Whitestone REIT Q1 FFO falls to $0.24 from $0.30; reaffirms 2023 guidance

Whitestone REIT

2023-Q1 EPS reported $0.08 revenue$35,851,000

Revenue of $35.9M vs $34.1M in Q1 2022; net income of $3.8M ($0.08/diluted) down from $7.1M.
FFO per share $0.24 (Q1 2022: $0.30, which included $0.04 compensation benefit).
Same-store NOI grew 2.8% to $23.7M; occupancy improved to 92.7% from 91.0%.
FY 2023 guidance reaffirmed: FFO $0.95-$0.99/sh, net income $0.29-$0.33/sh.
Dividend maintained at $0.12/quarter ($0.04 monthly); total debt $630.9M, revolver capacity $136.9M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Whitestone REIT reported the three months ended March 31, 2023 results: revenue $35.9 million, net income $3.8 million, or $0.08 per diluted share. Guidance reaffirmed.

Period: the three months ended March 31, 2023
Revenue: $35.9 million
Net income: $3.8 million, or $0.08 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

( “ OP ” ) unit basis unless stated otherwise. Reconciliations of Net Income Attributable to Whitestone REIT to FFO, NOI and EBITDAre are included herein. • Revenues of $35.9 million versus $34.1 million for the first quarter of 2022. • Net Income attributable to common shareholders of $3.8 million, or $0.08 per diluted share, versus $7.1 million, or $0.14

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Source: SEC EDGAR

accession 0001437749-23-012115

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