earnings
confidence high
sentiment positive
materiality 0.65
Whitestone REIT Q2 Core FFO $0.24 vs $0.21; same-store NOI +6.6%; guidance raised
Whitestone REIT
2024-Q2 EPS reported
$0.23
revenue$74,811,000
- Revenue $37.6M (+3% YoY); Core FFO per share $0.24 vs $0.21; same-store NOI grew 6.6% to $24.1M.
- Occupancy 93.5%; GAAP leasing spreads: new 33.3%, renewals 13.9%; portfolio base rent/sq ft up 5.4% to $24.00.
- 2024 net income guidance raised to $21.4M-$24.4M (from $16.6M-$19.6M); Core FFO guidance unchanged at $0.98-$1.04.
- Quarterly dividend maintained at $0.12375/sh; debt $666.7M with $115M revolver availability.