Whitestone Earnings Reports

Whitestone REIT posted a solid fourth quarter with revenue increasing by 9% year-over-year to $40.8 million. Net income rose significantly to $17.3 million, including a $0.23 per share gain on the sale of properties. Core FFO per share increased to $0.28, reflecting continued operational improvements. The company achieved strong same-store NOI growth of 5.8%, extending its leasing momentum.

Whitestone REIT announced strong Q3 2024 results, featuring a 4.6% increase in Same Store Net Operating Income, GAAP leasing spreads of 25.3%, and an occupancy rate of 94.1%. The company raised its SS NOI guidance and continued to strengthen its balance sheet, improving its Debt to EBITDAre ratio.

Whitestone REIT announced strong Q2 2024 results, featuring a 6.6% increase in Same Store Net Operating Income, GAAP leasing spreads of 33% on new leases and 14% on renewal leases. The portfolio's annualized base rent per square foot increased by 5%, and occupancy reached 93.5%. The company reiterated its 2024 Core FFO per share guidance, projecting an 11% year-over-year growth at the midpoint.

Whitestone REIT reported a strong first quarter in 2024, marked by GAAP leasing spreads of 26% on new leases and 15% on renewal leases. The portfolio's annualized base rent per square foot increased by 7% year-over-year to $23.83, with an occupancy rate of 93.6%. The company reiterated its full-year Core FFO per share guidance, projecting an 11% year-over-year growth at the midpoint.

Whitestone REIT reported a strong fourth quarter of 2023, with record occupancy of 94.2%, GAAP leasing spreads of nearly 22%, and a year-over-year revenue increase in excess of 5%. The company initiated 2024 Core FFO per share guidance of $0.98 - $1.04 and grew the dividend by 3%.

Whitestone REIT announced strong Q3 2023 results, featuring GAAP leasing spreads of 23.6% on new leases and 24.6% on renewal leases, a 4.9% increase in revenue, and an occupancy rate of 92.7%. The company reiterated its full-year guidance from the previous earnings call.

Whitestone REIT reported a strong operational quarter with revenue increasing by 4.2% and occupancy rising to 93.3%. GAAP leasing spreads were 32.2% on new leases and 16.2% on renewal leases. However, FFO per share was reduced by approximately $0.03 due to litigation expenses, impacting full year FFO guidance.

Whitestone REIT announced strong first quarter 2023 results, with revenues of $35.9 million and same-store NOI growth of 2.8%. The company is reiterating its 2023 guidance targets.

Whitestone REIT reported strong fourth quarter results, with revenue of $34.9 million compared to $33.3 million for the fourth quarter of 2021. Same-Store Net Operating Income increased by 7.1% to $23.4 million. The company's occupancy grew to a record 93.7%.

Whitestone REIT reported strong third-quarter results, driven by high demand and record occupancy. The company's occupancy reached an all-time high of 92.5%. Whitestone is narrowing its 2022 guidance to the upper portion of the previous range and look forward to delivering full year FFO per share growth of over 17%.

Whitestone REIT announced strong second quarter operating and financial results, with occupancy hitting a record 91.5% and Same Store NOI growth of 8%. The company's strategic focus on community centers in high-growth sunbelt markets continues to drive improvements in leasing efforts and rent per square foot. Whitestone reaffirms its previously released guidance for 2022.

Whitestone REIT reported strong first quarter results for 2022, marked by a 12.9% increase in Same Store NOI, significant reductions in G&A expenses, and continued balance sheet strengthening. The company's community centers in high-growth sunbelt markets drove strong consumer traffic and tenant demand, leading to increased rent per square foot and occupancy levels. Whitestone reaffirms its full year 2022 guidance for net income and FFO.

Whitestone REIT reported strong Q4 2021 results, driven by positive momentum with occupancy rates and ABR. Revenues increased to $33.3 million, and Same-Store NOI grew by 12.8%. The company is focused on maximizing shareholder value through organic growth, prudent capital allocation, and debt leverage improvement.

Whitestone REIT reported a strong third quarter in 2021, with revenues of $32.4 million and net income attributable to common shareholders of $0.06 per share. FFO Core was $0.25 per share, and same-store NOI increased by 7% compared to the same period in 2020. The company continues to focus on long-term targets of reducing debt and scaling G&A.

Whitestone REIT reported strong Q2 2021 results, marked by increased revenues and occupancy, debt reduction, and successful expense scaling, driven by the re-activation of their strategic growth plan and well-located portfolio.

Whitestone REIT reported first quarter 2021 results, with a net income of $0.03 per diluted share and strong new tenant leasing volume of 116,993 SF, resulting in $19.9 million in total lease value. The company's performance demonstrated resilience, evidenced by strong leasing volumes and cash rental collections.

Whitestone REIT announced its Q4 2020 results, with a net income of $0.07 per diluted share. The company has demonstrated resilience amidst the COVID-19 pandemic, with high rental collections and leading foot traffic recovery. The company's focus on stabilizing properties and strong rental collection results have enabled them to outperform.

Whitestone REIT reported net income of $0.9 million, or $0.02 per diluted share, and FFO Core of $10.1 million, or $0.23 per share, for the third quarter of 2020. The company's portfolio remained highly occupied, with 97% of tenants open and operating, and 90% of contractual rents collected during the quarter. Whitestone continues to focus on supporting its tenants and maintaining a strong balance sheet.

Whitestone REIT reported net income of $0.4 million, or $0.01 per diluted share, for the quarter ended June 30, 2020. FFO Core was $9.6 million or $0.22 per share. The company's properties continue to perform well, with 94% of total tenants open and operating and 81% of total Q2 2020 contractual rents collected.

Whitestone REIT reported a net income of $1.6 million, or $0.04 per diluted share, for the quarter ended March 31, 2020. The results include a $0.9 million credit loss and straight-line rent reserve primarily associated with the COVID-19 pandemic. Same-store NOI decreased by 0.9% due to COVID-19 related credit loss reserves.

Whitestone REIT reported strong underlying fundamentals in 2019, with same-store NOI growth of 4.7% in the fourth quarter and 2.4% for the full year. The company also made progress in increasing rental rates and scaling G&A.