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 strong second quarter 2022 results, reporting occupancy at a record 91.5% and an 8% increase in Same Store NOI. Revenue rose to $35 million, up from $30.6 million year-over-year. Net income attributable to common shareholders decreased to $4.3 million, or $0.09 per diluted share, while FFO per share increased to $0.25. The company declared a dividend of $0.12 for Q4 2022, reflecting an 11.6% increase from Q4 2021. Whitestone reaffirms 2022 guidance for net income per share of $0.35-$0.39 and FFO of $0.98-$1.02.
Whitestone REIT (NYSE: WSR) announced a monthly cash dividend of $0.04 per share, totaling $0.12 quarterly and $0.48 annually. The fourth quarter distribution dates are: October 4 (payable Oct 12), November 2 (payable Nov 14), and December 2 (payable Dec 14), 2022. The company focuses on acquiring and developing open-air retail centers in rapidly growing areas including Phoenix, Austin, Dallas-Fort Worth, Houston, and San Antonio. This dividend reflects the company’s commitment to returning value to shareholders.
Whitestone REIT (NYSE:WSR) announced it will release its financial results for Q2 ending June 30, 2022, after the market closes on August 2, 2022. A webcast and conference call will follow on August 3, 2022, at 8:00 A.M. Eastern Time, led by CEO Dave Holeman. Investors can access the call via the Company's website, and a replay will be available until August 17, 2022. The earnings release and supplemental data will be posted in the Investor Relations section of its website, highlighting Whitestone's focus on community-centered retail centers in rapidly growing markets.
Whitestone REIT (NYSE: WSR) has announced that CEO Dave Holeman will participate in a “Fireside Chat” at NAREIT’s 2022 REITweek on June 8, 2022, at 7:00 Central / 8:00 Eastern. The chat will be hosted by JMP Securities Analyst Mitch Germain. An audio link for the event is available, and a replay will also be provided afterward.
Whitestone is focused on community-centered retail centers in rapidly growing markets like Phoenix and Austin, emphasizing service-oriented tenants.
Whitestone REIT (NYSE: WSR) announced a monthly cash dividend of $0.04 per share, totaling $0.12 for the quarter and an annualized $0.48. The Board's decision reflects confidence in the company's strength, management team, and growth prospects. The dividend payment dates are set for July (7/13/2022), August (8/12/2022), and September (9/14/2022). Whitestone focuses on community-centered open-air retail centers in rapidly growing markets like Phoenix and Austin, enhancing its market position through strong tenant relationships.
Whitestone REIT (NYSE: WSR) announced its inclusion in the MSCI US REIT Index, effective May 31, 2022. This addition follows the May 2022 Semi-Annual Index Review for the MSCI Equity Indexes, enhancing the visibility of WSR among institutional investors. Whitestone REIT focuses on community-centered open-air retail centers in rapidly growing markets, including Phoenix and Austin. The company emphasizes strong tenant relationships and a diverse mix of service-oriented businesses, which are key to its growth strategy.
Whitestone REIT (NYSE: WSR) reported strong Q1 2022 results, with revenues of $34.1 million, up from $29.0 million in Q1 2021. Net income attributable to common shareholders increased to $7.1 million ($0.14 per share) compared to $1.4 million ($0.03 per share) last year. Key metrics include Same Store NOI growth of 12.9% and FFO per diluted share of $0.30, reflecting a one-time compensation benefit. The company reaffirmed its 2022 guidance, projecting FFO between $0.98 to $1.02 per share and a 11.6% increase in dividends. Operating occupancy rose to 91.0%.
Whitestone REIT (NYSE: WSR) has announced key promotions to enhance its leasing operations. The leadership changes aim to support the company’s community-centered leasing strategy and drive occupancy beyond last year’s record levels. Matthew Okmin has been appointed Regional Senior VP for Arizona, David Spagnolo as Regional VP for Dallas/Austin, and Wendell Nault as Director of Leasing in Houston. These initiatives reflect Whitestone's commitment to leverage talent from within and its growth in key markets like Phoenix, Austin, and Dallas-Fort Worth.
On March 28, 2022, Whitestone REIT (NYSE: WSR) announced a significant amendment to its bylaws, allowing shareholders the right to propose changes. This Bylaw Amendment requires shareholder approval at a meeting and enhances governance oversight through an ESG Steering Committee. The changes aim to align Whitestone's practices with high governance standards. The amendments are set for ratification at the upcoming 2022 annual shareholder meeting. Whitestone continues to prioritize strong corporate governance amidst its focus on community-centered shopping centers.
Whitestone REIT (NYSE:WSR) will announce its first quarter financial results for the period ending March 31, 2022, after market close on May 3, 2022. A conference call to discuss these results will take place on May 4, 2022, at 8:00 A.M. ET, led by CEO Dave Holeman. Investors can access the call via the Investor Relations section of the company's website. A replay will be available until May 18, 2022. Whitestone REIT focuses on high-quality open-air neighborhood centers in growth markets, providing stability and consistent monthly dividends.
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