---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-012115"
form_type: "8-K"
ticker: "WSR"
cik: "0001175535"
company_name: "Whitestone REIT"
filed_at: "2023-05-02T23:59:59+00:00"
generated_at: "2026-06-16T02:47:00.159104+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001437749-23-012115
- form_type: 8-K
- ticker: WSR
- cik: 0001175535
- company_name: Whitestone REIT
- filed_at: 2023-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1175535/000143774923012115/0001437749-23-012115-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1175535/000143774923012115/wstr20230322b_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-012115
- JSON: https://secwatch.observer/filing/0001437749-23-012115.json
- Plain text: https://secwatch.observer/filing/0001437749-23-012115.txt

## Key facts
- Earnings Releases
  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
  source text: ( “ 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1175535/000143774923012115/0001437749-23-012115-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.