Welcome to our dedicated page for Whitestone REIT news (Ticker: WSR), a resource for investors and traders seeking the latest updates and insights on Whitestone REIT stock.
Whitestone REIT (NYSE: WSR) is a fully integrated real estate investment trust (REIT) that specializes in acquiring, owning, managing, developing, and redeveloping high-quality retail centers. These centers are often described as 'internet-resistant,' meaning they are designed to serve essential community needs that can't easily be replaced by online shopping.
The company boasts a diversified portfolio concentrated in some of the fastest-growing and business-friendly metropolitan areas such as Austin, Chicago, Dallas-Fort Worth, Houston, Phoenix, and San Antonio. Whitestone REIT focuses on owning and operating commercial properties in these culturally diverse markets, thereby providing a stable source of rental revenue.
Latest Achievements and Ventures:
- Whitestone REIT recently filed a definitive proxy statement on Schedule 14A with the U.S. Securities and Exchange Commission (SEC) in connection with its 2024 Annual Meeting of Shareholders.
- In the most recent quarter, Whitestone declared a quarterly cash distribution of $0.12375 per common share and OP unit, marking a 3.13% increase from the previous quarter.
- The company has successfully reset its strategy under the new leadership of CEO David Holeman, which has resulted in superior total returns to shareholders since January 2022.
Core Business and Revenue:
Whitestone REIT's primary business is managing open-air retail centers that house tenants offering essential services, such as food, health and fitness, financial services, education, and entertainment. These tenants contribute to the company's revenue primarily through rental incomes, making Whitestone a reliable source of income for investors.
Financial Condition and Partnerships:
The company has updated its 2024 full-year guidance to reflect gains from the sale of Mercado at Scottsdale Ranch and expected proxy contest costs. Whitestone also emphasizes its commitment to maintaining a strong financial footing through strategic acquisitions and redevelopments, leveraging its community connections and deep tenant relationships.
Forward-Looking Statements:
Whitestone REIT has included several forward-looking statements in its latest reports, indicating the company's intent and belief in ongoing strong financial performance. However, these statements are subject to various risks and uncertainties, including economic downturns, changes in regulatory laws, and other market conditions that could impact the actual results.
For more detailed, up-to-date information, visit the company's official website.
Whitestone REIT (NYSE: WSR) announced the opening of Gabriella’s American Cuisine in Scottsdale, Arizona, contributing to the region's thriving business ecosystem. Co-owners Anthony and Anna Barr, successful caterers from San Francisco, are joining a rapidly growing community. Scottsdale boasts high migration growth, and the upscale Mercado at Scottsdale Ranch features a diverse retail mix, with household incomes averaging over $134,000. Whitestone emphasizes community connections through local tenants and has a strong capital structure for stability and growth, consistently paying dividends for over 15 years.
Whitestone REIT (NYSE: WSR) announced that its Chairman and CEO, Jim Mastandrea, alongside CFO David Holeman, will present a virtual overview of the company's operations at the Capital One Securities Inaugural REIT Conference on January 11-12, 2021. Whitestone focuses on community-centered retail centers in affluent Sunbelt markets, emphasizing local connections and e-commerce resilience. The company has a solid history of paying monthly dividends for over 15 years, supported by a strong capital structure, aiming for consistent performance across economic cycles.
Whitestone REIT (NYSE: WSR) announced that Jim Mastandrea, Chairman and CEO, along with CFO David Holeman, will present a virtual overview of the company's business at the ICR Annual Conference 2021 on January 11, 2021. As a community-centered REIT, Whitestone is focused on acquiring and managing high-quality retail centers in affluent Sunbelt markets. The company has a strong track record of paying monthly dividends for over 15 years and aims to foster local connections through a diverse tenant mix. For more information, visit www.whitestonereit.com.
Whitestone REIT's “Coffee and Cars” event in North Scottsdale, Arizona, has led to a remarkable 26% increase in foot traffic to the Market Street at DC Ranch property. Starting again on January 2nd, the event showcases over 150 exotic cars monthly, contributing to local sales growth for tenants. CEO Jim Mastandrea indicated the event's success exceeded expectations, prompting plans to expand similar events to other Whitestone locations in Texas. Whitestone REIT is recognized for its community-centered approach, consistently paying dividends for over 15 years.
Whitestone REIT (NYSE: WSR) reported strong performance despite COVID-19 challenges. Fourth quarter rental collections reached 94%, the highest in the shopping center sector. The company achieved a foot traffic recovery rate of 80.4%, outperforming industry averages. Additionally, renewal leases saw a 9.8% increase, while occupancy held steady at 89%-90%. Whitestone also fully repaid $30 million in COVID-19 liquidity borrowings, enhancing its financial stability. The firm published its inaugural Corporate Responsibility & Sustainability Report, reflecting its commitment to community engagement.
Whitestone REIT (NYSE: WSR) announced a growth in occupancy at The Shops of Starwood, reaching 100%, following the expansion of local realtors Re/Max DFW Associates and United Real Estate Dallas. This increase is expected to contribute 16% additional net operating income (NOI) in 2021. The Dallas/Fort Worth area is experiencing a corporate migration due to its favorable business environment, with new tenants including PGA and McKesson. Whitestone's Chairman noted a rebound in foot traffic to nearly pre-COVID levels, reinforcing the company's resiliency and growth potential.
Whitestone REIT (NYSE: WSR) has declared a monthly cash dividend of $0.035 per share for Q1 2021, totaling an annualized $0.42 per share. Record and payment dates are set for January 5, 2021 (payment January 14), February 2 (payment February 11), and March 2 (payment March 11). The company expects to fully repay $30 million in liquidity borrowings by year-end 2020, with approximately $10 million already repaid. November rental collections reached 92.4%, up from 90% in Q3 and 81% in Q2 2020, showcasing robust tenant performance amidst challenging conditions.
Whitestone REIT (NYSE: WSR) announced the opening of ALMA, a restaurant by entrepreneur Sheila Bryson, in Scottsdale Seville, AZ. This opening marks Bryson's fourth restaurant following successful ventures such as Soul Café and Vic & Ola’s. ALMA, focusing on authentic Southwestern and Mexican cuisine, is set in a prime location with high traffic counts and nearby luxury developments. CEO Jim Mastandrea expressed pride in supporting local entrepreneurs and highlighted the strength of their tenant base even during COVID. Whitestone REIT has consistently paid monthly dividends for over 15 years.
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