Whitestone REIT gains after Q3 occupancy, leasing volume rises

|About: Whitestone REIT (WSR)|By:, SA News Editor

Whitestone REIT (NYSEMKT:WSRjumps 6.7% after Q3 operating portfolio occupancy improved 180 basis points to 91.9% Y/Y.

Also reports Q3 leasing activity of 313,849 square feet in new, expansion and renewal leases vs. 275, 686 square feet in the year-ago period.

Q3 revenue of $34.6M beats consensus estimate by $0.9M; compares with $33.7M a year ago.

Q3 core FFO per share of 29 cents slips from 33 cents a year ago.

"While we acknowledge that our FFO Core per share is down from 2017, primarily as a result of higher interest cost, we remain committed and focused on earning per share and cash flow growth as we execute on our differentiated E-Commerce Resistant business model in our efforts to grow long-term shareholder value," says Chairman and CEO Jim Mastandrea.

Q3 same-store NOI growth of 2.5% Y/Y.

Trims 2018 core FFO per share guidance to $1.17-$1.19 from $1.19-$1.24,  consensus estimate is $1.21.

Boosts 2018 EPS guidance to 37 cents-39 cents from prior view of 27 cents-32 cents.

Previously: Whitestone REIT FFO of $0.29, beats on revenue (Oct. 31)

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