Whitestone Stock Price, News & Analysis

Whitestone REIT (NYSE:WSR) has acquired Lakeside Market, a 163,000 square-foot open-air shopping center in Plano, Texas, adjacent to a new H-E-B grocery store, set to open in Fall 2022. This acquisition marks Whitestone's ninth property in the Dallas-Ft. Worth area, increasing its total leasable space in the region to approximately 831,000 square feet. The acquisition is expected to generate $2.3 million in revenue for the remainder of 2021 and $5.2 million in 2022. Lakeside Market is strategically located in a high-income area, currently 80.5% occupied.

Whitestone REIT (NYSE:WSR) will announce its Q2 financial results on August 3, 2021, after market close. A webcast and conference call is scheduled for August 4, 2021, at 11:00 A.M. ET, led by CEO Jim Mastandrea and CFO Dave Holeman. Investors can access the webcast via the Company's website. The call will be recorded with replay options available until August 18, 2021. Established over 15 years ago, Whitestone REIT focuses on community-centered shopping centers in affluent Sunbelt markets and has a history of consistent monthly dividend payments.

Whitestone REIT announced a 10.1% revenue increase following the re-merchandising of Las Colinas Village, driven by the addition of new tenants like Michael's of Las Colinas. This re-merchandising effort has raised occupancy in the Dallas market to 91%, up by 3% from the first quarter of 2021. The property is strategically located with a daily traffic count of 191,000 vehicles and a household income exceeding $100,000. Whitestone continues to target high-growth areas, enhancing revenue and contributing value to shareholders.

Whitestone REIT (NYSE:WSR) has launched its new “Easy Lease” initiative, aimed at simplifying the leasing process for entrepreneurial clients. This technology-enabled program allows clients to sign a lease today and move in tomorrow, targeting spaces of 2,000-square-feet or less. The initiative promises a mobile-friendly lease form and a streamlined approval process, reducing the lease cycle from days to hours. It aims to enhance client experience and boost occupancy rates, ultimately increasing revenue for the company. Whitestone has a strong history of paying monthly dividends for over 15 years.

Whitestone REIT (NYSE: WSR) has declared a monthly cash dividend of $0.035833 per share, totaling a quarterly amount of $0.1075, and an annualized amount of $0.43 per share. The upcoming dividends will be distributed in July, August, and September 2021, with record and payment dates set for 7/2, 8/3, and 9/2, and payment dates of 7/14, 8/12, and 9/14, respectively. Current yields stand at 5%, with a payout ratio to FFO Core of 44%. The company aims to grow through $230 million in redevelopment and acquisition initiatives, reflecting its commitment to shareholder returns.

Whitestone REIT announced that Paul’s Ace Hardware has renewed its lease for 10 years and will expand its store by approximately 4,000 square feet at the Fountain Hills Plaza property in Arizona. This expansion will increase the store's size from 26,287 to 30,646 square feet, making it one of the largest Ace stores in the Phoenix Metro Area. The renewal strengthens the cash flows for Whitestone’s shareholders, contributing to the long-term security of the property. The center hosts other essential tenants, enhancing its appeal and community value.

Whitestone REIT (NYSE: WSR) reported a net income of $0.03 per diluted share for Q1 2021, totaling $1.4 million. Funds from Operations (FFO) decreased to $0.20 per share, down from $0.21 the previous year. Leasing transactions included 46 new leases totaling $19.9 million and renewal leases with a 9.6% growth rate. However, same-store Net Operating Income (NOI) declined by 4.3%. Despite challenges from COVID-19, 95% of rents were collected in Q1. The company reduced total net debt by $17.2 million, maintaining a balanced capital structure and increasing its dividend by 2.4%.

Whitestone REIT (NYSE:WSR) will report its Q1 financial results for the period ending March 31, 2021, after market close on May 4, 2021. The earnings conference call is scheduled for May 5, 2021, at 11:00 A.M. ET, hosted by CEO Jim Mastandrea and CFO Dave Holeman. Investors can access the call via the company's website, and a replay will be available until May 19, 2021. Whitestone REIT, focused on community-centered shopping centers, has maintained monthly dividends for over 15 years, underscoring its stable financial structure.