanks' equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment. Disclaimer & DisclosureReport an Issue
Yahoo
13-05-2025
- Business
- Yahoo
Whitestone Bolsters Its Austin Portfolio, Buys San Clemente
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 Investment Research
