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Whitestone REIT board nominees gain support from Egan-Jones

Whitestone REIT said Egan-Jones Proxy Services backed all three of the shopping center landlord's trustee candidates — Nandita Berry, Jack Mahaffey and Jim Mastandrea.

The independent proxy adviser recommended that Whitestone shareholders vote in favor of the company's nominees, noting that dissident shareholder KBS Strategic Opportunity REIT Inc. did not present a specific action plan or a shareholder-maximizing alternative, according to a release.

Egan-Jones also argued that as opposed to the KBS nominees, Whitestone's board slate is well-qualified and has sufficient real estate investment trust industry experience to drive company growth and maximize shareholder value.

Whitestone received support from Glass Lewis & Co. for two of its three candidates, while Institutional Shareholder Services recommended shareholders vote for the KBS nominees.