Whitestone REIT Board unanimously rejects activist proposal for immediate sale or liquidation

Whitestone REIT

Erez Asset Management proposed immediate sale or liquidation of Whitestone; Board unanimously rejected.
Whitestone touts +26% total shareholder return since Jan 2022 vs -7% avg for shopping center REITs.
Erez threatens to nominate four Board members at 2024 annual meeting, which would create new majority.
Board states sale/liquidation would not maximize long-term value; defends current strategy and management.
Activist Bruce Schanzer behind proposal; Board calls for constructive engagement instead of proxy fight.

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