Whitestone Q1 net income $9.3M; reaffirms Core FFO guidance; dividend up 3.13%

Whitestone REIT

2024-Q1 EPS reported $0.18 revenue$37,164,000

Revenue $37.2M (+3.6% YoY); net income $9.3M ($0.18/sh) vs $3.8M ($0.08/sh) in Q1 2023.
Core FFO per diluted share $0.24 (flat YoY); same-store NOI grew 3.1% to $23.9M.
Occupancy 93.6% (+90bp); GAAP leasing spreads 17% total, new leases 25.9%, renewals 15.0%.
Reaffirmed 2024 Core FFO guidance $0.98-$1.04/sh; dividend raised 3.13% to $0.12375/qtr.
Updated net income guidance includes $6.5M gain on sale and $1.6M expected proxy costs.

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 0.95

Whitestone REIT reported the three months ended March 31, 2024 results: revenue $37.2 million, net income $9.3 million, or $0.18 per diluted share, EPS $0.18 per diluted share. Guidance reaffirmed.

Period: the three months ended March 31, 2024
Revenue: $37.2 million
Net income: $9.3 million, or $0.18 per diluted share
EPS: $0.18 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 $37.2 million versus $35.9 million for the first quarter of 2023. • Net Income attributable to common shareholders of $9.3 million, or $0.18 per diluted share, versus $3.8 million, or $0.08

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Source: SEC EDGAR

accession 0001437749-24-014190

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