Whitestone Profit Rises

(RTTNews) - Whitestone REIT (WSR) Friday reported third-quarter funds from operations of $5 million or $0.22 per share compared with $4 million or $0.23 per share last year.

Core FFO for the quarter were $0.30 per share compared with $0.29 per share last year.

Net earnings for the quarter were $1 million or $0.05 per share compared with $0.6 million or $0.03 per share last year.

Revenues for the quarter were $18.9 million compared with $16.3 million in the prior year.

Analysts polled by Thomson Reuters estimated FFO of $0.27 per share on revenues of $18.3 million for the quarter. Analysts' estimates typically exclude special items.

For the full year, the company now expects core FFO of $1.16 to $1.18 per share, while analysts expect $1.16 per share.

The company declared a quarterly cash distribution of $0.285 per common share and OP unit for the fourth quarter of 2014, paid or to be paid in three equal installments of $0.095 in October, November and December