Whitestone REIT Q4 Core FFO $0.24, occupancy record 94.2%, 2024 guidance $0.98-$1.04, dividend up 3%

Whitestone REIT

Q4 2023 revenue $37.5M (+7.5% YoY); Core FFO $0.24; occupancy record 94.2%.
FY 2023 Core FFO $0.91 vs $1.03; same-store NOI +2.7% to $92.8M.
2024 Core FFO guidance $0.98-$1.04; net income $0.32-$0.38 per diluted share.
Dividend raised 3.13% to $0.12375/share for Q2 2024; paid monthly in three installments.
Net debt/EBITDAre 7.5x at year-end; guided to 6.6x-7.0x in 2024.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Whitestone REIT reported the three and twelve months ended December 31, 2023 results: revenue $37.5 million and $147.0 million, net income $1.5 million and $19.2 million, EPS $0.03 and $0.38 per diluted share. Guidance reaffirmed.

Period: the three and twelve months ended December 31, 2023
Revenue: $37.5 million and $147.0 million
Net income: $1.5 million and $19.2 million
EPS: $0.03 and $0.38 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, Core FFO, NOI and EBITDAre are included herein. • Revenues of $37.5 million versus $34.9 million for the fourth quarter of 2022. • Net Income attributable to common shareholders of $1.5 million, or $0.03 per diluted share, versus $19.9 million, or $0.40

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Whitestone REIT filing history →

Source: SEC EDGAR

accession 0001437749-24-006841

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