Whitestone REIT (WSR) Misses Q3 EPS by 2c

Whitestone REIT (NYSE: WSR) reported Q3 EPS of $0.07, $0.02 worse than the analyst estimate of $0.09.

• Net Income Attributable to Whitestone REIT (“Net Income”) of $3.0 million
• 133% growth in Net Income per share to $0.07
• 60% growth in Funds from Operations (“FFO”) to $10.1 million
• 19% growth in FFO per share to $0.25
• 33% growth in FFO Core to $13.1 million. FFO Core per share of $0.33 in both periods
• 32% growth in revenues to $33.7 million
• 30% growth in Net Operating Income (“NOI”)
• 4.7% same store NOI growth in wholly owned properties. 2.9% same store growth in all properties, including consolidated partnership properties (“non-core” legacy assets)
• 20.3% increase in annualized base rent per square foot for wholly owned properties to $18.84
• 7.6% rental rate increase on new and renewal leases executed in wholly owned properties (GAAP Basis, Trailing Twelve Months)
• Increase in Operating Portfolio occupancy to 90.1% from 87.6%

For earnings history and earnings-related data on Whitestone REIT (WSR) click here.

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