Whitestone REIT Announces Preliminary Results of 2024 Annual Meeting of Shareholders
14 Mayo 2024 - 11:24AM
Whitestone REIT (NYSE:WSR) (“Whitestone” or the “Company”) today
announced that, based on the preliminary vote count at the
Company’s 2024 Annual Meeting of Shareholders (the “Annual
Meeting”), subject to the final certification of the voting results
by the inspector of election, all six Whitestone’s nominees have
been re-elected to the Whitestone Board of Trustees (the “Board”).
In addition, based on the preliminary vote count and subject to
the final certification of the voting results by the inspector of
election, the Company today announced that, at the Annual Meeting,
Whitestone shareholders approved, on a non-binding advisory basis,
the Company’s executive compensation and approved the ratification
of Pannell Kerr Forster of Texas, P.C. as the Company’s
auditor.
Whitestone issued the following statement:
“Whitestone’s Board and management team thank our shareholders
for their support and input during this proxy contest. We value the
perspectives of all shareholders. We are pleased that shareholders
have reaffirmed their support for the Board’s highly qualified
nominees and recognized our commitment to continue creating
shareholder value. We have heard the collective voice of
shareholders and will continue to incorporate feedback in our
strategy, governance, and other practices.”
The Company will file a Form 8-K with the Securities and
Exchange Commission (“SEC”) reporting the preliminary results based
on the independent inspector of election’s preliminary tabulation.
In addition, the Company will amend the Form 8-K to report the
final voting outcome once it has received the final, certified
report from the inspector.
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
https://ir.whitestonereit.com/.
Forward-Looking Statements
This Report contains forward-looking statements within the
meaning of the federal securities laws, including discussion and
analysis of our financial condition and results of operations,
statements related to our expectations regarding the performance of
our business, and other matters. These forward-looking statements
are not historical facts but are the intent, belief or current
expectations of our management based on its knowledge and
understanding of our business and industry. Forward-looking
statements are typically identified by the use of terms such as
“may,” “will,” “should,” “potential,” “predicts,” “anticipates,”
“expects,” “intends,” “plans,” “believes,” “seeks,” “estimates” or
the negative of such terms and variations of these words and
similar expressions, although not all forward-looking statements
include these words. These statements are not guarantees of future
performance and are subject to risks, uncertainties and other
factors, some of which are beyond our control, are difficult to
predict and could cause actual results to differ materially from
those expressed or forecasted in the forward-looking
statements.
Factors that could cause actual results to differ materially
from any forward-looking statements made in this Report include:
the imposition of federal income taxes if we fail to qualify as a
real estate investment trust (“REIT”) in any taxable year or forego
an opportunity to ensure REIT status; uncertainties related to the
national economy, the real estate industry in general and in our
specific markets; legislative or regulatory changes, including
changes to laws governing REITs; adverse economic or real estate
developments or conditions in Texas or Arizona, Houston and Phoenix
in particular, including the potential impact of public health
emergencies, such as COVID-19, on our tenants’ ability to pay their
rent, which could result in bad debt allowances or straight-line
rent reserve adjustments; increases in interest rates, including as
a result of inflation operating costs or general and
administrative expenses; our current geographic concentration in
the Houston and Phoenix metropolitan area makes us susceptible to
local economic downturns and natural disasters, such as floods and
hurricanes, which may increase as a result of climate change,
increasing focus by stakeholders on environmental, social, and
governance matters, financial institution
disruption; availability and terms of capital and financing,
both to fund our operations and to refinance our indebtedness as it
matures; decreases in rental rates or increases in vacancy rates;
harm to our reputation, ability to do business and results of
operations as a result of improper conduct by our employees, agents
or business partners; litigation risks; lease-up risks, including
leasing risks arising from exclusivity and consent provisions in
leases with significant tenants; our inability to renew tenant
leases or obtain new tenant leases upon the expiration of existing
leases; risks related to generative artificial intelligence tools
and language models, along with the potential interpretations and
conclusions they might make regarding our business and prospects,
particularly concerning the spread of misinformation; our inability
to generate sufficient cash flows due to market conditions,
competition, uninsured losses, changes in tax or other applicable
laws; geopolitical conflicts, such as the ongoing conflict between
Russia and Ukraine, the conflict in the Gaza Strip and unrest in
the Middle East; the need to fund tenant improvements or other
capital expenditures out of operating cash flow; the extent to
which our estimates regarding Pillarstone REIT Operating
Partnership LP's financial condition and results of operations
differ from actual results; and the risk that we are unable to
raise capital for working capital, acquisitions or other uses on
attractive terms or at all 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.
Investor and Media Contact:
David MordyDirector of Investor RelationsWhitestone REIT(713)
435-2219ir@whitestonereit.com
Whitestone REIT (NYSE:WSR)
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