Welcome to our dedicated page for Whitestone REIT news (Ticker: WSR), a resource for investors and traders seeking the latest updates and insights on Whitestone REIT stock.
Whitestone REIT reports news on its community-centered real estate investment trust business, including open-air retail centers it acquires, owns, operates, develops, and redevelops in Phoenix, Austin, Dallas-Fort Worth, Houston, and San Antonio. Updates commonly cover operating results, occupancy and Core FFO measures, leasing activity, tenant additions, and portfolio activity at neighborhood and mixed-use centers.
Company announcements also address dividend declarations, distribution tax characteristics, share repurchase authorization, capital-structure actions, material agreements, shareholder voting matters, and governance disclosures. Whitestone’s centers are merchandised around service-oriented tenants such as restaurants, grocers, health and fitness providers, financial and logistics services, education, and entertainment.
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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.
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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.
Whitestone REIT (NYSE: WSR) reported its Q2 2020 financial results, revealing a net income of $0.4 million, or $0.01 per diluted share. Funds from Operations (FFO) were $8.4 million, or $0.19 per share, a decrease due to $2.8 million in bad debt related to COVID-19. The company collected 81% of Q2 contractual rents and 86% of July rents. Despite a 7.9% decrease in Same-store Net Operating Income, rental rates on new and renewal leases increased by 6.7% and 12.4% respectively. Whitestone holds $45 million in cash and has no immediate debt maturities.
Whitestone REIT (NYSE: WSR) announced that CEO Jim Mastandrea will participate in a webinar titled The Impact of the COVID-19 Pandemic on Real Estate on June 23, 2020. This panel will address the pandemic's effects on their operations and strategies, including potential changes in customer behavior and the timeline for recovery.
Whitestone focuses on acquiring and managing retail centers in affluent markets across the Sunbelt, emphasizing its role in delivering essential services. For additional details, visit whitestonereit.com.