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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.

News

Whitestone REIT Files Definitive Proxy Materials and Mails Letter to Shareholders

Rhea-AI Summary
Whitestone REIT (WSR) urges shareholders to vote for its highly qualified trustees on the WHITE proxy card for the 2024 Annual Meeting. Since the CEO change in 2022, Whitestone has excelled in stock performance, achieving high Same Store NOI growth, strong Core FFO outlook, and outperforming peers. Erez Asset Management's proxy contest is criticized for lacking value-adding ideas and risking disruption of Whitestone's progress.
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Whitestone REIT Announces First Quarter 2024 Earnings Webcast and Conference Call

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Whitestone REIT (WSR) to Release Q1 2024 Financial Results on May 1, 2024
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Whitestone REIT Board of Trustees Rejects Nomination of Two Erez Candidates

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Whitestone REIT rejects Erez Asset Management's board nominees due to lack of understanding of the company's operations and focus on asset sale proposal, highlighting strong shareholder returns and governance improvements.
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EREZ NOMINATES TWO CANDIDATES FOR WHITESTONE REIT BOARD OF TRUSTEES

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Erez Asset Management, LLC plans to nominate two candidates for Whitestone REIT's Board of Trustees due to poor capital allocation and governance issues. Whitestone rejected a buyout offer from Fortress Investment Group LLC, leading to concerns about undervalued stock and asset sales below NAV. The company's high debt levels and excessive G&A expenses are highlighted, questioning its attractiveness to investors. Erez's trustee candidates aim to address these issues and provide oversight.
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Whitestone REIT Reports Fourth Quarter and Full Year 2023 Results

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Whitestone REIT (WSR) announces strong financial results for Q4 and full year 2023, with record occupancy, revenue growth, and dividend increase. The company's Core FFO guidance for 2024 is $0.98 - $1.04 per share. Operating metrics show positive trends in NOI, rental revenue, and leasing transactions.
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Whitestone REIT Increases Annual Cash Dividend by 3%

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Whitestone REIT (NYSE: WSR) announces a 3% increase in monthly cash dividend for the second quarter of 2024, reflecting confidence in earnings growth and balance sheet strength.
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Whitestone REIT Acquires Garden Oaks Shopping Center

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Whitestone REIT (NYSE:WSR) acquires Garden Oaks Shopping Center in Houston, a 107,000 leasable square feet center with 96% occupancy, strategically located for significant development. The acquisition is part of Whitestone's capital recycling program, totaling over $80 million in acquisitions, with 9 lower value centers already sold. The center is expected to drive Same Store Net Operating Income growth and aligns with Whitestone's strategy of owning high-quality centers.
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Whitestone REIT Announces Fourth Quarter 2023 Earnings Webcast and Conference Call

Rhea-AI Summary
Whitestone REIT (NYSE:WSR) announced the release of its financial results for Q4 2023 on March 6, 2024. The webcast and conference call to discuss the results will be held on March 7, 2024, led by CEO Dave Holeman. Access information for the call and replay is provided for domestic and international participants. A live webcast and replay will be available on Whitestone's investor relations website, with a transcript posted within 3 days after the call.
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Delaware Court of Chancery Rules in Favor of Whitestone

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Whitestone REIT Operating Partnership, L.P. has won a legal battle against Pillarstone Capital REIT, with the court ruling in Whitestone's favor. The court found that Pillarstone breached the implied duty of good faith and fair dealing by adopting the Rights Agreement ('Poison Pill'), causing harm to Whitestone. Whitestone can now proceed to serve a notice of redemption for its units without fear of repercussions. The court will enter a monetary judgement against Pillarstone for the difference between the amount Whitestone would have received in December 2021 and the current value. With the Poison Pill declared unenforceable, Whitestone has served Pillarstone with a notice of redemption for all of its units. Whitestone anticipates further updates on monetizing its investment in Pillarstone REIT Operating Partnership L.P. on their 4th quarter earnings call on March 7, 2024.
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Whitestone REIT Announces Tax Characteristics of 2023 Distributions

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Whitestone REIT (WSR) released the federal income tax treatment of 2023 cash distributions to holders of common shares. The total distribution per share for 2023 was $0.480000, with $0.469536 being ordinary dividends and $0.010464 being a return of capital. Shareholders are advised to consult with their tax advisors for specific tax treatment.
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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.

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Whitestone REIT

NYSE:WSR

WSR Rankings

#2784 Ranked by Market Cap
#827 Ranked by Dividends

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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