Whitestone REIT Receives Investment Grade Credit Rating
Rhea-AI Summary
Whitestone REIT (NYSE:WSR) announced an investment grade issuer credit rating from Kroll Bond Rating Agency (KBRA) of BBB- with a Stable Outlook. This rating signifies the strength and progress of Whitestone over the past year, according to CFO Scott Hogan. The investment grade status will enhance the company's access to capital at competitive rates, facilitating future growth opportunities. KBRA conducted a thorough review of the company's strategy and operations.
Whitestone REIT specializes in acquiring, owning, and operating community-centered retail centers in rapidly growing markets, including Phoenix, Austin, Dallas-Fort Worth, Houston, and San Antonio.
Positive
- Achieved an investment grade credit rating of BBB- from KBRA.
- Stable Outlook indicates a solid financial position.
- Enhanced access to capital sources at competitive rates.
- Supports future growth opportunities.
Negative
- None.
News Market Reaction – WSR
In the trading session that priced this news, WSR gained 0.40%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
HOUSTON, Jan. 20, 2023 (GLOBE NEWSWIRE) -- Whitestone REIT (NYSE:WSR) (“Whitestone” or the “Company”) today announced that it received an investment grade issuer credit rating from Kroll Bond Rating Agency, Inc. (“KBRA”) of BBB- with Stable Outlook.
“We are very pleased to have an investment grade rating from KBRA, which reflects the strength of our enterprise and the progress we have made over the last year,” stated Scott Hogan, Whitestone REIT CFO. “This investment grade rating will expand our access to additional capital sources at competitive rates and support our ability to pursue future growth opportunities.”
KBRA completed a though review of Whitestone’s strategy and operations and the report is available on their website (requires account creation).
About Whitestone REIT
Whitestone REIT (NYSE: WSR) is a community-centered real estate investment trust (REIT) that acquires, owns, operates, and develops open-air, retail centers located in some of the fastest growing markets in the country: Phoenix, Austin, Dallas-Fort Worth, Houston and San Antonio.
Our centers are convenience focused: merchandised with a mix of service-oriented tenants providing food (restaurants and grocers), self-care (health and fitness), services (financial and logistics), education and entertainment to the surrounding communities. The Company believes its strong community connections and deep tenant relationships are key to the success of its current centers and its acquisition strategy. For additional information, please visit the Company's investor relations website.
Investor and Media Contact:
David Mordy
Director of Investor Relations
Whitestone REIT
(713) 435-2219
ir@whitestonereit.com
