Whitestone REIT (NYSE:WSR) Q2 2022 Earnings Conference Call August 3, 2022 8:00 AM ET

Company Participants

David Mordy - Director, Investor Relations

Dave Holeman - Chief Executive Officer

Christine Mastandrea - Chief Operating Officer

Scott Hogan - Chief Financial Officer

Conference Call Participants

Mitch Germain - JMP Securities

Gaurav Mehta - EF Hutton

Craig Kucera - B. Riley Securities

Operator

Greetings. Welcome to Whitestone REIT’s Second Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions]

Please note, that this conference is being recorded. At this time, I’ll turn the conference over to David Mordy, Director of Investor Relations. Mr. Mordy, you may begin.

David Mordy

Good morning. And thank you for joining Whitestone REIT’s second quarter 2022 earnings conference call. Joining me today on today’s call are Dave Holeman, Chief Executive Officer; Christine Mastandrea, Chief Operating Officer; and Scott Hogan, Chief Financial Officer.

Please note, that some statements made during this call are not historical and may be deemed forward-looking statements. Actual results may differ materially from those forward-looking statements due to a number of risks, uncertainties and other factors. Please refer to the Company’s earnings news release and filings with the SEC including Whitestone’s most recent Form 10-Q and 10-K for a detailed discussion of these factors.

Acknowledging the fact that this call may be webcast for a period of time, it is also important to note that this call includes time-sensitive information that may be accurate only as of today’s date, August 3, 2022. The company undertakes no obligation to update this information.

Whitestone second quarter earnings news release and supplemental operating and financial data package have been filed with the SEC and are available on our website, www.whitestonereit.com, in the Investor Relations section.

I’d also like to draw investor attention to the fact that we published second quarter 2022 slides on our website yesterday afternoon and will reference page numbers throughout this call.

I will now turn the call over to Dave Holeman, our Chief Executive Officer.

Dave Holeman

Thank you, David. Good morning. And thank you for joining Whitestone’s second quarter 2022 earnings conference call. I will begin on slide number two. We’re pleased to announce another strong quarter of operating and financial results, driven by continued demand for spaces in our centers and associated leasing activity.

Versus the second quarter of 2021, our revenue grew over 14%, FFO per share is $0.25 per share up from $0.24, same-store net operating income increased 8%, total occupancy is 91.5%, up 150 basis points from Q2 2021 and up to 50 basis points from the first quarter.