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Whitestone REIT - WSR STOCK NEWS

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.

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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.

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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.

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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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Whitestone REIT (NYSE: WSR) is hosting its 'Coffee and Cars' event on December 5th, showcasing around 200 exotic cars at Market Street at DC Ranch in Scottsdale, Arizona. The event, co-sponsored by Scuderia Southwest, aims to enhance community engagement and boost local businesses. Previous events have resulted in up to a 25% sales increase for tenants. With expected attendance over 1,000, this initiative reflects Whitestone's strategy of creating thriving communities through local connections and events.

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Whitestone REIT (NYSE: WSR) will host the Scottsdale Motorsports Gathering starting November 7, 2020, from 7 am to 10 am at its Market Street at DC Ranch location. The event, free for spectators, features over 60 member cars and welcomes non-member vehicles for a fee. Attendees can enjoy breakfast treats from local retailers. CEO Jim Mastandrea emphasizes the win-win partnership with Scuderia Southwest, aiming to enhance foot traffic and community engagement. This monthly gathering reflects a growing interest in outdoor events, showcasing high-performance cars and fostering local connections.

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Whitestone REIT (WSR) announced its Q3 2020 results, highlighting net income of $0.9 million ($0.02 per diluted share) and funds from operations (FFO) of $8.5 million ($0.19 per share). The company reported a 4.5% drop in same-store net operating income (NOI) and has successfully collected 90% of its Q3 rents. Notably, occupancy for wholly owned properties decreased to 88.9%. Despite challenges from the COVID-19 pandemic, 97% of tenants remained operational. Whitestone maintains a strong balance sheet with $40.7 million in cash and has reduced real estate debt by $9.5 million.

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Whitestone REIT (NYSE: WSR) reported a strong 90% rental collection rate for Q3-2020, a significant increase from 81% in Q2-2020. All 53 properties are operational, with 97% of tenants open based on annualized base rent. Only 10 out of 1,386 tenants closed due to bankruptcy, equating to less than 0.5% of annualized base rent. The company emphasizes its commitment to tenant support during the COVID-19 pandemic and maintains a well-covered dividend yielding about 7%. The current share price is viewed as a unique investment opportunity due to a COVID-related discount to net asset value.

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Whitestone REIT (WSR) will release its third-quarter financial results for the period ending September 30, 2020, on October 26, 2020, after market close. A conference call, led by CEO Jim Mastandrea and CFO Dave Holeman, will take place on October 27, 2020, at 8:30 A.M. ET. Investors can access the call via the company's website. Whitestone, a REIT focused on community-centered shopping centers in fast-growing Sunbelt markets, has a history of consistent monthly dividend payments for over 15 years.

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Whitestone REIT (NYSE:WSR) has declared a monthly cash dividend of $0.035 per share. This amounts to a quarterly total of $0.105 and an annualized rate of $0.42 per share. The fourth quarter payment dates are set for October 15, November 12, and December 10, with record dates on October 6, November 3, and December 2, respectively. The company remains committed to its shareholders, distributing its 123rd to 125th consecutive monthly dividends, emphasizing resilient markets and essential services.

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FAQ

What is the current stock price of Whitestone REIT (WSR)?

The current stock price of Whitestone REIT (WSR) is $14.26 as of December 20, 2024.

What is the market cap of Whitestone REIT (WSR)?

The market cap of Whitestone REIT (WSR) is approximately 728.0M.

What is Whitestone REIT?

Whitestone REIT is a fully integrated real estate investment trust specializing in acquiring, owning, managing, developing, and redeveloping high-quality retail centers.

Where are Whitestone REIT properties located?

Whitestone REIT properties are located in metropolitan areas including Austin, Chicago, Dallas-Fort Worth, Houston, Phoenix, and San Antonio.

How does Whitestone REIT generate revenue?

Whitestone REIT generates revenue primarily through rental incomes from its commercial properties, which are leased to tenants offering essential community services.

What recent achievements has Whitestone REIT accomplished?

Recently, Whitestone REIT declared an increased quarterly cash distribution and filed a definitive proxy statement for its 2024 Annual Meeting of Shareholders. The company has also seen superior total returns under new leadership since January 2022.

What are 'internet-resistant' retail centers?

'Internet-resistant' retail centers refer to commercial properties that cater to essential services which cannot be easily replaced by online shopping, such as food, health and fitness, and financial services.

What forward-looking statements are included in Whitestone REIT's reports?

Whitestone REIT's forward-looking statements include expectations about financial performance and business operations, subject to risks and uncertainties such as economic downturns and regulatory changes.

Who is leading Whitestone REIT currently?

Whitestone REIT is currently led by CEO David Holeman, under whose leadership the company has delivered superior total returns since January 2022.

How can I get more detailed information about Whitestone REIT?

You can visit the company's official website at https://ir.whitestonereit.com/corporate-profile/default.aspx for more detailed and up-to-date information.

What is the significance of the 2024 Proxy Statement filed by Whitestone REIT?

The 2024 Proxy Statement is relevant to shareholders as it contains important information about the matters to be considered at the 2024 Annual Meeting, including the election of board nominees.

How does Whitestone REIT maintain its financial stability?

Whitestone REIT maintains financial stability through strategic acquisitions, redevelopments, and leveraging strong community connections and tenant relationships.

Whitestone REIT

NYSE:WSR

WSR Rankings

WSR Stock Data

728.04M
44.36M
12.41%
62.33%
0.97%
REIT - Retail
Real Estate Investment Trusts
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United States of America
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