Whitestone REIT (WSR) Q1 2025 Earnings Call May 01, 2025 08:30 AM ET Speaker0 Ladies and gentlemen, greetings, and welcome to the Whitestone REIT First Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. A brief question and answer session will follow the formal presentation. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, David Modi, Director of Investor Relations. Please go ahead. Speaker1 Good morni ...

Whitestone (WSR) came out with quarterly funds from operations (FFO) of $0.25 per share, beating the Zacks Consensus Estimate of $0.24 per share. This compares to FFO of $0.23 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 4.17%. A quarter ago, it was expected that this real estate investment trust would post FFO of $0.26 per share when it actually produced FFO of $0.28, delivering a surprise of 7.69%.Over the last four quarters, ...

Whitestone REIT Q1 2025 Earnings Presentation Industry Leaders in High- Value Shop Space The Value of Shop Space "Shop Spaces" are the smaller spaces within centers, often in the high-demand 1,500 – 3,000 square foot range that suit regional or local service-based tenants | | Higher Growth | More Durable Cash Flows | | --- | --- | --- | | ➢ | Shop Spaces command higher rents and higher | ➢ Whitestone's underwriting assesses the full strength | | | contractual escalators due to the overall demand for | of th ...

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HOUSTON, April 30, 2025 (GLOBE NEWSWIRE) -- Whitestone REIT (NYSE: WSR) (“Whitestone” or the “Company”) today announced its operating and financial results for the first quarter of 2025. Whitestone creates neighborhood center communities in its high-quality open-air shopping centers that it acquires, owns, manages, develops, and redevelops primarily in some of the largest, fastest-growing, high-household-income markets in the Sunbelt. For the three months ended March 31, 2025 and 2024, Net income attributab ...

HOUSTON, April 23, 2025 (GLOBE NEWSWIRE) -- Whitestone REIT (NYSE: WSR), a neighborhood-focused owner and operator of open-air shopping centers in Texas and Arizona, today announced that it has commenced a strategic redevelopment at Lion Square in Houston’s Asiatown – part of the International Management District – that will transform the Sun Wing Supermarket-anchored center into a vibrant and meaningful cultural hub that pays homage to the city’s expansive Asian community. Whitestone has engaged Michael Hs ...

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The conference call will be recorded, and a telephone replay will be available through May 15, 2025. Replay access information is as follows: HOUSTON, April 01, 2025 (GLOBE NEWSWIRE) -- Whitestone REIT (NYSE:WSR) ("Whitestone" or the "Company") today announced that it will release its financial results for the first quarter ended March 31, 2025 after the market close on Wednesday, April 30, 2025. The Company will host a webcast and conference call to discuss the results on Thursday, May 1, 2025, at 8:30 A.M ...

Financial Condition and Cash Flow - As of December 31, 2024, the company had approximately $136.3 million of mortgage debt secured by four properties, which may affect cash distributions to shareholders if cash flow is insufficient [102]. - The company may need to defer necessary property improvements due to insufficient working capital, potentially impacting property quality and operational results [103]. - The company’s cash available for distribution is primarily derived from its share of cash distributions made by its Operating Partnership [107]. - There is no assurance that the company will be able to maintain or increase cash distributions to shareholders, as these depend on various financial factors [149]. - The company has no assurance that it will be able to continue paying distributions or that rents from properties will increase, which could affect cash available for distributions to shareholders [150]. - Any deficiencies in the company's internal controls could have a material adverse effect on its financial condition and ability to make distributions [151]. REIT Compliance and Taxation - To maintain REIT qualification, the company must distribute at least 90% of its annual taxable income, with a potential 4% excise tax on insufficient distributions [106]. - The company must ensure that at least 75% of its assets consist of cash, government securities, and qualified real estate assets to maintain REIT status [115]. - Dividends payable by the company do not qualify for reduced tax rates available for some dividends, generally taxed at a maximum rate of 37% [116]. - Changes in U.S. federal income tax laws could adversely impact the company's business and financial results [119]. Market and Economic Risks - The market value of the company's common shares may fluctuate significantly due to various factors, including interest rates and dividend distribution rates [120]. - Market disruptions and adverse economic conditions could significantly impact the company's financial condition and results of operations, affecting tenant leasing practices and rental income [131]. - The principal market risk faced by the company is related to interest rate fluctuations, influenced by various economic and political factors [337]. - The company aims to limit the impact of interest rate fluctuations on earnings and cash flows through the use of fixed rate debt instruments [337]. Debt and Interest Rate Exposure - As of December 31, 2024, approximately 88% of the company's outstanding debt, totaling $557.5 million, was subject to fixed interest rates, with an average effective interest rate of 4.89% per annum [339]. - A 1% increase or decrease in interest rates would cause a $13.6 million decline or increase in the fair value of the company's fixed rate debt [339]. - Approximately 12% of the company's outstanding debt, amounting to $75.0 million, was subject to floating interest rates, with an impact of $0.8 million on annual net income for a 1% change in interest rates [340]. Corporate Governance and Strategy - The company's Board may change its business strategy or investment policies without shareholder approval, potentially affecting financial condition and cash flows [122]. - The Maryland General Corporation Law includes provisions that may deter acquisitions, such as the business combination statute and control share acquisition statute, which impose restrictions on shareholders owning 10% or more of voting shares [123]. - The board of trustees has adopted a resolution exempting any business combination from the business combination statute, which could otherwise delay or prevent acquisition offers [125]. - The company is authorized to issue up to 400 million common shares and 50 million preferred shares, which may deter or prevent sales of common shares that could benefit shareholders [129]. - Future offerings of debt or preferred equity securities may adversely affect the market price of common shares and dilute existing shareholders' holdings [130]. Operational and Environmental Risks - The company may face challenges in acquiring properties on favorable terms due to various risks, including changes in economic conditions and competition from other investors [142]. - Climate change and natural disasters could adversely affect the company's properties and business operations, leading to increased costs and potential property damage [139]. - Shareholder activism or unsolicited offers could disrupt the company's business and financial results, potentially harming relationships with stakeholders [148].

Whitestone REIT (WSR) recently announced the signing of a lease with The Picklr to open a new indoor pickleball facility, The Picklr Cave Creek, at Terravita Marketplace in Scottsdale, AZ. The 20,909-square-foot facility is expected to open in the second half of 2025.The strategic addition of The Picklr Cave Creek enhances the active and health-oriented lifestyle of the communities it serves, including North Scottsdale, Carefree and Cave Creek. The facility offers a large number of pickleball players in the ...