Welcome to our dedicated page for Whitestone news (Ticker: WSR), a resource for investors and traders seeking the latest updates and insights on Whitestone stock.
Whitestone REIT (NYSE: WSR) is a community-centered real estate investment trust focused on open-air, convenience-oriented retail centers in high-growth markets across Texas and Arizona. The Whitestone REIT news feed on this page aggregates company press releases, market announcements, and third-party coverage related to WSR stock and its operations.
Readers can follow updates on Whitestone’s acquisitions and property activity, including neighborhood shopping center purchases such as World Cup Plaza in Frisco, Texas, and Ashford Village in Houston, as well as property-level initiatives like remerchandising and occupancy milestones at centers such as The Promenade at Fulton Ranch in Chandler, Arizona. These stories illustrate how Whitestone curates tenant mixes and manages its portfolio of open-air retail centers.
The news stream also captures financial and corporate developments, such as quarterly and year-to-date operating results, Same-Store NOI trends, rental rate growth, and updates on Whitestone’s unsecured credit facility and at-the-market equity program. Dividend announcements, including changes in payment schedules and declared distribution amounts, appear alongside information on share repurchase authorizations and other capital allocation decisions disclosed in press releases and Form 8-K filings.
Another important category of coverage relates to strategic and shareholder matters. Recent items include Whitestone’s acknowledgement of an unsolicited, non-binding acquisition proposal from MCB Real Estate and subsequent public letters from MCB discussing its ownership stake and proposed purchase price. These communications provide context for investors tracking potential corporate transactions involving WSR.
By reviewing this news page, investors and researchers can see how Whitestone communicates about its neighborhood-focused retail strategy, portfolio performance, financing arrangements, and shareholder-related proposals. For deeper analysis, individual articles can be read in full to understand the details behind each headline and how they relate to Whitestone REIT’s broader business model.
Whitestone REIT (NYSE: WSR) announced strong fourth quarter and full year 2021 results, showcasing a revenue increase to $33.3 million from $29.8 million year-over-year. Net income for the fourth quarter was $2.6 million, down from $3.1 million, while FFO per share was $0.21, slightly below $0.23. The company reported a 12.8% growth in same-store NOI. A notable increase in dividend by 11.6% was declared. For 2022, guidance estimates GAAP net income per share of $0.35 to $0.39. Whitestone focuses on maximizing shareholder value and prudent capital allocation.
Whitestone REIT (NYSE: WSR) has announced an increase in its monthly cash dividend to $0.04 per share from $0.035833, reflecting a quarterly total of $0.12 and an annualized $0.48, marking an 11.6% increase. This decision, made by the Board of Trustees, showcases the company's operational and financial improvements. The dividend payment dates for the second quarter are set for April 14, May 12, and June 14, 2022. CEO Dave Holeman expressed confidence in the company's growth strategy and its talented team.
Whitestone REIT (NYSE: WSR) announced leadership transitions effective immediately. Christine Mastandrea has been promoted to Chief Operating Officer, overseeing operations and strategic initiatives. Peter Tropoli becomes Corporate Secretary, and Michelle Siv is now Vice President of Human Resources. Departures include John Dee and Bradford Johnson. David Mordy joins as Director of Investor Relations, and Michael Ly as Controller. CEO Dave Holeman expressed confidence in the new leadership team's ability to enhance operational excellence and shareholder returns.
Whitestone REIT announced the termination of its shareholder rights plan, also known as a “poison pill,” effective February 7, 2022, ahead of the scheduled expiration date of May 13, 2022. This move aligns with the company's commitment to corporate governance best practices, as noted by CEO David Holeman, who emphasized the importance of shareholder feedback in this decision. Whitestone, operating primarily in affluent Sunbelt markets, has a history of consistent monthly dividend payments for over 15 years, backed by a strong and balanced capital structure.
Whitestone REIT (NYSE: WSR) has disclosed the federal income tax treatment of its 2021 cash distributions to common shareholders. For 2021, the total distribution per share is reported at $0.428330, with ordinary dividends amounting to $0.345600 and an unrecaptured Section 1250 gain of $0.082730. Shareholders are advised to consult their tax advisors for personalized guidance on the tax treatment of these distributions. Whitestone REIT focuses on community-centered shopping centers in affluent markets across the Sunbelt, paying monthly dividends for over 15 years.
Whitestone REIT (NYSE:WSR) will release its financial results for Q4 and year-end 2021 on March 1, 2022. A conference call and webcast will follow on March 2, 2022, at 11:00 AM ET, providing detailed insights into the company's performance. Investors can access the earnings release and supplemental data via the Investor Relations section of the company's website. Whitestone has maintained a commitment to monthly dividends for over 15 years, highlighting its stability and growth potential in the competitive REIT market.
Whitestone REIT (NYSE: WSR) announced a leadership change on January 18, 2022, appointing Dave Holeman as CEO and Scott Hogan as CFO. This followed the termination of James Mastandrea for cause due to violations of company standards, although it was not related to the firm's financial performance. The Board emphasized their commitment to corporate governance and confidence in the company's operations and assets. Whitestone's upcoming financial results for Q4 2021 will be reported in early March.
Whitestone REIT (NYSE: WSR) has declared a monthly cash dividend of $0.035833 per share for the first quarter of 2022, totaling $0.1075 quarterly or $0.43 annually. This marks the company's 137th, 138th, and 139th consecutive monthly dividend distributions. With a current annual yield of 4.5% that exceeds the shopping center industry average of 3.3%, the dividend payout ratio to FFO Core stands at 43%, lower than the industry average of 53%. Notably, Whitestone continues to achieve increased occupancy rates and improve its debt leverage ratio.
Whitestone REIT (NYSE:WSR) has acquired Anderson Arbor, an open-air shopping center in northwest Austin, Texas, enhancing its portfolio in high-growth areas. This acquisition increases Whitestone's total leasable area in the Austin-San Antonio market to approximately 734,000 square feet. Anderson Arbor, which is 90.9% leased, is projected to add $2.5 million to revenues in 2022. The center benefits from a strong demographic profile and is strategically located near major corporations, providing significant growth opportunities.
Whitestone REIT (NYSE: WSR) has maintained strong demand for its restaurant spaces, comprising 18% of its gross leasable area, offering a 35% rental premium. The company has quickly filled vacancies, primarily with local restaurants that adapted well during the pandemic. With a focus on high-quality dining experiences, Whitestone’s properties are attracting restaurateurs seeking second-generation spaces, which ease costs and expedite openings. New restaurants, including Hudson House and Prey, are set to enhance the dining landscape in their respective locations.
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