Whitestone Stock Price, News & Analysis

Whitestone REIT (NYSE: WSR) announced a long-term lease with EoS Fitness for 51,000 square feet at Williams Trace Plaza in Sugar Land, Texas. The partnership aims to replace an underutilized grocer, enhancing traffic and tenant demand. The move aligns with Whitestone's community-centered strategy and is expected to boost investment returns and future earnings growth. With a record occupancy of 92.5% in Q3 2022, the company continues to target growth in thriving markets. EoS Fitness is noted for its high-quality health and wellness offerings and strong community engagement.

Whitestone REIT (NYSE:WSR) announced the completion of approximately $36 million in property dispositions since Q3 2022, yielding net proceeds of about $34 million. The sales, completed at a 5.6% capitalization rate, are part of the Company's asset management strategy. The proceeds will be allocated for debt reduction and future acquisitions aimed at enhancing earnings and improving debt metrics. Key properties sold include locations in Houston and Phoenix, with an occupancy rate of 90.3% and average base rent of $14.51.

Whitestone REIT (NYSE: WSR) announced strong Q3 2022 results, reporting revenues of $35.4 million, up from $32.4 million YoY. Net income rose to $3.9 million ($0.08 per diluted share), while FFO per diluted share increased to $0.24. The company achieved a record occupancy rate of 92.5%, with notable growth in rental rates. Revised 2022 guidance estimates net income of $0.35 - $0.38 per share and FFO of $1.00 - $1.02 per share. The upcoming dividend of $0.12 per share represents an 11.6% increase from last year.

Whitestone REIT (NYSE:WSR) announced it will release its third quarter financial results for the period ending September 30, 2022, after market close on November 1, 2022. A conference call to discuss these results will take place on November 2, 2022, at 8:00 A.M. Eastern Time, led by CEO Dave Holeman. Investors can access the conference call through the company's website, with a replay available until November 16, 2022. Whitestone REIT focuses on acquiring and managing open-air retail centers in growing markets such as Phoenix, Austin, Dallas-Fort Worth, Houston, and San Antonio.

Whitestone REIT (NYSE: WSR) has amended and extended its $515 million credit facility, which includes a $250 million revolver and a $265 million term loan. The facility can increase to $715 million and features attractive terms with maturity dates extending to 2028. The interest rates are tied to the Base Rate or Adjusted Term SOFR, with an ESG pricing provision allowing for margin adjustments based on sustainability targets. CEO Dave Holeman emphasized the facility's role in enhancing liquidity and financial flexibility, showcasing the company's strong balance sheet.

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.