Whitestone Q2 net income up to $0.22/sh; FFO guidance cut on litigation costs

Whitestone REIT

2023-Q2 EPS reported $0.30 revenue$72,311,000

Revenue $36.5M (+4.2% YoY); net income $11.3M ($0.22/sh) vs $4.3M ($0.09/sh) Q2 2022.
FFO per share $0.21, down from $0.25 YoY; litigation expenses reduced FFO by $0.03.
Same-store NOI growth 0.4%; occupancy rose to 93.3% from 91.5%.
GAAP leasing spreads of 32.2% on new leases and 16.2% on renewals.
FY 2023 FFO guidance lowered to $0.90-$0.94 from $0.95-$0.99; net income guidance raised to $21.5-$23.6M.

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 second quarter of 2023 results: revenue $36.5 million, net income $11.3 million, or $0.22 per diluted share, EPS $0.22 per diluted share. Guidance reaffirmed.

Period: the second quarter of 2023
Revenue: $36.5 million
Net income: $11.3 million, or $0.22 per diluted share
EPS: $0.22 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 $36.5 million versus $35.0 million for the second quarter of 2022. • Net Income attributable to common shareholders of $11.3 million, or $0.22 per diluted share, versus $4.3 million, or $0.09

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Source: SEC EDGAR

accession 0001437749-23-021432

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