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Jun 30, 2022
Whitestone Q2 2022 Earnings Report
Whitestone reported strong second quarter results driven by record occupancy and Same Store NOI growth.
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.
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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