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.
Whitestone REIT (NYSE:WSR) announced it will release its financial results for Q1 2023 after market close on May 2, 2023. A webcast and conference call will be held on May 3, 2023, at 8:00 A.M. ET to discuss the results, led by CEO Dave Holeman. The call will be accessible via dial-in numbers provided for domestic and international participants, with a passcode required. A replay will be available until May 17, 2023. Whitestone focuses on acquiring and operating community-centered retail centers in high-growth markets such as Phoenix, Austin, Dallas-Fort Worth, Houston, and San Antonio.
Whitestone REIT (NYSE: WSR) announced a monthly cash dividend of $0.04 per share, totaling $0.12 for the second quarter of 2023. This leads to an annualized dividend of $0.48 per share, providing shareholders with an approximate 5% yield. The dividends will be distributed in April, May, and June, with respective record dates on April 4, May 2, and June 2, and payment dates on April 11, May 11, and June 13. CEO Dave Holeman stated that the company is focused on improving financial performance while working towards a debt/EBITDAre ratio of approximately 7x by year-end 2023.
Whitestone REIT (WSR) reported strong fourth quarter and full year 2022 results, highlighting a record occupancy rate of 93.7%, a 240 basis point increase. Revenue rose to $34.9 million for Q4 2022, up from $33.3 million in Q4 2021, while net income reached $19.9 million, up significantly from $2.6 million. The Funds from Operations (FFO) per share increased nearly 20% to $1.03 for the full year. The company’s same-store NOI grew by 7.9% year-over-year. For 2023, Whitestone anticipates net income per share of $0.29 to $0.33 and FFO per diluted share of $0.95 to $0.99. The fourth quarter dividend reflects an 11.6% increase from 2021.
Whitestone REIT (NYSE: WSR) announced the federal income tax treatment of 2022 cash distributions for its common shareholders. For the total distribution of $0.467499 per share, all of it qualifies as ordinary dividends. The distributions were made on a monthly basis throughout 2022, with specific amounts of $0.035833 for the first three months and increasing to $0.040000 in the latter months. Shareholders are advised to consult their tax advisors for personalized tax treatment regarding these distributions.
Whitestone focuses on community-centered, open-air retail centers in high-growth markets across Texas and Arizona.
Whitestone REIT (NYSE:WSR) announced an investment grade issuer credit rating from Kroll Bond Rating Agency (KBRA) of BBB- with a Stable Outlook. This rating signifies the strength and progress of Whitestone over the past year, according to CFO Scott Hogan. The investment grade status will enhance the company's access to capital at competitive rates, facilitating future growth opportunities. KBRA conducted a thorough review of the company's strategy and operations.
Whitestone REIT specializes in acquiring, owning, and operating community-centered retail centers in rapidly growing markets, including Phoenix, Austin, Dallas-Fort Worth, Houston, and San Antonio.
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