AP NEWS
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

Whitestone REIT’s Board of Trustees Declares First Quarter 2020 Dividends

December 18, 2019 GMT

HOUSTON, Dec. 18, 2019 (GLOBE NEWSWIRE) -- Whitestone REIT’s (NYSE:WSR) (“Whitestone” or the “Company”) Board of Trustees has declared a monthly cash dividend of $0.095 per share on the Company’s common shares and operating partnership units. The dividend amount of $0.095 per share represents a quarterly amount of $0.285, and an annualized amount of $1.14 per share. The first quarter dividend distribution for 2020 will be as detailed below:

Month Record Date Payment Date January 1/3/2020 1/15/2020 February 2/4/2020 2/13/2020 March 3/3//2020 3/13/2020

Jim Mastandrea, Chairman and Chief Executive Officer, commented, “We are pleased to announce Whitestone’s 113th, 114th, and 115th consecutive monthly dividend distributions. This announcement is a reflection of the Board’s confidence in Whitestone’s ability to produce positive cash flow and increase the intrinsic value of the real estate in our portfolio despite the ongoing headwinds of hard and soft good retailer store closings and bankruptcies that continue to hamper the rest of the retail real estate industry. Our community-centered, service-focused entrepreneurial tenant base business strategy continues to provide a sustainable, predictable cash flow. With over 1,360 tenants, Whitestone provides a diversified, stable, and predictable cash flow stream that continues to reward our long-term shareholders and stakeholders.”

About Whitestone REIT

Whitestone is a community-centered retail REIT that acquires, owns, manages, develops and redevelops high quality “e-commerce resistant” neighborhood, community and lifestyle retail centers principally located in the largest, fastest-growing and most affluent markets in the Sunbelt. Whitestone’s optimal mix of national, regional and local tenants provide daily necessities, needed services and entertainment to the communities in which they are located. Whitestone’s properties are primarily located in business-friendly Phoenix, Austin, Dallas-Fort Worth, Houston and San Antonio, which are among the fastest growing U.S. population centers with highly educated workforces, high household incomes and strong job growth. Visit www.whitestonereit.com for additional information.

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 ReedDirector of Investor Relations(713) 435-2219 kreed@whitestonereit.com