Whitestone REIT (WSR) Reports In-Line Q1 EPS, Revenues Miss

Whitestone REIT (NYSE: WSR) reported Q1 EPS of $0.03, in-line with the analyst estimate of $0.03. Revenue for the quarter came in at $29.05 million versus the consensus estimate of $30.04 million.

Jim Mastandrea, Chairman and Chief Executive Officer of Whitestone REIT, commented, “With a significant portion of the Sunbelt, and specifically our markets, leading the nation’s reopening, Whitestone’s resiliency continues to be demonstrated, evidenced by the strong leasing volumes we recorded in first quarter of 2021. Our leasing volume is underscored by the continued strength we have achieved in cash rental collections throughout the pandemic, where we have consistently performed near the top of the U.S. shopping center industry peers for the past four quarters.” Mr. Mastandrea continued, “Given our sustained performance, the Board of Trustees increased our dividend by 2.4% during the first quarter. We now are re-energized, and as the economy recovers, we expect to re-activate our strategic growth plan, reduce leverage, and scale G&A in our efforts to create long-term value for our shareholders.”

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

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