Whitestone Stock Price, News & Analysis

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.

Whitestone REIT has enhanced its Fountain Hills Plaza property in Arizona by signing a lease with AutoZone, resulting in a 3.5% increase in occupancy and a 6.3% boost in net operating income. This strategic move not only diversifies tenant offerings but also strengthens cash flow for shareholders. The presence of AutoZone, alongside existing tenants like Bashas', Ace Hardware, and Verizon, highlights the community-centric approach of Whitestone, especially during the ongoing pandemic, which has shown increased foot traffic in the area.

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.