Whitestone REIT
NYSE:WSR
Whitestone REIT
Whitestone REIT engages in the operation of commercial properties in culturally diverse markets of major metropolitan areas. The company is headquartered in Houston, Texas and currently employs 86 full-time employees. The company went IPO on 2010-08-26. The firm's acquisition targets are located in densely populated, culturally diverse neighborhoods, primarily in and around Austin, Chicago, Dallas-Fort Worth, Houston, Phoenix and San Antonio. The firm owns approximately 60 commercial properties, including 15 properties in Houston, nine properties in Dallas-Fort Worth, three properties in San Antonio, five properties in Austin, 27 properties in the Scottsdale and Phoenix, Arizona metropolitan areas, and one property in Buffalo Grove, Illinois, a suburb of Chicago. The firm's properties include Ahwatukee Plaza, Kempwood Plaza, Pima Norte, Bissonnet Beltway, The Citadel, City View Village, Davenport Village, Desert Canyon, Eldorado Plaza, Fountain Hills, Fountain Square, Fulton Ranch Towne Center, Gilbert Tuscany Village and Gilbert Tuscany Village Hard Corner.
Whitestone REIT engages in the operation of commercial properties in culturally diverse markets of major metropolitan areas. The company is headquartered in Houston, Texas and currently employs 86 full-time employees. The company went IPO on 2010-08-26. The firm's acquisition targets are located in densely populated, culturally diverse neighborhoods, primarily in and around Austin, Chicago, Dallas-Fort Worth, Houston, Phoenix and San Antonio. The firm owns approximately 60 commercial properties, including 15 properties in Houston, nine properties in Dallas-Fort Worth, three properties in San Antonio, five properties in Austin, 27 properties in the Scottsdale and Phoenix, Arizona metropolitan areas, and one property in Buffalo Grove, Illinois, a suburb of Chicago. The firm's properties include Ahwatukee Plaza, Kempwood Plaza, Pima Norte, Bissonnet Beltway, The Citadel, City View Village, Davenport Village, Desert Canyon, Eldorado Plaza, Fountain Hills, Fountain Square, Fulton Ranch Towne Center, Gilbert Tuscany Village and Gilbert Tuscany Village Hard Corner.
Core FFO Growth: Whitestone REIT delivered $1.05 core FFO per share in 2025, up 4% over 2024 and at the midpoint of guidance.
Record Occupancy: Achieved a record 94.6% occupancy at year-end, with both large and small shop spaces seeing year-over-year gains.
Same-Store NOI: Reported 4% same-store NOI growth for 2025 and issued 2026 guidance of 3% to 4.75% growth.
Dividend Increase: Raised the dividend by 5.6% for Q1 2026, with intent to continue growing dividends in line with earnings.
Strong Leasing Metrics: Leasing spreads remained high, with the fourth quarter at 18.2% (25.9% for new leases and 16.6% for renewals).
Acquisition & Redevelopment: Acquired two new properties in Q4 and completed multiple redevelopment projects, with $20–30 million in capital spend planned over the next three years.
Balance Sheet Strength: Debt-to-EBITDAre improved to 7.0x, with minimal debt maturities until 2029 and strong liquidity.
Confident Long-Term Outlook: Management reiterated confidence in long-term 5% to 7% core FFO per share growth.
