This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Whitestone REIT Announces Operating Results For The Second Quarter 2012

Stocks in this article: WSR

The Company signed 92 new and renewal leases representing 190,000 square feet during the second quarter of 2012, primarily with service oriented entrepreneurial tenants that required less than 3,000 square feet in multi-cultural neighborhoods, which drives premium rents. A summary of leasing activity is shown below:

  • An 18% increase in total number of tenants to 963 from 813 for the same period 2011;
  • An increase of 19% in the number of new and renewal leases signed: 92 in the second quarter of 2012 versus 77 in the same period of 2011; and
  • Signed 190,000 square feet in new and renewal leases, with an average size of 2,060 square feet as compared to a total of 266,000 square feet and average size of 3,458 square feet in the same period of 2011.

Community Centered Properties TM Portfolio Statistics

As of June 30, 2012, the Company owned 46 Community Centered Properties TM with approximately 3.6 million square feet of gross leasable area, including two development land parcels, located in five of the top markets in the United States in terms of population growth: Houston, Dallas, San Antonio, Phoenix and Chicago.

The Company's strategic efforts target entrepreneurial service oriented tenants that target the neighborhoods within three to five miles from each Community Centered Property TM. These tenants tend to occupy smaller spaces (less than 3,000 square feet) and, as of June 30, 2012, provided a 60% premium rental rate compared to the Company's larger space tenants. The Company currently services 963 tenants throughout its portfolio. No single tenant accounted for more than 1.5% of the Company's annualized base rental revenues as of June 30, 2012. The tenant base mix is diversified to Drive Traffic and Drive Value TM with service offerings concentrated in medical, educational, casual dining and convenience services.

Balance Sheet

The Company owned 20 properties unencumbered by debt as of June 30 2012, with an undepreciated cost basis of $121 million. The total undepreciated values of the Company's real estate assets and real estate indebtedness were $305 million and $140 million, respectively, as of June 30, 2012. As of June 30, 2012, 65% of the Company's debt was fixed-rate and the Company's weighted average interest rate for the quarter was 5.2%.

2 of 7

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs