Whitestone REIT SEC 10-Q Report

Whitestone REIT, a real estate investment trust specializing in Community Centered Properties®, has released its Form 10-Q report for the second quarter of 2025. The report highlights the company's financial stability and strategic operational initiatives, reflecting its commitment to enhancing shareholder value through effective property management and strategic acquisitions.

Financial Highlights

Whitestone REIT's financial performance for the second quarter of 2025 demonstrates a stable revenue stream and effective cost management, despite challenges posed by increased interest expenses. Key financial metrics include:

• Total Revenues: $75.9 million, reflecting a slight increase from the previous year, indicating stable rental income and management fees.
• Operating Income: $25.3 million, demonstrating effective cost management with a reduction in general and administrative expenses.
• Net Income: $8.9 million, a decrease compared to the previous year, primarily due to higher interest expenses.
• Net Income Attributable to Whitestone REIT: $8.8 million, showing a decline from the previous year, impacted by increased interest expenses and lower comprehensive income.
• Basic Earnings Per Share: $0.17, indicating a decrease from the previous year, reflecting the impact of higher interest expenses.
• Diluted Earnings Per Share: $0.17, consistent with basic earnings per share, showing the effect of increased interest expenses on profitability.

Business Highlights

Whitestone REIT's operational strategy continues to focus on its Community Centered Properties® approach, which involves owning and operating properties that serve as community hubs. Key business highlights for the second quarter of 2025 include:

• Geographical Performance: Whitestone REIT operates primarily in the Austin, Dallas-Fort Worth, Houston, Phoenix, Scottsdale, and San Antonio areas. As of June 30, 2025, the company wholly owned 56 commercial properties, with a focus on Community Centered Properties®.
• Property Acquisitions: During the reporting period, Whitestone REIT acquired South Hulen Shopping Center in Fort Worth, Texas, and San Clemente in Austin, Texas. These acquisitions align with their Community Centered Property® strategy and were funded through the company's credit facility and a 1031 exchange transaction, respectively.
• Operational Strategy: The company continues to focus on its Community Centered Properties® strategy, which involves owning and operating properties that serve as community hubs. This strategy is evident in their recent acquisitions and the composition of their property portfolio.
• Future Outlook: Whitestone REIT plans to continue pursuing acquisitions that fit their Community Centered Properties® strategy, leveraging their credit facilities and strategic financial maneuvers such as 1031 exchanges to optimize their property portfolio.

SEC Filing: Whitestone REIT [ WSR ] - 10-Q - Aug. 01, 2025