earnings
confidence high
sentiment positive
materiality 0.70
Whitestone REIT Q2 2022: record occupancy 91.5%, Same-store NOI up 8%, FFO per share $0.25
Whitestone REIT
2022-Q2 EPS reported
$0.23
revenue$69,120,000
- Revenue $35.0M (+14.4% YoY); Net income $4.3M ($0.09 diluted) vs $5.1M ($0.12) in Q2 2021.
- Same-store NOI $21.8M (+8.0% YoY); occupancy record 91.5% vs 89.9%.
- Rental rate growth 17.4% GAAP (new leases 15.6%, renewals 17.6%); net effective rent per sq ft $21.72 (+8.9% YoY).
- FFO per diluted share $0.25 vs $0.24; EBITDAre $19.2M vs $17.1M.
- Q4 2022 dividend $0.12/share, up 11.6% from Q4 2021; 2022 guidance reaffirmed: FFO $0.98-$1.02.