Latest news with #WSR
Business Insider
03-05-2025
- Business
- Business Insider
Analysts Offer Insights on Real Estate Companies: Eastgroup Properties (EGP) and Whitestone REIT (WSR)
There's a lot to be optimistic about in the Real Estate sector as 2 analysts just weighed in on Eastgroup Properties (EGP – Research Report) and Whitestone REIT (WSR – Research Report) with bullish sentiments. Protect Your Portfolio Against Market Uncertainty Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. Whitestone REIT (WSR) In a report released yesterday, Michael Diana from Maxim Group reiterated a Buy rating on Whitestone REIT, with a price target of $15.00. The company's shares closed last Friday at $12.72. According to Diana is a 3-star analyst with an average return of 1.2% and a 50.6% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Westamerica Bancorporation, and SLR Investment Corp. The word on The Street in general, suggests a Strong Buy analyst consensus rating for Whitestone REIT with a $15.75 average price target, which is a 24.0% upside from current levels. In a report issued on April 30, Colliers Securities also maintained a Buy rating on the stock with a $15.00 price target.
Yahoo
05-03-2025
- Business
- Yahoo
Whitestone REIT (WSR) Q4 2024 Earnings Call Highlights: Strong Growth Amidst Market Challenges
Core FFO per Share: $1.01 in 2024, representing 11% growth from $0.91 in 2023. Same Store NOI Growth: 5.8% for Q4 2024 and 5.1% for the full year. Occupancy Rate: 94.1% at the end of 2024. Debt to EBITDAre Ratio: Improved from 9.2 times in Q4 2021 to 6.6 times in Q4 2024. Dividend Growth: Raised by over 9% in December, with a CAGR of 6.5% since 2021. Leasing Spreads: Renewal leasing spreads of 19% and new leasing spreads of 36.1% in Q4 2024. Cash Flow from Operations: $58.2 million in 2024. Dividends Paid: $24.9 million in 2024. Available Liquidity: $15 million in cash and $125 million available under the credit facility. Warning! GuruFocus has detected 8 Warning Signs with WSR. Release Date: March 04, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Whitestone REIT (NYSE:WSR) achieved a compound annual growth rate of 5.5% for core FFO per share over the past three years, despite a challenging interest rate environment. The company reduced its leverage significantly, improving its debt to EBITDAre ratio from 9.2 times in Q4 2021 to 6.6 times in Q4 2024. Whitestone REIT (NYSE:WSR) reported strong same store NOI growth of 5.1% for 2024, driven by proactive tenant upgrades and strategic redevelopment. The company raised its dividend by over 9% in December, maintaining a 6.5% CAGR since 2021, with a payout ratio of approximately 50% of core FFO. Whitestone REIT (NYSE:WSR) has a strategic focus on high-value, high-return shop spaces, which provide flexibility and adaptability to changing market demands. Interest rate increases over the past three years have posed a significant challenge, causing a double-digit drag on earnings. The company's guidance does not include assumptions for non-same store NOI growth due to uncertainties in acquisition timing. Whitestone REIT (NYSE:WSR) faces competition in the acquisition space, with increased interest from other capital sources. The company anticipates continued costs related to the Pillarstone liquidation process, impacting G&A expenses. Lease termination fees, which contributed to 2024 earnings, are not guaranteed to occur at the same level in 2025, adding uncertainty to future earnings projections. Q: Can you provide details on the redevelopment opportunities and their timelines? A: Christine Mastandrea, Chief Operating Officer, explained that there are pad sites and larger centers that are well-placed but older, which are being actively repositioned. The redevelopment of larger centers is ongoing, with some having longer timelines. The focus is on aligning delivery timing with execution and cash flow. Q: How does Whitestone plan to balance leverage reduction with increased external deployment efforts? A: David Holeman, Chief Executive Officer, stated that the core business's momentum and strong cash flow position the company well. They will focus on disciplined growth through redevelopment, leverage improvement, and potential acquisitions, ensuring all efforts contribute to earnings growth. Q: What is the competitive environment for acquisitions, and how does it affect Whitestone's strategy? A: David Holeman noted increased interest in their market space but emphasized Whitestone's unique approach, focusing on smaller shop spaces and being agnostic about grocery anchors. Their deep market relationships and differentiated strategy position them well despite competition. Q: What is the status of the Regis lease expiration and the mark-to-market opportunity? A: Christine Mastandrea highlighted the demand for boutique office spaces in mixed-use areas like Uptown Galleria, Houston. The location is attractive for tenants moving from downtown, and there is a positive dynamic for office space in this area. Q: Can you provide an update on the Pillarstone liquidation process? A: David Holeman mentioned that the liquidation process is nearing completion, with all properties either sold, under contract, or with offers. The expected proceeds are well above the $45 million recorded on the balance sheet, and guidance will be updated as proceeds are received. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Telegraph
01-03-2025
- Sport
- Telegraph
The quest to set a 450mph speed record could pioneer frictionless travel on water
You might wonder how it is that Richard Noble OBE, entrepreneur and holder of the land speed record (LSR) between 1983 and 1997, is now, at the age of 79, considering a tilt at inspiring the fastest person on water. Surely this consummate record-breaker should be settled back enjoying his trophies and a mug of Horlicks, rather than heading up a team aimed at another record? After all, he played such a crucial part in the Thrust SSC record of 763.035mph in 1997 and its almost-but-not-quite LSR successor, Bloodhound. The water speed record (WSR) of 317mph has stood for the past 46 years, held by Ken Warby and his Spirit of Australia hydroplane. The clue comes in Noble's autobiography, Take Risk!, in which he reveals that when he was six he saw and was inspired by three-times land speed record-holder John Cobb's Crusader WSR boat on Loch Ness in 1952. 'This started me on a quest for the land-speed record,' he writes. (The history of record-breaking on water, including Cobb's Crusader, is detailed below.) He's far from starry-eyed about the dangers of such a project, which are horrendous. Water is around 800 times more dense than air, so hitting it at any speed is extremely hazardous, often fatal. It's almost never flat, with imperceptible swells and waves that can deflect a craft, while it can also contain semi-submerged hazards or pockets of different density, which can cause instability. Seven of the 13 people who have attempted to break the WSR since 1930 have perished in the attempt; the only men who tried to beat Warby's 1978 record, Lee Taylor in 1980 and Craig Arfons in 1989, died in the process. In short, Warby is the only man to have exceeded 300mph on water and survived. With a target of 450mph, has Noble finally met his match, or is the prize of almost-friction-free travel over water too valuable not to at least have a go at it? Other WSR efforts There are currently three other record attempts, all planned with hydroplane hulls. The first is the spiritual successor to Warby's Spirit of Australia, Spirit of Australia II, which was commenced by Ken Warby with his son David, who continued the work after the death of his father, aged 83, in 2023. The craft has more than twice the power of its predecessor thanks to its Rolls-Royce Orpheus 803 jet and plenty of potential. Motor Boat and Yachting magazine reported in autumn of 2024 that Warby, having achieved 260mph in testing, had experienced a bird strike into the engine's turbine blades, which put things back. Quicksilver is a UK effort led by Nigel Macknight, which started as a partnership with Ken Norris, the designer of Bluebird K7 and doyen of speed record-breaking. It's a stepped hydroplane design with input from high-speed boat designer Lorne Campbell and aerodynamicist Mike Green, powered by a Rolls-Royce Spey jet engine. Things have been quiet on the project for a few years as Covid and personal tragedy affected the team, but it's far from dormant. 'The water speed record is really, really difficult and dangerous,' comments Macknight, 'and I've every respect for Richard Noble's effort. I don't really see these things in terms of rivals, as it's not helpful, but while we've lost momentum, we're hopeful and optimistic.' Another British project, Longbow, is under construction at Blackpool, Lancashire. Its project manager, David Aldred, was interviewed by BBC North West in January this year. He worked on the restoration of Donald Campbell's 1950s Bluebird K7 and helped source a new engine for the craft prior to its planned return to Coniston Water next year. Standing in front of his twin-engined, wood-framed hydroplane, he said: 'Unlike the land speed record, which is done in the desert and is just a YouTube video, this will be done in the Lake District, where you can come and see it, skimming across the water, with a guy putting his life on the line, to get the record for Britain.' Embracing risk Undeterred by rivals or risk, Noble is pressing on. He has little truck with what he sees as an aversion to risk in the UK Government and companies, asserting that taking on 'really big risks is the way to succeed'. ''Highly dangerous' for us is ideal, and we offset that risk with design and innovation,' he says. If it sounds crazy, the track record of the Thrust and Bloodhound teams is of brilliant and innovative design along with extensive research backed by solid data and meticulous safety, all of which resulted in the LSR for ThrustSSC and a top speed of 628mph for Bloodhound in November 2019.
