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Whitestone Reit (WSR)

Discussion in 'Stock Message Boards NYSE, NASDAQ, AMEX' started by Marvan, Mar 23, 2019.

  1. Marvan

    Marvan Member

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    Yesterday in at 11.92

    Whitestone is a community-centered retail REIT that acquires, owns, manages, develops and redevelops high quality "E-Commerce resistant" neighborhood, community and lifestyle retail centers principally located in the largest, fastest growing and most affluent markets in the Sunbelt. Whitestone's optimal mix of national, regional and local tenants provides daily necessities, needed services and entertainment to the communities in which they are located. Whitestone's properties are primarily located in business-friendly Phoenix, Austin, Dallas-Fort Worth, Houston and San Antonio, which are among the fastest growing U.S. population centers with highly educated workforces, high household incomes and strong job growth. As of December 31, 2018, Whitestone's total shareholder return ranks #2 of 17, #1 of 17, and #2 of 16, of the U.S. public shopping center REITs for the one-year, three-year, and five-year periods, respectively.
     
    Onepoint272 likes this.
  2. Marvan

    Marvan Member

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  3. Marvan

    Marvan Member

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    HOUSTON, April 01, 2019 (GLOBE NEWSWIRE) -- Whitestone REIT (NYSE: WSR) (the “Company” or “Whitestone”) and its operating partnership, Whitestone REIT Operating Partnership, L.P., today announced it has entered into a Note Purchase and Guarantee Agreement (the “Note Agreement”) with Prudential Capital Group, the private capital arm of PGIM, the $1 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU). The note agreement provides for the issuance and sale of $100 million of senior unsecured notes of the Operating Partnership, of which:

    • $50 million are designated as 5.09% Series A Senior Notes due March 22, 2029
    • $50 million are designated as 5.17% Series B Senior Notes due March 22, 2029, (together with the Series A Senior Notes, the “Notes”)
    Obligations under the Notes are unconditionally guaranteed by the Company and certain subsidiaries.

    Whitestone Chairman and CEO Jim Mastandrea stated, "We are very pleased to announce our inaugural issuance of senior unsecured notes. This transaction represents another successful step in Whitestone's long-term balance sheet strategy. The private placement allows us to further ladder our debt maturities, lock in fixed interest rates on an additional $100 million of our debt, provides additional balance sheet flexibility and represents further institutional validation of our e-commerce resistant model.” Mr. Mastandrea added, “We are excited to partner up with Prudential Capital Group, an elite global financial services institution, and pleased that they recognized our commitment to long term value creation.”

    The principal of the Series A Notes will begin to amortize on March 22, 2023 with annual principal payments of approximately $7.1 million. The principal of the Series B Notes will begin to amortize on March 22, 2025 with annual principal payments of $10.0 million. The Notes will pay interest quarterly on the 22nd day of March, June, September and December in each year until maturity.

    Net proceeds from the Private Placement were used to pay down existing indebtedness. For additional details, please refer the Form 8-K that was filed with the Securities and Exchange Commission on March 28, 2019.

    http://ir.whitestonereit.com/file.aspx?IID=4087483&FID=397316830
     
  4. Marvan

    Marvan Member

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    Law Offices of Howard G. Smith announces an investigation on behalf of Whitestone REIT investors (“Whitestone” or the “Company”) (NYSE: WSR) concerning the Company and its officers’ possible violations of federal securities laws.

    On February 27, 2019, after the market closed, the Company revealed that its 2018 financial results for the periods ending March 31, June 30, and September 30 could no longer be relied upon and would be restated, based on a review by auditing committee of Whitestone’s board of trustees.

    On this news, shares of Whitestone fell $1.24 per share, or over 8%, to close at $13.01 on February 28, 2019, thereby injuring investors.

    https://uk.finance.yahoo.com/news/investor-alert-law-offices-howard-005100050.html
     
  5. Marvan

    Marvan Member

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  6. Marvan

    Marvan Member

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    Whitestone Accused of Misleading Investors"

    According to the complaint, since May 2018, Whitestone stated that its internal control over financial reporting was effective and attested to the accuracy of the financial statements, effectiveness of internal controls, and that all fraud was disclosed.

    The truth was revealed on February 27, 2019, after the market closed, when Whitestone disclosed that its 2018 financial results for the periods ending March 31, June 30, and September 30 could no longer be relied upon and would be restated.

    Specifically, Whitestone cited certain accounting errors relating to nonfinancial assets. On this news, over the course of two trading days, Whitestone’s price per common share of beneficial interest declined from a close of $14.25 on February 27, 2019, to a close of $13.01 on February 28, 2019.

    The next day, the stock continued to plummet, to close at $12.18 on March 1, 2019, an overall drop of approximately 14.52 percent.

    https://uk.finance.yahoo.com/news/robbins-arroyo-llp-whitestone-reit-210100328.html
     
  7. Onepoint272

    Onepoint272 Well-Known Member

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    T0rm3nted and bigbear0083 like this.
  8. Marvan

    Marvan Member

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    Whitestone investors in what it calls neighborhood "go-to" centers, offering a mix of businesses that go beyond simply serving commercial purposes to let visitors connect to form a true community.
    With the goal of offering convenience to its patrons, Whitestone tries to craft its properties to the local needs of the communities where they're located.
    The Houston-based real estate investment trust has properties in Texas, Arizona, and Illinois, and it caters to an upscale audience with above-average income that can afford to pay up for services and experiences.
    [​IMG]
    Retail center and parking facility with Houston Galleria skyline behind.
    Image source: Whitestone REIT.

    The company's most recent community-centered property, BLVD Place, is a good example. On its face, the property seems to offer a typical mix of tenants, including a grocery store, a bank, restaurants, and retail shops.
    But with its location in the prestigious Galleria area of Houston, the businesses at BLVD Place are all geared toward the higher-end customer, with sellers of jewelry and fur coats among tenants.


    Whitestone has a lot to offer shareholders as well. With a $0.095 per share monthly dividend, the REIT currently has a yield of 9.5%. That payout has been consistent since late 2010, and with shoppers demanding innovative new ideas for retail establishments, Whitestone's focus is in line with shifting consumer trends and holds a lot of promise.

    https://uk.finance.yahoo.com/news/2-stocks-cut-check-month-130300004.html
     
    Onepoint272 likes this.
  9. Marvan

    Marvan Member

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    HOUSTON, May 01, 2019 (GLOBE NEWSWIRE) -- Whitestone REIT (NYSE: WSR) (“Whitestone” or the “Company”) today announced operating and financial results for the first quarter ended March 31, 2019. Whitestone is a pure-play community-centered retail REIT that acquires, owns, manages, develops and redevelops high quality “E-Commerce Resistant” neighborhood, community and lifestyle retail centers principally located in the largest, fastest-growing and most affluent markets in the Sunbelt. Whitestone’s optimal mix of national, regional and local tenants provides daily necessities, needed services and entertainment to the communities in which they are located.

    Whitestone is a pure-play community-centered retail REIT that acquires, owns, manages, develops and redevelops high quality “E-Commerce Resistant” neighborhood, community and lifestyle retail centers principally located in the largest, fastest-growing and most affluent markets in the Sunbelt. Whitestone’s optimal mix of national, regional and local tenants provides daily necessities, needed services and entertainment to the communities in which they are located.

    Highlights*

    *All per share amounts presented in this news release are on a diluted per common share and operating partnership (“OP”) unit basis unless stated otherwise.
    First Quarter 2019 Compared to First Quarter 2018:

    • Net income attributable to Whitestone REIT was $2.8 million, or $0.07 per share, compared to $3.2 million, or $0.08 per share
    • Annualized Base Rent (“ABR”) per Leased Squared Foot Grows 5.8% to $19.58
    • 2.4% same store NOI growth
    • Funds from Operations (“FFO”) reach $9.9 million or $0.24 per share versus $10.1 million or $0.24 per share
    • 8.4% increase in rental rates on new and renewal leases on a GAAP basis (trailing twelve months)
    Jim Mastandrea, Chairman and Chief Executive Officer of Whitestone REIT commented, “Our team has delivered a positive start to 2019 producing growth in most of our key financial metrics. Our e-commerce resistant model generated a strong increase in same store NOI as we worked to reinvigorate occupancy growth. We also strengthened our capital structure and financial flexibility with the successful closing and upsizing of our credit facility to $515,000,000 and the placement of our first private bond issuance of $100,000,000. While our cycle-tested experience and business model, focusing on high growth markets, may hit some road bumps from time to time, it provides stability and predictability to achieve our long-term goals. We have confidence that our high quality properties in strong growth markets, management team, and business model will continue to produce improving financial results as we move forward to create additional value for all Whitestone shareholders.”

    Financial Results
    Reconciliations of Net Income to FFO and FFO Core are included herein.
    Net Income attributable to Whitestone REIT was $2.8 million, or $0.07 per share, for the first quarter of 2019, compared to $3.2 million, or $0.08 per share, for the same period in 2018. FFO was $9.9 million, or $0.24 per share, for the first quarter of 2019, compared to $10.1 million, or $0.24 per share, for the same period in 2018. FFO Core was $11.8 million, or $0.28 per share, in the first quarter of 2019, compared to $12.7 million, or $0.31 per share, in the same period of 2018.

    http://ir.whitestonereit.com/file.aspx?IID=4087483&FID=397757097
     
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  10. Onepoint272

    Onepoint272 Well-Known Member

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    Am I correct to assume that WSR is NOT an MLP?

    MLPs are probably great for a taxed account under certain conditions but I don't want to mess up my tax-deferred accounts (IRAs) with an MLP which avoids corporate income tax by passing all profits and losses to the limited partners / unit holders.
     
  11. Marvan

    Marvan Member

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    Onepoint272 likes this.
  12. Marvan

    Marvan Member

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    HOUSTON, May 16, 2019 (GLOBE NEWSWIRE) -- Whitestone REIT (NYSE:WSR) (“Whitestone” or the “Company”) today announced that, based on the final vote count at the Company’s 2019 Annual Meeting of Shareholders (the “Annual Meeting”), certified by the inspector of election, that all four of the proposals have been approved by a majority of shareholder votes.

    The results include:

    • Shareholders voted to approve the re-election of two trustees, Paul Lambert and David Taylor, to serve until our 2022 annual meeting of shareholders.
    • Shareholders voted to approve on an advisory (non-binding) basis, the compensation of our named executive officers.
    • Shareholders voted to approve an amendment to our Declaration of Trust to declassify our Board.
    • Shareholders voted to approve the ratification of the appointment of Pannell Kerr Forster of Texas, P.C. as our independent registered public accounting firm for the fiscal year ending December 31, 2019.
    Regarding the results, Chairman and CEO, Jim Mastandrea stated, “We are pleased that our shareholders continue to have confidence in our stewardship of their investment in Whitestone. Our e-commerce resistant strategy has met the test of time and has continued to produce impressive long-term results. The paradigm shift Whitestone made in 2010 away from traditional retail real estate comprising of big boxes, strip centers and hard-good retail tenants, to service-based tenants was ahead of the curve in 2010, and we have remained ahead for the past 8 years.” Mr. Mastandrea added, “That shift became the bedrock of Whitestone’s business model.” Mr. Mastandrea concluded, “Whitestone’s future is bright as we have a supportive Board, a talented and experienced management team, a diverse workforce, and a shareholder base who truly knows the value we are creating for them by their approval of Say-on-Pay and to declassify the Board.”

    https://mail.yahoo.com/d/folders/1/messages/1507?.intl=us&.lang=en-US&.partner=none&.src=finance
     
  13. Rca Jht

    Rca Jht New Member

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    rising:
    Resistance 2: 15.34
    Resistance 1: 13.13
     
  14. Marvan

    Marvan Member

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    It is a volatile stock ( trading between 11 an 16) and it has an steady dividend, good for dividend collectors and traders.
     
  15. Marvan

    Marvan Member

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  16. Marvan

    Marvan Member

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