Whitestone REIT Increases Annual Cash Dividend by 3%

HOUSTON, March 05, 2024 (GLOBE NEWSWIRE) -- Whitestone REIT (NYSE: WSR) (“Whitestone” or the “Company”) today announced that its Board of Trustees has declared a monthly cash dividend of $0.04125 per share on the Company's common shares and operating partnership units for the second quarter of 2024. The dividend increase represents a quarterly amount of $0.12375 per share, and an annualized amount of $0.495 per share.

“We are focused on delivering consistent growth, driven by very strong leasing spreads and record occupancy, as we will share on our upcoming 4^th quarter 2023 earnings call,” said Dave Holeman, Whitestone’s CEO. “Our second quarter dividend represents a 3% increase from the first quarter, a reflection of the board’s confidence in Whitestone’s earnings growth trajectory and ability to strengthen the balance sheet while simultaneously growing the dividend.”

The second quarter dividend distribution for 2024 will be as detailed below:

Month	Record Date	Payment Date	Distribution per Share/Unit
April	4/2/2024	4/11/2024	$0.04125
May	5/2/2024	5/14/2024	$0.04125
June	6/4/2024	6/13/2024	$0.04125

About Whitestone REIT

Whitestone REIT (NYSE: WSR) is a community-centered real estate investment trust (REIT) that acquires, owns, operates, and develops open-air, retail centers located in some of the fastest growing markets in the country:  Phoenix, Austin, Dallas-Fort Worth, Houston and San Antonio. 

Our centers are convenience focused: merchandised with a mix of service-oriented tenants providing food (restaurants and grocers), self-care (health and fitness), services (financial and logistics), education and entertainment to the surrounding communities.  The Company believes its strong community connections and deep tenant relationships are key to the success of its current centers and its acquisition strategy.  For additional information, please visit the Company's investor relations website.