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Jun 30, 2025
Whitestone Q2 2025 Earnings Report
Whitestone reported strong second quarter 2025 operating and financial results, with increased Core FFO per share, higher occupancy, and growth in average base rent.
Key Takeaways
Whitestone REIT delivered a strong second quarter in 2025, marked by a 5.4% year-over-year increase in Core FFO per share, a 100 basis point rise in occupancy to 93.9% from Q1 2025, and a 5.3% year-over-year growth in average base rent per leased square foot to $25.28. The company benefited from a robust leasing environment in its Sun Belt markets.
Core FFO per share increased by 5.4% year-over-year.
Occupancy grew by 100 basis points from Q1 2025, reaching 93.9%.
Average base rent per leased square foot increased by 5.3% year-over-year to $25.28.
The company reiterated its full-year guidance for Core FFO per share and Same Store Net Operating Income.
Forward Guidance
Whitestone REIT has updated its 2025 full-year guidance for interest expense and reiterated its Core FFO per share and Same Store Net Operating Income guidance, excluding impacts from future acquisitions, dispositions, or Pillarstone bankruptcy claims.
Positive Outlook
- Reiterated Core FFO per share guidance for the full year.
- Reiterated Same Store Net Operating Income guidance for the full year.
- Strong leasing environment in high-growth Sun Belt markets is expected to continue.
- Continued focus on strengthening tenant mix with new businesses.
- Company expects to benefit from its community-centered properties strategy.
Challenges Ahead
- Guidance does not include the operational or capital impact of any future unannounced acquisition or disposition activity.
- Guidance does not include the collection of any amounts due from claims in the Pillarstone bankruptcy.
- Potential for increases in interest rates, which may increase operating costs or general and administrative expenses.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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