Whitestone Stock Price, News & Analysis

Whitestone REIT (NYSE:WSR) has launched its new “Easy Lease” initiative, aimed at simplifying the leasing process for entrepreneurial clients. This technology-enabled program allows clients to sign a lease today and move in tomorrow, targeting spaces of 2,000-square-feet or less. The initiative promises a mobile-friendly lease form and a streamlined approval process, reducing the lease cycle from days to hours. It aims to enhance client experience and boost occupancy rates, ultimately increasing revenue for the company. Whitestone has a strong history of paying monthly dividends for over 15 years.

Whitestone REIT (NYSE: WSR) has declared a monthly cash dividend of $0.035833 per share, totaling a quarterly amount of $0.1075, and an annualized amount of $0.43 per share. The upcoming dividends will be distributed in July, August, and September 2021, with record and payment dates set for 7/2, 8/3, and 9/2, and payment dates of 7/14, 8/12, and 9/14, respectively. Current yields stand at 5%, with a payout ratio to FFO Core of 44%. The company aims to grow through $230 million in redevelopment and acquisition initiatives, reflecting its commitment to shareholder returns.

Whitestone REIT announced that Paul’s Ace Hardware has renewed its lease for 10 years and will expand its store by approximately 4,000 square feet at the Fountain Hills Plaza property in Arizona. This expansion will increase the store's size from 26,287 to 30,646 square feet, making it one of the largest Ace stores in the Phoenix Metro Area. The renewal strengthens the cash flows for Whitestone’s shareholders, contributing to the long-term security of the property. The center hosts other essential tenants, enhancing its appeal and community value.

Whitestone REIT (NYSE: WSR) reported a net income of $0.03 per diluted share for Q1 2021, totaling $1.4 million. Funds from Operations (FFO) decreased to $0.20 per share, down from $0.21 the previous year. Leasing transactions included 46 new leases totaling $19.9 million and renewal leases with a 9.6% growth rate. However, same-store Net Operating Income (NOI) declined by 4.3%. Despite challenges from COVID-19, 95% of rents were collected in Q1. The company reduced total net debt by $17.2 million, maintaining a balanced capital structure and increasing its dividend by 2.4%.

Whitestone REIT (NYSE:WSR) will report its Q1 financial results for the period ending March 31, 2021, after market close on May 4, 2021. The earnings conference call is scheduled for May 5, 2021, at 11:00 A.M. ET, hosted by CEO Jim Mastandrea and CFO Dave Holeman. Investors can access the call via the company's website, and a replay will be available until May 19, 2021. Whitestone REIT, focused on community-centered shopping centers, has maintained monthly dividends for over 15 years, underscoring its stable financial structure.

Whitestone REIT (NYSE: WSR) announced the appointment of Rebecca Elliott as Vice President of Corporate Communications, effective March 29, 2021. With over 30 years of experience, Elliott will lead corporate communications and investor relations. Chairman and CEO Jim Mastandrea expressed confidence in her ability to enhance stakeholder relationships and shareholder value. Elliott aims to advance Whitestone's growth strategy, focusing on community retail properties and operational excellence. Whitestone REIT has consistently paid monthly dividends for over 15 years.

Whitestone REIT (NYSE:WSR) announced a monthly cash dividend of $0.035833 per share, totaling $0.1075 quarterly and $0.43 annually. The upcoming payment dates are set for April 14, May 13, and June 10, 2021. This marks the company’s 130th consecutive monthly dividend distribution, reflecting its commitment to providing attractive yields despite economic challenges. Chairman Jim Mastandrea praised the sustainability of cash flows and the resilient tenant base, emphasizing that they will continue to support their communities' essential needs.

Whitestone REIT has announced significant leasing successes at its Las Colinas Village property in the thriving Dallas-Fort Worth market, increasing occupancy by 9.4% and NOI by 5.4%. The company's strategic focus on high-growth markets is supported by its location near major employers like ExxonMobil and Microsoft. New tenants, including CityVet and 9Round, are expected to enhance foot traffic as the area recovers post-pandemic. With a portfolio totaling approximately 670,000 square feet in DFW, Whitestone REIT continues to thrive with a strong capital structure.

Whitestone REIT (NYSE: WSR) announced its participation in the Inaugural Emerging Growth Virtual Conference from March 17-19, 2021. Presented by M Vest LLC and Maxim Group LLC, the conference will feature notable industry leaders across various sectors including healthcare, technology, and real estate. Attendees can expect roundtable discussions, issuer presentations, and live Q&A sessions with company executives. Whitestone, focused on community-centered shopping centers, aims to foster local connections within affluent markets, and has a history of consistent monthly dividend payments.