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 (WSR) specializes in community-focused retail centers and commercial properties, offering investors stable returns through strategic asset management. This page provides authoritative coverage of the company’s latest developments, financial updates, and market positioning.
Access real-time press releases, earnings reports, and strategic announcements in one centralized location. Track WSR’s acquisitions, property redevelopments, and operational milestones while staying informed about its performance in key markets like Phoenix, Houston, and Dallas-Fort Worth.
Key updates include leasing activity, capital allocation decisions, and portfolio enhancements. Investors benefit from transparent reporting on rental revenue trends, tenant diversification strategies, and governance practices that drive long-term value creation.
Bookmark this page for continuous access to Whitestone REIT’s verified news. Check back regularly for insights into its internet-resistant property strategy and community-centric approach to commercial real estate.
Whitestone REIT (NYSE: WSR) has announced a 9% increase in its quarterly dividend, raising it to $0.135 per share for the first quarter of 2025. The dividend will be paid in three monthly installments of $0.045 per share. CEO Dave Holeman confirmed the company's 2024 Core FFO per share guidance, targeting 11% year-over-year growth at the midpoint.
The company expects to maintain a healthy payout ratio of approximately 50% of Core FFO while continuing its strategy of growing earnings, increasing dividend levels, and strengthening its balance sheet through lower debt leverage. Monthly distributions for Q1 2025 are scheduled for January 14, February 11, and March 11, 2025.
MCB Real Estate has withdrawn its proposal to acquire Whitestone REIT (NYSE: WSR) following the board's refusal to engage in meaningful discussions. MCB had offered $15 per share in an all-cash transaction, representing a 14.5% premium to Whitestone's share price before their initial June 3, 2024 proposal and a 61.8% premium to the price before the Fortress proposal. As Whitestone's largest actively managed shareholder with 9.4% ownership, MCB criticizes the board's entrenchment and lack of strategic review process. The company threatens potential board removal at the next annual meeting if the pattern of delay continues.
Whitestone REIT (NYSE: WSR) has appointed two new independent trustees to its Board: Kristian M. Gathright and Donald A. Miller, effective immediately. Gathright, former Executive VP and COO of Apple Hospitality REIT, brings extensive operational and strategic experience, including B2C knowledge and Board expertise. Miller, former CEO of Piedmont Office Realty Trust, contributes significant real estate leadership experience and Sun Belt market expertise. These appointments maintain the Board at six trustees, with five being independent, as Nandita V. Berry and David F. Taylor step down.
MCB Real Estate, managing approximately $3 billion in assets, has issued a statement regarding its $15.00 per share cash proposal to acquire Whitestone REIT (NYSE: WSR). The offer represents a 14.5% premium to Whitestone's share price prior to MCB's initial June 2024 proposal and a 61.8% premium to the price before the rumored Fortress proposal in October 2023. The Whitestone Board has rejected MCB's improved proposal and refused to engage in meaningful discussions. MCB highlights that Whitestone delivered only 0.1% total shareholder returns under current management before takeover interest emerged, and questions the board's refusal to grant due diligence or explore strategic alternatives.
Whitestone REIT (NYSE: WSR) has unanimously rejected MCB Real Estate's $15 per share indication of interest, stating it undervalues the company based on Net Asset Value and Discounted Cash Flow analysis. The Board emphasized the company's strong performance, highlighting key metrics including: targeted 11% growth in 2024 Core FFO per share ($0.98-$1.04), increased Same Store NOI growth target of 3.75%-4.75%, improved Debt/EBITDAre ratio of 7.2x, and over 60% total shareholder returns since January 2022. The Board views the offer as opportunistically timed while the company gains momentum under new management.
Whitestone REIT (NYSE: WSR) reported strong Q3 2024 results with revenues of $38.6 million, up from $37.1 million in Q3 2023. Net income reached $7.6 million ($0.15 per share), compared to $2.5 million ($0.05 per share) in Q3 2023. The company achieved 4.6% Same Store NOI growth and 25.3% GAAP leasing spreads, with occupancy reaching 94.1%. Management raised Same Store NOI guidance to 3.75-4.75% and maintained Core FFO guidance projecting 11% year-over-year growth at midpoint. The company improved its Debt to EBITDAre ratio to 7.2x and secured a new $20 million term loan at 5.2% interest rate.
Whitestone REIT (NYSE:WSR) has announced its plans to release third quarter 2024 financial results after market close on Wednesday, October 30, 2024. The company will host a webcast and conference call to discuss these results on Thursday, October 31, 2024, at 8:30 A.M. Eastern Time. CEO Dave Holeman will lead the call.
Participants can access the call using the following details:
- Domestic dial-in: 1-877-407-0784
- International dial-in: 1-201-689-8560
- Passcode: 13742564
Whitestone REIT (NYSE: WSR) has announced its fourth quarter 2024 dividend. The Board of Trustees declared a monthly cash dividend of $0.04125 per share on the Company's common shares and operating partnership units. This translates to a quarterly amount of $0.12375 per share and an annualized amount of $0.495 per share. The dividend will be distributed in three installments:
- October: Record date 10/2/2024, Payment date 10/10/2024
- November: Record date 11/4/2024, Payment date 11/14/2024
- December: Record date 12/3/2024, Payment date 12/12/2024
Each monthly distribution will be $0.04125 per share/unit.
Whitestone REIT (NYSE: WSR) reported strong Q2 2024 results, with 6.6% Same Store Net Operating Income growth and GAAP leasing spreads of 33% on new leases. Key highlights include:
- Revenues of $37.6 million, up from $36.5 million in Q2 2023
- Net Income of $2.6 million, or $0.05 per diluted share
- Core FFO of $12.6 million, or $0.24 per diluted share
- Occupancy at 93.5%
- Net Effective Annual Base Rental Revenue per leased square foot up 5.4% to $24.00
The company reiterated its 2024 Core FFO per share guidance, projecting 11% year-over-year growth at the midpoint. Whitestone's focus on high-growth Sunbelt markets and strong leasing environment contribute to its positive outlook.
Whitestone REIT (NYSE:WSR) announced it will release its second-quarter financial results for the period ending June 30, 2024, after the market closes on July 31, 2024.
A webcast and conference call to discuss these results will take place on August 1, 2024, at 8:30 AM Eastern Time, led by CEO Dave Holeman.
Domestic participants can dial 1-877-407-0784, and international participants can dial 1-201-689-8560, using passcode 13742563. A replay will be available until August 15, 2024, via 1-844-512-2921 (domestic) and 1-412-317-6671 (international), passcode 13742563.
Listeners can access the live webcast and replay via Whitestone's investor relations website.
