Logotype for Whitestone REIT

Whitestone REIT (WSR) investor relations material

Whitestone REIT Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Whitestone REIT
Q2 2025 earnings summary31 Jul, 2025

Executive summary

  • Core FFO per share increased 5.4% year-over-year in Q2 2025, with occupancy at 93.9% and average base rent per square foot up 5.3% year-over-year to $25.28.

  • Q2 2025 net income attributable to shareholders was $5.1M, up from $2.6M in Q2 2024; six-month net income was $8.8M, down from $11.9M year-over-year.

  • Revenues for Q2 2025 were $37.9M, up 1% year-over-year; six-month revenues were $75.9M, up 1%.

  • Strong leasing environment in Sunbelt markets is driving value through tenant mix improvements and shorter lease terms.

  • Strategic acquisitions and redevelopment projects are enhancing portfolio quality and positioning for future growth.

Financial highlights

  • Q2 2025 Core FFO was $13.5M ($0.26 per diluted share), up from $12.6M ($0.24) in Q2 2024; six-month Core FFO was $26.6M, up from $23.1M.

  • Same-store NOI grew 2.5% in Q2 2025 to $25.0M and 3.9% year-to-date to $49.3M.

  • Leasing spreads reached 17.9% for the quarter, with new leases at 41.4% and renewals at 15.2%.

  • Distributions paid per share/unit increased to $0.1350 in Q2 2025 from $0.1238 in Q2 2024.

  • Bad debt for the quarter was just under 1% of revenues, consistent with the prior year.

Outlook and guidance

  • 2025 full-year guidance: Core FFO per share of $1.03–$1.07, same-store NOI growth of 3%–4.5%, and year-end occupancy of 94%–95%.

  • Long-term same-store NOI growth target remains at 3%–5%.

  • Dividend expected to grow in line with earnings, currently at about 50%–51% of FFO.

  • Guidance excludes impacts from unannounced acquisitions/dispositions and Pillarstone bankruptcy claims.

  • 2025 Core FFO growth assumes replacement of above-average 2024 termination fees with ongoing NOI.

Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.

Next Whitestone REIT earnings date

Logotype for Whitestone REIT
Q3 202530 Oct, 2025
Your earnings 
season toolkit.
Download
Free on both iOS & Android.

Next Whitestone REIT earnings date

Logotype for Whitestone REIT
Q3 202530 Oct, 2025

The essential earnings season companion

The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

Live calls and transcripts

Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.

Find what you need faster

Search for any keyword across all transcripts simultaneously.

Easily store key findings

Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Your watchlist. Your dashboard.

Follow the companies that matter to you. Get a personalized feed with real-time updates.

Be the first to know

Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.

Consensus estimates

Access analyst consensus estimates, valuation multiples, and revenue segments splits.

All IR material in one place

The easiest way to stay updated during earnings season.

Global coverage

All events from public companies. Live and recorded.

Just click and listen

No webcast links. No manual registrations.

Research anytime, anywhere

Built for professionals. Loved by everyone. Try our free mobile app.

excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com

Frequently asked questions

Whitestone REIT is a real estate investment trust (REIT) that acquires, owns, and manages open-air shopping centers in high-growth metropolitan areas. Its portfolio primarily consists of properties in Texas and Arizona, with a tenant mix focused on services, convenience, and necessity-based businesses. The company emphasizes community engagement and tenant diversification. The company is headquartered in Houston, Texas, and its shares are listed on the NYSE.

Quartr provides global coverage of all investor relation material from public companies.

  • Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

  • Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.

  • Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.

Yes, the Quartr mobile app is free on both iOS and Android.

Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.

Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.

Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.

Explore our global coverage