Boenning & Scattergood initiated Whitestone REIT with an Outperform and $13.50 price target.

Whitestone REIT shareholder Erez Asset Management released a presentation outlining the "need for change" to Whitestone's Board of Trustees and detailing how Erez's trustee nominees, Catherine Clark and Bruce Schanzer, "can help to improve the company's performance and restore value for shareholders". Bruce Schanzer, Chairman and Chief Investment Officer of Erez Asset Management, commented, "We believe the blame for Whitestone's significant underperformance and persistent undervaluation lies squarely with the current Board, which lacks the real estate experience, shareholder alignment, and fiduciary mindset necessary to effectively steward the Company in the best interest of shareholders. By detailing the current Board's numerous capital allocation, corporate administration and governance failures, our presentation demonstrates the need for change at Whitestone and highlights how our nominees can help. We look forward to speaking directly with Whitestone shareholders about these issues in the coming weeks." Erez encourages Whitestone REIT shareholders to review the presentation at its webpage and to vote "for" Catherine Clark and Bruce Schanzer and "withhold" from David Taylor and Nandita Berry.