Welcome to our dedicated page for Whitestone news (Ticker: WSR), a resource for investors and traders seeking the latest updates and insights on Whitestone stock.
Whitestone REIT (NYSE: WSR) is a community-centered real estate investment trust focused on open-air, convenience-oriented retail centers in high-growth markets across Texas and Arizona. The Whitestone REIT news feed on this page aggregates company press releases, market announcements, and third-party coverage related to WSR stock and its operations.
Readers can follow updates on Whitestone’s acquisitions and property activity, including neighborhood shopping center purchases such as World Cup Plaza in Frisco, Texas, and Ashford Village in Houston, as well as property-level initiatives like remerchandising and occupancy milestones at centers such as The Promenade at Fulton Ranch in Chandler, Arizona. These stories illustrate how Whitestone curates tenant mixes and manages its portfolio of open-air retail centers.
The news stream also captures financial and corporate developments, such as quarterly and year-to-date operating results, Same-Store NOI trends, rental rate growth, and updates on Whitestone’s unsecured credit facility and at-the-market equity program. Dividend announcements, including changes in payment schedules and declared distribution amounts, appear alongside information on share repurchase authorizations and other capital allocation decisions disclosed in press releases and Form 8-K filings.
Another important category of coverage relates to strategic and shareholder matters. Recent items include Whitestone’s acknowledgement of an unsolicited, non-binding acquisition proposal from MCB Real Estate and subsequent public letters from MCB discussing its ownership stake and proposed purchase price. These communications provide context for investors tracking potential corporate transactions involving WSR.
By reviewing this news page, investors and researchers can see how Whitestone communicates about its neighborhood-focused retail strategy, portfolio performance, financing arrangements, and shareholder-related proposals. For deeper analysis, individual articles can be read in full to understand the details behind each headline and how they relate to Whitestone REIT’s broader business model.
Whitestone REIT (NYSE: WSR) announced the opening of ALMA, a restaurant by entrepreneur Sheila Bryson, in Scottsdale Seville, AZ. This opening marks Bryson's fourth restaurant following successful ventures such as Soul Café and Vic & Ola’s. ALMA, focusing on authentic Southwestern and Mexican cuisine, is set in a prime location with high traffic counts and nearby luxury developments. CEO Jim Mastandrea expressed pride in supporting local entrepreneurs and highlighted the strength of their tenant base even during COVID. Whitestone REIT has consistently paid monthly dividends for over 15 years.
Whitestone REIT (NYSE: WSR) is hosting its 'Coffee and Cars' event on December 5th, showcasing around 200 exotic cars at Market Street at DC Ranch in Scottsdale, Arizona. The event, co-sponsored by Scuderia Southwest, aims to enhance community engagement and boost local businesses. Previous events have resulted in up to a 25% sales increase for tenants. With expected attendance over 1,000, this initiative reflects Whitestone's strategy of creating thriving communities through local connections and events.
Whitestone REIT (NYSE: WSR) will host the Scottsdale Motorsports Gathering starting November 7, 2020, from 7 am to 10 am at its Market Street at DC Ranch location. The event, free for spectators, features over 60 member cars and welcomes non-member vehicles for a fee. Attendees can enjoy breakfast treats from local retailers. CEO Jim Mastandrea emphasizes the win-win partnership with Scuderia Southwest, aiming to enhance foot traffic and community engagement. This monthly gathering reflects a growing interest in outdoor events, showcasing high-performance cars and fostering local connections.
Whitestone REIT (WSR) announced its Q3 2020 results, highlighting net income of $0.9 million ($0.02 per diluted share) and funds from operations (FFO) of $8.5 million ($0.19 per share). The company reported a 4.5% drop in same-store net operating income (NOI) and has successfully collected 90% of its Q3 rents. Notably, occupancy for wholly owned properties decreased to 88.9%. Despite challenges from the COVID-19 pandemic, 97% of tenants remained operational. Whitestone maintains a strong balance sheet with $40.7 million in cash and has reduced real estate debt by $9.5 million.
Whitestone REIT (NYSE: WSR) reported a strong 90% rental collection rate for Q3-2020, a significant increase from 81% in Q2-2020. All 53 properties are operational, with 97% of tenants open based on annualized base rent. Only 10 out of 1,386 tenants closed due to bankruptcy, equating to less than 0.5% of annualized base rent. The company emphasizes its commitment to tenant support during the COVID-19 pandemic and maintains a well-covered dividend yielding about 7%. The current share price is viewed as a unique investment opportunity due to a COVID-related discount to net asset value.
Whitestone REIT (WSR) will release its third-quarter financial results for the period ending September 30, 2020, on October 26, 2020, after market close. A conference call, led by CEO Jim Mastandrea and CFO Dave Holeman, will take place on October 27, 2020, at 8:30 A.M. ET. Investors can access the call via the company's website. Whitestone, a REIT focused on community-centered shopping centers in fast-growing Sunbelt markets, has a history of consistent monthly dividend payments for over 15 years.
Whitestone REIT (NYSE:WSR) has declared a monthly cash dividend of $0.035 per share. This amounts to a quarterly total of $0.105 and an annualized rate of $0.42 per share. The fourth quarter payment dates are set for October 15, November 12, and December 10, with record dates on October 6, November 3, and December 2, respectively. The company remains committed to its shareholders, distributing its 123rd to 125th consecutive monthly dividends, emphasizing resilient markets and essential services.
Whitestone REIT (NYSE: WSR) announced that Jim Mastandrea, Chairman and CEO, and Dave Holeman, CFO, will present a business overview at the BMO 2020 Real Assets Virtual Conference on September 2-3, 2020. The company focuses on community-centered retail, acquiring and managing high-quality centers in affluent markets in the Sunbelt region. Whitestone has paid monthly dividends for over 15 years, emphasizing stability and growth even in economic downturns. For more information, visit www.whitestonereit.com.
FAQ
What is the current stock price of Whitestone (WSR)?
What is the market cap of Whitestone (WSR)?
