Whitestone REIT’s Board of Trustees Declares First Quarter 2020 Dividends
December 18 2019 - 6:00AM
Whitestone REIT’s (NYSE:WSR) (“Whitestone” or the “Company”) Board
of Trustees has declared a monthly cash dividend of $0.095
per share on the Company’s common shares and operating partnership
units. The dividend amount of $0.095 per share represents a
quarterly amount of $0.285, and an annualized amount of $1.14 per
share. The first quarter dividend distribution for 2020 will be as
detailed below:
Month |
|
Record Date |
|
Payment Date |
January |
|
1/3/2020 |
|
1/15/2020 |
February |
|
2/4/2020 |
|
2/13/2020 |
March |
|
3/3//2020 |
|
3/13/2020 |
Jim Mastandrea, Chairman and Chief Executive
Officer, commented, “We are pleased to announce Whitestone’s 113th,
114th, and 115th consecutive monthly dividend distributions. This
announcement is a reflection of the Board’s confidence in
Whitestone’s ability to produce positive cash flow and increase the
intrinsic value of the real estate in our portfolio despite the
ongoing headwinds of hard and soft good retailer store closings and
bankruptcies that continue to hamper the rest of the retail real
estate industry. Our community-centered, service-focused
entrepreneurial tenant base business strategy continues to provide
a sustainable, predictable cash flow. With over 1,360 tenants,
Whitestone provides a diversified, stable, and predictable cash
flow stream that continues to reward our long-term shareholders and
stakeholders.”
About Whitestone REIT
Whitestone is a community-centered retail REIT
that acquires, owns, manages, develops and redevelops high quality
"e-commerce resistant" neighborhood, community and lifestyle retail
centers principally located in the largest, fastest-growing and
most affluent markets in the Sunbelt. Whitestone's optimal mix of
national, regional and local tenants provide daily necessities,
needed services and entertainment to the communities in which they
are located. Whitestone's properties are primarily located in
business-friendly Phoenix, Austin, Dallas-Fort Worth, Houston and
San Antonio, which are among the fastest growing U.S. population
centers with highly educated workforces, high household incomes and
strong job growth. Visit www.whitestonereit.com for additional
information.
Forward-Looking Statements
Certain statements contained in this press
release constitute forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended (the
“Securities Act”) and Section 21E of the Securities Exchange Act of
1934, as amended (the “Exchange Act”). The Company intends for all
such forward-looking statements to be covered by the safe-harbor
provisions for forward-looking statements contained in Section 27A
of the Securities Act and Section 21E of the Exchange Act, as
applicable. Such information is subject to certain risks and
uncertainties, as well as known and unknown risks, which could
cause actual results to differ materially from those projected or
anticipated. Therefore, such statements are not intended to be a
guarantee of our performance in future periods. Such
forward-looking statements can generally be identified by the
Company's use of forward-looking terminology, such as “may,”
“will,” “plan,” “expect,” “intend,” “anticipate,” “believe,”
“continue,” “goals” or similar words or phrases that are
predictions of future events or trends and which do not relate
solely to historical matters.
The following are some of the factors that could
cause the Company's actual results and its expectations to differ
materially from those described in the Company's forward-looking
statements: the Company's ability to meet its long-term goals, its
assumptions regarding its earnings guidance, including its ability
to execute effectively its acquisition and disposition strategy, to
continue to execute its development pipeline on schedule and at the
expected costs, and its ability to grow its NOI as expected, which
could be impacted by a number of factors, including, among other
things, its ability to continue to renew leases or re-let space on
attractive terms and to otherwise address its leasing rollover; its
ability to successfully identify, finance and consummate suitable
acquisitions, and the impact of such acquisitions, including
financing developments, capitalization rates and internal rates of
return; the Company’s ability to reduce or otherwise effectively
manage its general and administrative expenses; the Company’s
ability to fund from cash flows or otherwise distributions to its
shareholders at current rates or at all; current adverse market and
economic conditions; lease terminations or lease defaults; changes
in the economies and other conditions of the specific markets in
which the Company operates; economic, legislative and regulatory
changes; the success of the Company's real estate strategies and
investment objectives; the Company's ability to continue to qualify
as a REIT under the Internal Revenue Code of 1986, as amended; and
other factors detailed in the Company's most recent Annual Report
on Form 10-K, Quarterly Reports on Form 10-Q and other documents
the Company files with the Securities and Exchange Commission from
time to time.
Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date of this press release. The Company cannot guarantee the
accuracy of any such forward-looking statements contained in this
press release, and the Company does not intend to publicly update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
Contact Whitestone REIT:Kevin
ReedDirector of Investor Relations(713)
435-2219kreed@whitestonereit.com
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