Whitestone REIT Announces Fourth Quarter and Full Year 2025 Financial Results

Key Highlights for Investors

• Strong Revenue Growth: Whitestone REIT reported revenues of \$160.9 million for the full year 2025, up from \$154.3 million in 2024.
• Significant Increase in Net Income: Net income attributable to common shareholders reached \$49.9 million (\$0.95 per diluted share), an increase from \$36.9 million (\$0.72 per diluted share) in 2024. This includes a substantial gain on the sale of properties of \$0.57 per diluted share, compared to \$0.43 per diluted share in 2024.
• Solid Funds From Operations (FFO): FFO was \$54.6 million in 2025 versus \$50.7 million in 2024. FFO per diluted share remained steady at \$0.28 for the fourth quarter compared to the same period last year.
• Core Funds From Operations (Core FFO): Core FFO improved to \$55.4 million in 2025 from \$52.5 million in 2024. Core FFO per diluted share and OP Unit increased to \$1.05 from \$1.01.
• EBITDAre Growth: EBITDAre rose to \$23.9 million for Q4 2025, up from \$23.0 million in Q4 2024.
• Rental Rate Growth: Rental rate growth on a GAAP basis was 3.8% for the quarter and 5.8% for the full year.
• Shareholder Equity: Total Whitestone REIT shareholders’ equity stood at \$458.1 million at year-end 2025, up from \$438.2 million in 2024.
• Balance Sheet Strength: Notes payable were \$643.9 million at year-end, compared to \$631.5 million in 2024. Additional paid-in capital was \$641.2 million, and accumulated other comprehensive income was \$391, up from \$5,713 in 2024.
• Dividend and Distribution Payables: Dividends and distributions payable totaled \$7.4 million at year-end, up from \$6.9 million in 2024.
• Non-GAAP Financial Measures: The company continues to report on supplemental measures such as EBITDAre, FFO, and Core FFO, which provide insight into operational performance and cashflow strength.

Potential Price Sensitive Information

• Property Sales and Gains: The company recorded a substantial gain on sale of properties (\$0.57 per diluted share), suggesting successful capital recycling and potentially positive impacts on future operations and distributions.
• Consistent FFO and Core FFO Performance: Stable FFO and improved Core FFO per share indicate resilience in cash flow generation, which is critical for dividend sustainability and future growth.
• Strong Equity Position: Increased shareholders’ equity underscores Whitestone REIT’s financial stability and capacity to support future investments or withstand market volatility.
• Forward-Looking Statements: The company’s management expects continued performance, pending acquisitions, and capital expenditure plans. However, these are subject to macroeconomic and geopolitical risks, including the conflict in the Middle East, interest rates, and ability to raise capital on favorable terms.
• Risk Factors: Potential risks include maintaining REIT status, economic uncertainties, need for capital expenditures, and ability to collect on partnership redemptions.

Detailed Financial Information

Management Commentary

Dave Holeman, Chief Executive Officer: “Whitestone REIT delivered steady performance in 2025, maintaining consistent FFO per share, growing Core FFO, and realizing significant gains from property sales. Our focus on operational efficiency and strategic asset management has contributed to robust cash flow and equity growth.”

Supplemental Information & Investor Relations

• The full earnings release and supplemental data package are available on the company’s website at www.whitestonereit.com or by contacting Investor Relations at (713) 435-2219.
• Whitestone REIT remains committed to transparency and ongoing communication with shareholders.

Forward-Looking Statements & Risks

This article contains forward-looking statements, including expectations for future acquisitions, capital expenditures, and operational performance. These are subject to risks and uncertainties, including economic and geopolitical factors, REIT compliance, capital market access, and other variable conditions. Actual results may differ materially.

Conclusion

Whitestone REIT’s 2025 performance demonstrates solid revenue growth, improved net income, and stable cash flow metrics. The significant gains from property sales and increased shareholders’ equity are positive factors that could influence share value. Investors should monitor future acquisitions, capital expenditures, and the evolving macroeconomic environment for potential impacts on the company’s financial results and share price.

Disclaimer: This article is for informational purposes only and does not constitute financial advice, an offer to buy or sell securities, or a recommendation regarding Whitestone REIT. Forward-looking statements are based on information available as of the reporting date and may be subject to change. Investors should consult with their financial advisor before making investment decisions.

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