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Whitestone REIT (WSR) CEO Jim Mastandrea on Q1 2021 Results - Earnings Call Transcript

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Whitestone REIT (NYSE:WSR) Q1 2021 Results Conference Call May 5, 2021 11:00 AM ET

Company Participants

Kevin Reed - Director of Investor Relations

Jim Mastandrea - Chairman & Chief Executive Officer

Dave Holeman - Chief Financial Officer

Rebecca Elliott - Vice President of Corporate Communication

Conference Call Participants

Aaron Hecht - JMP Securities

Craig Kucera - B. Riley

Michael Diana - Maxim Group


Greetings, and welcome to the Whitestone REIT First Quarter 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to turn the conference over to your host, Mr. Kevin Reed, Director of Investor Relations. Please proceed, sir.

Kevin Reed

Thank you, Tanya. Good morning, and thank you for joining Whitestone REIT's first quarter 2021 earnings conference call. Joining me on today's call are Jim Mastandrea, our Chairman and Chief Executive Officer; and Dave Holeman, our Chief Financial Officer. We would also like to introduce our new Vice President of Corporate Communication, Rebecca Elliott who is also with us today.

Please note that, some statements made during this call are not historical and may be deemed forward-looking statements. Actual results may differ materially from those forward-looking statements due to a number of risks, uncertainties and other factors. Please refer to the Company's earnings news release and filings with the SEC, including Whitestone's most recent Form 10-Q and Form 10-K for a detailed discussion of these factors.

Acknowledging the fact that this call may be webcast for a period of time, it is also important to note that this call includes time-sensitive information that may be accurate only as of today's date, May 5, 2021. The Company undertakes no obligation to update this information.

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Comments (3)

he says "This acquisition will add just under 200,000 square feet and will be immediately accretive to Whitestone's FFO per share and positively contributes to Whitestone long-term goals related to debt, leverage and G&A coverage."

In other words we have to buy more revenue to lower our G&A as a % of revenue to justify our compensation. One of the oldest tricks in the books....these are guys are just a hoot.
@ponzifinder Robber Barron’s at its best. These guys, and specifically, Mastrada are the new Bonnie & Clyde of today. He & his wife go to Europe on company paid monies to explore retail...seriously?! Did I mention her on the payroll as well? He’s 75+ and needs to go as the entire board does as they’re all not in the present day reality with the current retail environment.
@ClaimJumper I forget who posted that gem but I about spit out my coffee when I read it! And I think he is closer to 80. If not older
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