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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 strong fourth quarter and full year 2021 results, showcasing a revenue increase to $33.3 million from $29.8 million year-over-year. Net income for the fourth quarter was $2.6 million, down from $3.1 million, while FFO per share was $0.21, slightly below $0.23. The company reported a 12.8% growth in same-store NOI. A notable increase in dividend by 11.6% was declared. For 2022, guidance estimates GAAP net income per share of $0.35 to $0.39. Whitestone focuses on maximizing shareholder value and prudent capital allocation.

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Whitestone REIT (NYSE: WSR) has announced an increase in its monthly cash dividend to $0.04 per share from $0.035833, reflecting a quarterly total of $0.12 and an annualized $0.48, marking an 11.6% increase. This decision, made by the Board of Trustees, showcases the company's operational and financial improvements. The dividend payment dates for the second quarter are set for April 14, May 12, and June 14, 2022. CEO Dave Holeman expressed confidence in the company's growth strategy and its talented team.

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Whitestone REIT (NYSE: WSR) announced leadership transitions effective immediately. Christine Mastandrea has been promoted to Chief Operating Officer, overseeing operations and strategic initiatives. Peter Tropoli becomes Corporate Secretary, and Michelle Siv is now Vice President of Human Resources. Departures include John Dee and Bradford Johnson. David Mordy joins as Director of Investor Relations, and Michael Ly as Controller. CEO Dave Holeman expressed confidence in the new leadership team's ability to enhance operational excellence and shareholder returns.

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Whitestone REIT announced the termination of its shareholder rights plan, also known as a “poison pill,” effective February 7, 2022, ahead of the scheduled expiration date of May 13, 2022. This move aligns with the company's commitment to corporate governance best practices, as noted by CEO David Holeman, who emphasized the importance of shareholder feedback in this decision. Whitestone, operating primarily in affluent Sunbelt markets, has a history of consistent monthly dividend payments for over 15 years, backed by a strong and balanced capital structure.

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Whitestone REIT (NYSE: WSR) has disclosed the federal income tax treatment of its 2021 cash distributions to common shareholders. For 2021, the total distribution per share is reported at $0.428330, with ordinary dividends amounting to $0.345600 and an unrecaptured Section 1250 gain of $0.082730. Shareholders are advised to consult their tax advisors for personalized guidance on the tax treatment of these distributions. Whitestone REIT focuses on community-centered shopping centers in affluent markets across the Sunbelt, paying monthly dividends for over 15 years.

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Whitestone REIT (NYSE:WSR) will release its financial results for Q4 and year-end 2021 on March 1, 2022. A conference call and webcast will follow on March 2, 2022, at 11:00 AM ET, providing detailed insights into the company's performance. Investors can access the earnings release and supplemental data via the Investor Relations section of the company's website. Whitestone has maintained a commitment to monthly dividends for over 15 years, highlighting its stability and growth potential in the competitive REIT market.

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Whitestone REIT (NYSE: WSR) announced a leadership change on January 18, 2022, appointing Dave Holeman as CEO and Scott Hogan as CFO. This followed the termination of James Mastandrea for cause due to violations of company standards, although it was not related to the firm's financial performance. The Board emphasized their commitment to corporate governance and confidence in the company's operations and assets. Whitestone's upcoming financial results for Q4 2021 will be reported in early March.

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Whitestone REIT (NYSE: WSR) has declared a monthly cash dividend of $0.035833 per share for the first quarter of 2022, totaling $0.1075 quarterly or $0.43 annually. This marks the company's 137th, 138th, and 139th consecutive monthly dividend distributions. With a current annual yield of 4.5% that exceeds the shopping center industry average of 3.3%, the dividend payout ratio to FFO Core stands at 43%, lower than the industry average of 53%. Notably, Whitestone continues to achieve increased occupancy rates and improve its debt leverage ratio.

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Whitestone REIT (NYSE:WSR) has acquired Anderson Arbor, an open-air shopping center in northwest Austin, Texas, enhancing its portfolio in high-growth areas. This acquisition increases Whitestone's total leasable area in the Austin-San Antonio market to approximately 734,000 square feet. Anderson Arbor, which is 90.9% leased, is projected to add $2.5 million to revenues in 2022. The center benefits from a strong demographic profile and is strategically located near major corporations, providing significant growth opportunities.

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Whitestone REIT (NYSE: WSR) has maintained strong demand for its restaurant spaces, comprising 18% of its gross leasable area, offering a 35% rental premium. The company has quickly filled vacancies, primarily with local restaurants that adapted well during the pandemic. With a focus on high-quality dining experiences, Whitestone’s properties are attracting restaurateurs seeking second-generation spaces, which ease costs and expedite openings. New restaurants, including Hudson House and Prey, are set to enhance the dining landscape in their respective locations.

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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%
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