Whitestone Reit ( (WSR) ) has released its Q4 earnings. Here is a breakdown of the information Whitestone Reit presented to its investors.
Whitestone REIT is a community-centered real estate investment trust that acquires, owns, operates, and develops open-air retail centers in rapidly growing markets such as Phoenix, Austin, Dallas-Fort Worth, Houston, and San Antonio.
Whitestone REIT has reported strong financial results for the fourth quarter and full year of 2024, showcasing significant growth in key performance metrics. The company achieved a notable increase in net income attributable to common shareholders, with earnings per diluted share rising from $0.03 in Q4 2023 to $0.33 in Q4 2024, and from $0.38 in 2023 to $0.72 in 2024 for the full year.
The company’s financial performance was bolstered by an 11% year-over-year growth in Core Funds from Operations (FFO) per share and a 5.1% increase in Same Store Net Operating Income (NOI) for the full year. Whitestone also reported a strong leasing environment, with a 21.9% combined GAAP leasing spread in the fourth quarter. The company’s revenue increased to $40.8 million for the fourth quarter, up from $37.5 million in the same period of the previous year.
Whitestone’s management expressed confidence in the company’s portfolio and tenant base, emphasizing their strategic focus on sunbelt markets and high-value shop spaces. Looking ahead to 2025, Whitestone has provided an initial Core FFO guidance range of $1.03 to $1.07 per diluted share and OP Unit, reflecting a positive outlook for continued growth and performance.
Overall, Whitestone REIT’s financial results and strategic initiatives indicate a strong position within the real estate investment sector, with a focus on sustainable earnings growth and market expansion.