Whitestone Stock Price, News & Analysis

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.

Whitestone REIT (NYSE: WSR) reported third-quarter 2021 results showcasing a net income of $2.9 million, or $0.06 per share, compared to $0.9 million or $0.02 per share in Q3 2020. Revenue rose to $32.4 million, a 7% increase in Same-Store Net Operating Income (NOI) to $20.7 million, and an improvement in debt-to-EBITDA ratio to 8.1X. The Company continues to target high-growth markets for expansion, with significant leasing activity reflected in a 13.1% rental rate growth. A quarterly dividend of $0.1075 was announced for Q4 2021.

Whitestone REIT (NYSE:WSR) announced it will release its Q3 financial results after market close on October 26, 2021. A conference call will follow on October 27, 2021, at 11:00 A.M. ET, featuring CEO Jim Mastandrea and CFO Dave Holeman. Interested parties can access the call via the Investor Relations section of the Whitestone website. The earnings release and supplemental data will be available on its site, with a mail option for those without internet access. Whitestone REIT has maintained monthly dividends for over 15 years, supported by a strong capital structure.

Whitestone REIT (NYSE: WSR) announced its fourth quarter 2021 monthly cash dividend of $0.035833 per share, totaling $0.1075 quarterly and an annualized $0.43. This represents a 41% payout ratio of FFO Core. The dividend payment dates are October 14, November 12, and December 13, 2021. Whitestone's annual dividend yield stands at 4.4%, outperforming the industry average of 3.5%. The company aims to sustain predictable dividends and growth opportunities through a robust business model, managing costs effectively with rent increases built into leases.

Whitestone REIT (NYSE: WSR) reported a strong recovery, highlighting a 17.9% increase in foot traffic from 4Q2020 to 2Q2021. The company's strategic focus on high-growth markets in Arizona and Texas has led to significant leasing activity, with a 100% year-over-year increase in new tenant square footage. Over the past decade, populations in these states have surged, enhancing economic prospects. CEO Jim Mastandrea stated the company capitalizes on long-term trends, positioning its portfolio to serve essential lifestyle needs in rapidly growing communities.

Whitestone REIT (NYSE: WSR) unveiled its Q2 2021 operating and financial results, showcasing a solid recovery amidst economic recovery. Key figures include net revenues of $30.6 million, with a net income of $5.1 million or $0.12 per share, marking a significant increase from Q2 2020. Funds from Operations (FFO) core reached $11.9 million, or $0.26 per share. The company reported improved occupancy rates at 89.9% and successfully reduced its debt, achieving a debt-to-EBITDA ratio of 8.2X. These results affirm Whitestone's strategy in high-growth markets.

Whitestone REIT (NYSE:WSR) has acquired Lakeside Market, a 163,000 square-foot open-air shopping center in Plano, Texas, adjacent to a new H-E-B grocery store, set to open in Fall 2022. This acquisition marks Whitestone's ninth property in the Dallas-Ft. Worth area, increasing its total leasable space in the region to approximately 831,000 square feet. The acquisition is expected to generate $2.3 million in revenue for the remainder of 2021 and $5.2 million in 2022. Lakeside Market is strategically located in a high-income area, currently 80.5% occupied.

Whitestone REIT (NYSE:WSR) will announce its Q2 financial results on August 3, 2021, after market close. A webcast and conference call is scheduled for August 4, 2021, at 11:00 A.M. ET, led by CEO Jim Mastandrea and CFO Dave Holeman. Investors can access the webcast via the Company's website. The call will be recorded with replay options available until August 18, 2021. Established over 15 years ago, Whitestone REIT focuses on community-centered shopping centers in affluent Sunbelt markets and has a history of consistent monthly dividend payments.