| Market Capitalization (Millions $) |
1,002 |
| Shares
Outstanding (Millions) |
53 |
| Employees |
72 |
| Revenues (TTM) (Millions $) |
164 |
| Net Income (TTM) (Millions $) |
51 |
| Cash Flow (TTM) (Millions $) |
-10 |
| Capital Exp. (TTM) (Millions $) |
113 |
Business Description
Whitestone REIT is a real estate investment trust that specializes in the acquisition, leasing, and management of commercial properties located in dynamic and high-growth markets across the United States. The main goal of the company is to consistently provide attractive returns to its investors while also creating value for its tenants, employees, and other stakeholders.
The company's portfolio consists of 55 properties covering a total of approximately1 million square feet of leasable space. Whitestone's properties are primarily located in the Sunbelt region, with significant exposure to the Houston, Phoenix, and San Antonio markets. The company's properties are strategically located in high-density urban and suburban areas, with convenient access to major transportation routes, retail centers, and other amenities.
Whitestone's properties are primarily leased to high-quality tenants from a diverse range of industries, including healthcare, financial services, education, and professional services. The company's leasing strategy is focused on long-term, triple-net leases that provide stability and predictability of cash flows to its investors. As of September 30, 2021, the company's portfolio was 92.0% leased, with an average remaining lease term of 8 years.
The company's management team has significant experience in the commercial real estate industry, with a track record of successfully acquiring and managing high-quality properties in attractive markets. Whitestone's strong balance sheet provides it with the financial flexibility to pursue new acquisition opportunities, pay down debt, and return capital to its investors through dividends and share repurchases.
In terms of financial performance, Whitestone has a strong track record of generating consistent and stable income and cash flow. As of September 30, 2021, the company had a net income of $9.8 million and a funds from operations (FFO) of $21.5 million. The company has a history of paying and increasing its dividend, with a current quarterly dividend of $0.15 per share.
In summary, Whitestone REIT is a well-managed real estate investment trust with a diversified portfolio of high-quality properties located in growth markets across the Sunbelt region. The company's focus on long-term, triple-net leases provides stability and predictability of cash flows to its investors, while their strong balance sheet and experienced management team position them well for future growth and success.
Company Address: 2600 South Gessner, Suite 500 Houston 77063 TX
Company Phone Number: 827-9595 Stock Exchange / Ticker: NYSE WSR
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