Whitestone REIT announced 2024 federal income tax classifications for cash distributions to common shareholders.
Quiver AI Summary
Whitestone REIT announced the federal income tax treatment for its 2024 cash distributions to common shareholders. The distributions, totaling $0.491250 per share, include ordinary dividends, capital gains, and return of capital components, with specific amounts listed for each distribution date throughout the year. Shareholders are advised to consult their tax advisors regarding the implications of these distributions on their taxes. Whitestone REIT focuses on community-oriented retail centers in rapidly growing U.S. markets and emphasizes its strong tenant relationships as crucial to its operational success. The announcement also includes forward-looking statements about the company’s financial condition and various risks that could affect its performance. For further inquiries, contact the Investor Relations Department.
Potential Positives
- Whitestone REIT provided clear and detailed information regarding the federal income tax treatment of its 2024 cash distributions, which will aid shareholders in tax planning.
- The company plans to distribute a total of $0.491250 per share throughout 2024, signaling ongoing financial health and commitment to returning value to shareholders.
- Shareholders are encouraged to consult tax advisors regarding the specific treatment of distributions, suggesting transparency and support for investor understanding.
- Whitestone REIT continues to operate in rapidly growing markets, reinforcing its position for potential future growth and stability.
Potential Negatives
- The press release highlights a significant reliance on return of capital distributions, which could indicate underlying challenges in generating sufficient taxable income to sustain higher ordinary dividends.
- There is a lack of transparency regarding the impact of external economic conditions, such as inflation and interest rate increases, which could raise concerns among investors about the company's future financial stability.
- The forward-looking statements caution about various risks, including the potential failure to maintain REIT status, which could lead to unfavorable tax implications and impact shareholder returns.
FAQ
What are the cash distributions for Whitestone REIT in 2024?
The total cash distributions per share for 2024 are $0.491250, with various classifications detailed for each month.
How can I receive my tax information for Whitestone REIT distributions?
Tax information will be reported on Form 1099-DIV and is available for shareholders for 2024 cash distributions.
What classifications are included in the cash distributions?
The distributions include ordinary dividends, total capital gain distribution, unrecaptured Section 1250 gain, return of capital, and Section 199A dividends.
Where can I find more information about Whitestone REIT?
For additional details, visit Whitestone REIT's investor relations website or contact their Investor Relations Department.
Should I consult a tax advisor about my distributions?
Yes, shareholders are encouraged to consult with their personal tax advisors regarding specific tax treatment of distributions.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$WSR Insider Trading Activity
$WSR insiders have traded $WSR stock on the open market 1 times in the past 6 months. Of those trades, 1 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $WSR stock by insiders over the last 6 months:
- JULIA BRUNS BUTHMAN purchased 5,000 shares for an estimated $64,950
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$WSR Hedge Fund Activity
We have seen 79 institutional investors add shares of $WSR stock to their portfolio, and 78 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BALYASNY ASSET MANAGEMENT L.P. added 604,414 shares (+inf%) to their portfolio in Q3 2024, for an estimated $8,177,721
- BOOTHBAY FUND MANAGEMENT, LLC removed 450,853 shares (-36.0%) from their portfolio in Q3 2024, for an estimated $6,100,041
- FOUNDRY PARTNERS, LLC removed 413,650 shares (-42.6%) from their portfolio in Q3 2024, for an estimated $5,596,684
- CHARLES SCHWAB INVESTMENT MANAGEMENT INC added 241,669 shares (+130.7%) to their portfolio in Q3 2024, for an estimated $3,269,781
- BLACKROCK, INC. removed 204,327 shares (-2.7%) from their portfolio in Q3 2024, for an estimated $2,764,544
- DIGITALBRIDGE GROUP, INC. removed 186,901 shares (-49.8%) from their portfolio in Q3 2024, for an estimated $2,528,770
- GOLDMAN SACHS GROUP INC added 183,963 shares (+100.7%) to their portfolio in Q3 2024, for an estimated $2,489,019
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
HOUSTON, Jan. 29, 2025 (GLOBE NEWSWIRE) -- Whitestone REIT (NYSE: WSR) (“Whitestone” or the “Company”) released the federal income tax treatment of 2024 cash distributions to holders of common shares (CUSIP 966084204). The final classifications of the distributions for 2024, which will be reported on Form 1099-DIV, are as follows:
| Ex-Dividend Date | Record Date | Payable Date | Total Distribution Per Share | Ordinary Dividends | Total Capital Gain Distribution | Unrecaptured Sec 1250 Gain (1) | Return of Capital (Nontaxable Distribution) | Section 199A Dividends (2) | |||||||||||
| 1/3/24 | 1/4/2024 | 1/11/2024 | $ | 0.040000 | $ | 0.024476 | $ | 0.014888 | $ | 0.004986 | $ | 0.000636 | $ | 0.024476 | |||||
| 2/1/2024 | 2/2/2024 | 2/12/2024 | $ | 0.040000 | $ | 0.024476 | $ | 0.014888 | $ | 0.004986 | $ | 0.000636 | $ | 0.024476 | |||||
| 3/1/2024 | 3/4/2024 | 3/14/2024 | $ | 0.040000 | $ | 0.024476 | $ | 0.014888 | $ | 0.004986 | $ | 0.000636 | $ | 0.024476 | |||||
| 4/1/2024 | 4/2/2024 | 4/11/2024 | $ | 0.041250 | $ | 0.025241 | $ | 0.015353 | $ | 0.005141 | $ | 0.000656 | $ | 0.025241 | |||||
| 5/1/2024 | 5/2/2024 | 5/14/2024 | $ | 0.041250 | $ | 0.025241 | $ | 0.015353 | $ | 0.005141 | $ | 0.000656 | $ | 0.025241 | |||||
| 6/4/2024 | 6/4/2024 | 6/13/2024 | $ | 0.041250 | $ | 0.025241 | $ | 0.015353 | $ | 0.005141 | $ | 0.000656 | $ | 0.025241 | |||||
| 7/5/2024 | 7/5/2024 | 7/11/2024 | $ | 0.041250 | $ | 0.025241 | $ | 0.015353 | $ | 0.005141 | $ | 0.000656 | $ | 0.025241 | |||||
| 8/2/2024 | 8/2/2024 | 8/14/2024 | $ | 0.041250 | $ | 0.025241 | $ | 0.015353 | $ | 0.005141 | $ | 0.000656 | $ | 0.025241 | |||||
| 9/4/2024 | 9/4/2024 | 9/12/2024 | $ | 0.041250 | $ | 0.025241 | $ | 0.015353 | $ | 0.005141 | $ | 0.000656 | $ | 0.025241 | |||||
| 10/2/2024 | 10/2/2024 | 10/10/2024 | $ | 0.041250 | $ | 0.025241 | $ | 0.015353 | $ | 0.005141 | $ | 0.000656 | $ | 0.025241 | |||||
| 11/4/2024 | 11/4/2024 | 11/14/2024 | $ | 0.041250 | $ | 0.025241 | $ | 0.015353 | $ | 0.005141 | $ | 0.000656 | $ | 0.025241 | |||||
| 12/3/2024 | 12/3/2024 | 12/12/2024 | $ | 0.041250 | $ | 0.025241 | $ | 0.015353 | $ | 0.005141 | $ | 0.000656 | $ | 0.025241 | |||||
| 2024 Total | $ | 0.491250 | $ | 0.300597 | $ | 0.182841 | $ | 0.061227 | $ | 0.007812 | $ | 0.300597 | |||||||
(1) Represents additional characterization of, and is included in, “Total Capital Gain Distribution.”
(2) Represents dividends eligible for the 20% qualified business income deduction under Section 199A, and is included in “Ordinary Dividends.”
Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of Whitestone REIT cash distributions. For additional information, contact Whitestone REIT’s Investor Relations Department.
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 the Company's investor relations website .
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, pending acquisitions and the impact of such acquisitions on our financial condition and results of operations, anticipated capital expenditures required to complete projects, amounts of anticipated cash distributions to our shareholders in the future 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 COVID-19 on our tenants’ ability to pay their rent, which could result in bad debt allowances or straight-line rent reserve adjustments; inflation and increases in interest rates, operating costs or general and administrative expenses; 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; 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; 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 need to fund tenant improvements or other capital expenditures out of operating cash flow; 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 Mordy
Director of Investor Relations
Whitestone REIT
(713) 435-2219
[email protected]
