Whitestone Stock Price, News & Analysis

Whitestone REIT (NYSE: WSR) reported a net income of $0.07 per diluted share for Q4 2020 and $0.14 for the full year. The company leads the shopping center industry in foot traffic recovery, achieving 80.4% of previous year's levels compared to the industry average of 48%. Despite challenges from COVID-19, 99% of tenants were open for business, and 95% of Q4 rents were collected. The company reduced total net debt by $12 million and recently increased its quarterly dividend to $0.1075 per share. Cash collections improved, reaching 96% in January 2021.

Whitestone REIT (WSR) has announced a 2.4% increase in its quarterly dividend to $0.1075, starting with an amended payment of $0.035833 per share on March 11, 2021. This marks the company's 127th consecutive monthly dividend since its IPO in August 2010. Factors driving this decision include a successful Crisis Management Strategy during COVID-19, coupled with a resilient, E-Commerce Resistant Business Model. Furthermore, to prioritize dividend increases, named executive officers agreed to reduce their 2020 incentive payments.

Whitestone REIT (NYSE: WSR) announced the 2020 federal income tax treatment of cash distributions for shareholders. The total distribution per share was $0.600000, with ordinary dividends constituting $0.359502 (approximately 59.92% of the total). The report includes several cash distribution details, such as dates and classifications. Shareholders can benefit from Section 199A dividends eligible for a 20% deduction. For personalized tax advice, shareholders are encouraged to consult with their tax advisors.

Whitestone REIT (NYSE:WSR) will announce its fourth quarter and year-end 2020 financial results on February 24, 2021, after market close. A conference call to discuss these results is scheduled for February 25, 2021, at 9:00 A.M. Eastern Time, featuring CEO Jim Mastandrea and CFO Dave Holeman. Investors can access the live webcast via the company's website. Whitestone is recognized for its community-centered shopping centers in affluent Sunbelt markets, and it has maintained a consistent dividend payout for over 15 years.

Whitestone REIT (NYSE: WSR) announced the opening of Gabriella’s American Cuisine in Scottsdale, Arizona, contributing to the region's thriving business ecosystem. Co-owners Anthony and Anna Barr, successful caterers from San Francisco, are joining a rapidly growing community. Scottsdale boasts high migration growth, and the upscale Mercado at Scottsdale Ranch features a diverse retail mix, with household incomes averaging over $134,000. Whitestone emphasizes community connections through local tenants and has a strong capital structure for stability and growth, consistently paying dividends for over 15 years.

Whitestone REIT (NYSE: WSR) announced that its Chairman and CEO, Jim Mastandrea, alongside CFO David Holeman, will present a virtual overview of the company's operations at the Capital One Securities Inaugural REIT Conference on January 11-12, 2021. Whitestone focuses on community-centered retail centers in affluent Sunbelt markets, emphasizing local connections and e-commerce resilience. The company has a solid history of paying monthly dividends for over 15 years, supported by a strong capital structure, aiming for consistent performance across economic cycles.

Whitestone REIT (NYSE: WSR) announced that Jim Mastandrea, Chairman and CEO, along with CFO David Holeman, will present a virtual overview of the company's business at the ICR Annual Conference 2021 on January 11, 2021. As a community-centered REIT, Whitestone is focused on acquiring and managing high-quality retail centers in affluent Sunbelt markets. The company has a strong track record of paying monthly dividends for over 15 years and aims to foster local connections through a diverse tenant mix. For more information, visit www.whitestonereit.com.

Whitestone REIT's “Coffee and Cars” event in North Scottsdale, Arizona, has led to a remarkable 26% increase in foot traffic to the Market Street at DC Ranch property. Starting again on January 2nd, the event showcases over 150 exotic cars monthly, contributing to local sales growth for tenants. CEO Jim Mastandrea indicated the event's success exceeded expectations, prompting plans to expand similar events to other Whitestone locations in Texas. Whitestone REIT is recognized for its community-centered approach, consistently paying dividends for over 15 years.

Whitestone REIT (NYSE: WSR) reported strong performance despite COVID-19 challenges. Fourth quarter rental collections reached 94%, the highest in the shopping center sector. The company achieved a foot traffic recovery rate of 80.4%, outperforming industry averages. Additionally, renewal leases saw a 9.8% increase, while occupancy held steady at 89%-90%. Whitestone also fully repaid $30 million in COVID-19 liquidity borrowings, enhancing its financial stability. The firm published its inaugural Corporate Responsibility & Sustainability Report, reflecting its commitment to community engagement.