earnings
confidence high
sentiment positive
materiality 0.85
Whitestone REIT Q3 2024: Core FFO $0.25 vs $0.23, Same-Store NOI +4.6%, guidance raised
Whitestone REIT
2024-Q3 EPS reported
$0.38
revenue$113,444,000
- Net income attributable to common shareholders $7.6M ($0.15/diluted share) vs $2.5M ($0.05) prior year.
- Same-Store NOI growth 4.6% to $24.2M; occupancy improved to 94.1% from 92.7%.
- 2024 SS NOI guidance raised to 3.75%-4.75% from 2.5%-4.0%; Core FFO per share reaffirmed $0.98-$1.04.
- New $20M term loan at 5.2% due 2028 used to reduce floating-rate line; Debt/EBITDAre improved to 7.2x.
- GAAP leasing spreads 25.3% (10th consecutive quarter above 17%); quarterly dividend unchanged at $0.12375.