Financial Performance - For the three months ended September 30, 2025, net income attributable to common shareholders per diluted share was $0.35, compared to $0.15 for the same period in 2024[12]. - Revenues for Q3 2025 were $41.0 million, an increase from $38.6 million in Q3 2024[18]. - Net Income attributable to common shareholders for Q3 2025 was $18.3 million, or $0.35 per diluted share, compared to $7.6 million, or $0.15 per diluted share in Q3 2024[18]. - Core Funds from Operations ("Core FFO") for Q3 2025 were $13.7 million, up from $13.0 million in Q3 2024[18]. - The company reported a comprehensive income of $17,512,000 for the three months ended September 30, 2025, compared to a loss of $1,207,000 in the same period of 2024[46]. - Net income for the nine months ended September 30, 2025, was $27,431,000, a 38.5% increase compared to $19,813,000 in 2024[49]. - The company updated its 2025 full-year guidance for net income attributable to Whitestone REIT to $30,913 - $33,023 thousand, up from the original guidance of $17,135 - $19,219 thousand[20]. Occupancy and Leasing - The occupancy rate for wholly owned properties was 94.2% in Q3 2025, slightly up from 94.1% in Q3 2024[17]. - The number of new leases signed in Q3 2025 was 21, generating lease term revenue of $15.7 million, compared to 26 new leases and $7.6 million in Q3 2024[17]. - Renewal leases in Q3 2025 totaled 47, with lease term revenue of $13.3 million, compared to 46 renewal leases and $15.3 million in Q3 2024[17]. - The total number of leases signed in Q3 2025 was 68, compared to 72 in Q3 2024, indicating a slight decrease of 5.6%[96]. - The total number of renewal leases signed in Q3 2025 was 47, with a total lease value of $13,341,198, compared to 43 leases valued at $11,660,747 in Q3 2024, indicating a growth of 14.4%[101]. Revenue and Income Growth - Same store property net operating income increased by 4.8% in Q3 2025, compared to a 4.6% increase in Q3 2024[17]. - Total rental rate growth on a GAAP basis was 19.3% in Q3 2025, down from 25.3% in Q3 2024[17]. - Same-Store Net Operating Income ("NOI") grew 4.8% to $25.6 million in Q3 2025, compared to $24.4 million in Q3 2024[18]. - Total property revenues for Same Store properties increased by 5% to $39.093 million for the three months ended September 30, 2025, compared to $37.172 million in 2024[66]. - Total rental income for the nine months ended September 30, 2025, was $115,904,000, up 3.1% from $112,328,000 in the same period of 2024[47]. Debt and Financial Obligations - Total debt as of September 30, 2025, was $646.0 million, with $308.9 million available under its revolving credit facility[22]. - The total liabilities as of September 30, 2025, were $701,226,000, an increase from $690,805,000 as of December 31, 2024, reflecting a rise in financial obligations[41]. - Outstanding debt as of September 30, 2025, was $646,002,000, with total net debt of $639,154,000 after accounting for cash and receivables[80]. - The debt to undepreciated book value ratio improved to 49% as of September 30, 2025, down from 50% in 2024, indicating a slight reduction in leverage[79]. - The interest coverage ratio for the three months ended September 30, 2025, was 2.7, compared to 2.6 for the same period in 2024, reflecting improved earnings relative to interest expenses[76]. Dividends and Shareholder Returns - The company has maintained a monthly dividend for over 15 years, with a current annualized distribution of $0.54 per share[5]. - The company declared a quarterly cash distribution of $0.135 per common share for Q4 2025[19]. Strategic Focus and Market Position - Whitestone's strategic focus is on community-centered properties, primarily in high-growth markets in the Sun Belt region[6]. - The largest tenant accounted for only 2.2% of annualized revenues for the three months ended September 30, 2025, indicating a diverse tenant base[9]. - As of September 30, 2025, Whitestone owned 55 Community-Centered Properties™ with a total gross leasable area of 4.8 million square feet[21]. Operational Metrics - Operating expenses for the three months ended September 30, 2025, totaled $26,925,000, compared to $25,940,000 in the same period of 2024, showing a rise of 3.8%[45]. - General and administrative expenses for the three months ended September 30, 2025, were $5.319 million, compared to $4.878 million in 2024, reflecting an increase of 9%[56]. - The company reported a loss on the sale of properties of $14,174,000 for the nine months ended September 30, 2025, compared to a loss of $10,212,000 in 2024[49]. Cash Flow and Liquidity - Cash and cash equivalents increased to $6,848,000 as of September 30, 2025, from $5,224,000 as of December 31, 2024, indicating improved liquidity[41]. - Cash flows from operating activities for the nine months ended September 30, 2025, totaled $34,907,000, compared to $40,156,000 in 2024[49]. - Cash and cash equivalents at the end of the period were $6,848,000, up from $2,534,000 in 2024[52]. Lease and Rental Details - The Annualized Base Rent for the total properties is $112,872,000, resulting in an average rent per square foot of $25.14[111]. - The company has 1,395 leases in place, with a total of 4,092,924 square feet leased, representing 85.7% of the Gross Leasable Area[105]. - The average net effective annual base rent per leased square foot is $25.59 across all properties[111]. - The company is holding land for development, which currently has no Gross Leasable Area reported[111].

Core Insights - Whitestone REIT has appointed Felice Terrigno as Houston Division Director to enhance its leasing strategy for its portfolio of over 10 open-air shopping centers in Houston [1][2] Company Overview - Whitestone REIT (NYSE: WSR) focuses on acquiring, owning, operating, and developing open-air retail centers in rapidly growing markets such as Phoenix, Austin, Dallas-Fort Worth, Houston, and San Antonio [5] - The company emphasizes community connections and strong tenant relationships as key factors for the success of its centers and acquisition strategy [6] Leadership and Experience - Felice Terrigno brings seven years of experience from SDI Realty Advisors, where he specialized in maximizing the value and occupancy of retail shopping centers [2] - Terrigno holds a degree in Business Administration from the United States Military Academy and an MBA from Rice University, enhancing his expertise in finance and commercial real estate [3] Strategic Goals - The appointment of Terrigno is expected to strengthen Whitestone's leasing initiatives, attract national and regional tenants, and align with market trends to expand the portfolio's value [2][4] - The company aims to leverage Terrigno's military discipline and industry expertise to improve the quality of its retail centers and enhance customer experience [4]

October 20th, 2025 – TheNewswire - Western Star Resources Inc. (CSE: WSR) (the “Company” or “Western Star”) is pleased to announce that it intends to complete a non-brokered Private Placement (the "Private Placement") of up to 7,500,000 units of the Company ("Units") at a price of $0.20 per Unit for aggregate gross proceeds of up to $1,500,000. Each of the units will consist of one common share and one share purchase warrant which is exercisable at $0.35 for two years. All securities issued under the Offer ...

Core Viewpoint - Whitestone REIT will release its financial results for Q3 2025 on October 29, 2025, after market close [1] Group 1: Financial Results Announcement - The financial results for the third quarter ended September 30, 2025, will be announced after market close on October 29, 2025 [1] - A conference call to discuss the results will be held on October 30, 2025, at 8:30 A.M. Eastern Time, led by CEO Dave Holeman [2] Group 2: Company Overview - Whitestone REIT is a community-centered real estate investment trust that focuses on acquiring, owning, operating, and developing open-air retail centers in rapidly growing markets such as Phoenix, Austin, Dallas-Fort Worth, Houston, and San Antonio [3] - The company's retail centers are designed to be convenience-focused, featuring a mix of service-oriented tenants that provide food, self-care, services, education, and entertainment to local communities [4] - Strong community connections and deep tenant relationships are considered key to the success of the company's current centers and acquisition strategy [4]

Core Insights - Albert Anthony is a Croatian-American business author and media contributor with a focus on real estate investment trusts (REITs) [1] - He has a background in IT analysis for Fortune 500 companies and experience in financial services with Charles Schwab [1] - Anthony is launching a book on REITs in 2025 and manages his own equities research firm remotely [1] Company Background - Albert Anthony & Company is an equities research firm managed by Anthony, who has a data-driven and process-oriented approach [1] - The firm does not engage with non-publicly traded companies, small cap stocks, or startup CEOs [1] Educational and Professional Development - Anthony holds degrees from Drew University and is currently pursuing the CMSA certification at the Corporate Finance Institute [1] - He has participated in numerous business and innovation conferences in Europe, enhancing his industry knowledge [1] Media Presence - Anthony has a growing presence on platforms like Seeking Alpha and Investing.com, with over 1,000 followers [1] - He is also active on YouTube, where he plans to discuss REITs [1]

Core Insights - Albert Anthony is a Croatian-American business author and media contributor with a focus on real estate investment trusts (REITs) [1] - He has a background in IT analysis for Fortune 500 companies and experience in financial services with Charles Schwab [1] - Anthony is launching a book on REITs in 2025 and manages his own equities research firm remotely [1] Background and Experience - Albert Anthony has over 1,000 followers on Seeking Alpha and writes for various financial platforms [1] - He has participated in numerous business and innovation conferences in the EU and has a degree from Drew University [1] - Currently enrolled in the CMSA certification program at the Corporate Finance Institute in Vancouver [1] Media and Digital Presence - Anthony is active in digital media, including a YouTube channel focused on REITs [1] - He has appeared in regional media channels in Croatia and has had roles in over five productions [1] - The firm does not engage with non-publicly traded companies or small-cap stocks [1]

Group 1 - Whitestone REIT has amended, expanded, and extended its credit facility [1] - The new facility includes a $215 million increase in size [1] - The facility features lower interest rates and extended maturities [1]

Core Viewpoint - Whitestone REIT has successfully amended, expanded, and extended its $750 million credit facility, which includes a $375 million revolver and a $375 million term loan, enhancing its financial flexibility and liquidity [1][2]. Credit Facility Details - The new credit facility includes a $215 million increase in size, lower interest rates, and extended maturities, with the revolver maturing in September 2029 and the term loan in January 2031 [2]. - The initial interest rate for the revolver is SOFR plus 1.40%, while the term loan has an initial interest rate of SOFR plus 1.35% [2]. - Interest rate swaps have been entered into to fix the interest rates on the $375 million term loan, locking in a rate between 3.36% and 3.42% (plus 1.35%) until maturity [2]. Financial Performance and Strategy - The company has improved its leverage metrics by increasing EBITDAre and achieving top quartile Same Store Net Operating Income Growth, focusing on disciplined capital spending [2]. - The capitalization rate used for valuation has improved from 7% to 6.75%, reflecting the strengthening of operations and financial position [2]. - The company aims for a 5-7% Core FFO per share growth target in 2026, 2027, and 2028, supported by the new credit facility [7]. Company Overview - Whitestone REIT is a community-centered real estate investment trust that focuses on acquiring, owning, operating, and developing open-air retail centers in rapidly growing markets such as Phoenix, Austin, Dallas-Fort Worth, Houston, and San Antonio [4]. - The company's retail centers are designed to provide convenience, featuring a mix of service-oriented tenants that include food, self-care, services, education, and entertainment [5].

Core Viewpoint - The recent non-binding takeout offer for Plymouth Industrial signifies a growing trend in M&A activity within the real estate sector, driven by favorable market conditions and significant valuation disparities among REITs [1][6]. Group 1: M&A Activity Drivers - The median REIT is currently trading at 81.8% of NAV, with some REITs as low as 46% and others at 198%, creating opportunities for accretive M&A transactions [1][6]. - Strong fundamentals in REITs are evident, with 60.7% of REITs beating earnings in Q2 2025, indicating robust performance in the sector [5][6]. - There is ample capital available for acquisitions, with private equity firms and publicly traded REITs well-capitalized following the reopening of equity and debt markets post-pandemic [6][7]. Group 2: Sector-Specific Transaction Volume - Industrial REITs have been particularly active, acquiring 90 properties in 2025 for a total of $3.94 billion [8]. - In the shopping center sector, Blackstone's buyout of ROIC and 86 individual property purchases by shopping center REITs totaling $2.39 billion highlight increased M&A interest [9]. - The multifamily sector has seen significant activity, with Equity Residential acquiring a portfolio from Blackstone for $964 million and BSR REIT selling to Avalon Bay for $618 million, alongside $2.7 billion in individual asset purchases [10]. Group 3: Targeted REITs for Acquisition - Whitestone REIT is a potential target due to its trading at $12.91, significantly below its NAV of $17.88, despite strong asset performance [12][17]. - Centerspace is trading at 73.9% of NAV, with a unique portfolio that is outperforming in its markets, making it an attractive acquisition target [18][19]. - Kite Realty is noted for its large discount to NAV and strong cash flows, presenting an opportunity for accretive acquisitions [21][23]. - Farmland Partners is strategically selling assets to buy back stock, potentially leading to a full company sale in the future [24][25]. - Armada Hoffler is trading at a substantial discount to NAV, with a market price of $7.15 compared to an NAV of $12.49, indicating a significant acquisition opportunity [25][30].

Core Points - Whitestone REIT has declared a monthly cash dividend of $0.045 per share for the fourth quarter of 2025, amounting to a quarterly total of $0.135 per share and an annualized total of $0.54 per share [1] - The dividend distribution schedule includes payments in October, November, and December 2025, with record dates and payment dates specified [1] Company Overview - Whitestone REIT is a community-centered real estate investment trust that focuses on acquiring, owning, operating, and developing open-air retail centers in rapidly growing markets such as Phoenix, Austin, Dallas-Fort Worth, Houston, and San Antonio [2] - The company's retail centers are designed to be convenience-focused, featuring a mix of service-oriented tenants that provide food, self-care, services, education, and entertainment to local communities [3] - The company emphasizes strong community connections and deep tenant relationships as key factors for the success of its current centers and acquisition strategy [3]