Whitestone REIT price target raised to $16 from $15 at JMP Securities

JMP Securities analyst Mitch Germain raised the firm’s price target on Whitestone REIT to $16 from $15 and keeps an Outperform rating on the shares. MCB Real Estate’s improved take-private offer for Whitestone REIT, which was revealed on October 9, continues to fall short, the analyst tells investors in a research note. While the firm appreciates MCB’s willingness to increase its bid, the proposal implies a 14x multiple, which remains a full turn below the shopping center REIT average, JMP says.