HOUSTON, March 26, 2021 (GLOBE NEWSWIRE) -- Whitestone REIT’s (NYSE:WSR) (“Whitestone” or the “Company”) Board of Trustees has declared a monthly cash dividend of $0.035833 per share on the Company’s common shares and operating partnership units. The dividend amount represents a quarterly amount of $0.1075, and an annualized amount of $0.43 per share. The second quarter dividend distribution for 2021 will be as detailed below:
| Month | Record Date | Payment Date | |
| April | 4/5/2021 | 4/14/2021 | |
| May | 5/4/2021 | 5/13/2021 | |
| June | 6/2/2021 | 6/10/2021 |
Jim Mastandrea, Chairman and Chief Executive Officer commented, “We are pleased to announce Whitestone’s 128th, 129th, and 130th consecutive monthly dividend distributions. As we continue to evaluate the recovery in the economy, we stand committed to providing attractive-yielding monthly dividends to our shareholders. The sustainability of our cash flows throughout the pandemic are a testament to the resiliency of the strategically-chosen markets Whitestone is in. Our entrepreneurial tenant base is large and diversified and produces a stable and predictable cash flow. We will continue to support and serve our communities’ essential lifestyle needs, and our unique business model continues to prove its concept.”
About Whitestone REIT
Whitestone is a community-centered shopping center REIT that acquires, owns, manages, develops and redevelops high-quality neighborhood centers primarily in the largest, fastest-growing and most affluent markets in the Sunbelt.
Whitestone seeks to create Communities That Thrive through Creating Local Connections between consumers in the surrounding communities and a well-crafted mix of national, regional and local tenants that provide daily necessities, needed services, entertainment and experiences.
Whitestone is a monthly dividend paying stock and has consistently paid dividends for over 15 years.
Whitestone’s strong balanced and managed capital structure provides stability and flexibility for growth and positions Whitestone to perform well through economic cycles. For additional information, please visit www.whitestonereit.com.
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 Reed
Director of Investor Relations
(713) 435-2219
kreed@whitestonereit.com