Whitestone Q2 2022 Earnings Report
Key Takeaways
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.
Revenues of $35.0 million versus $30.6 million for the second quarter of 2021.
Funds from Operations (FFO) per diluted share of $0.25 versus $0.24 for the second quarter of 2021.
EBITDAre of $19.2 million versus $17.1 million for the second quarter of 2021.
Same-Store Net Operating Income (NOI) of $21.8 million versus $20.2 million for the second quarter of 2021, representing 8% growth.
Whitestone
Whitestone
Forward Guidance
The Company reaffirms its previously released guidance for 2022 and estimates that GAAP net income available to common shareholders will be within the range of $0.35 to $0.39 per diluted share, and FFO will be within the range of $0.98 to $1.02 per diluted share and OP Unit.