Whitestone REIT

Whitestone REIT

WSR
Whitestone REITUS flagNew York Stock Exchange
19.02
USD
+0.01
- -
977.51MMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
3.36
3.25
3.79
3.78
3.56
3.05
2.97
2.93
2.75
2.85
2.99
3.1
- -
3.24
Basic EPS, GAAP
0.21
0.34
0.27
0.29
0.24
0.55
0.59
0.14
0.26
0.72
0.39
0.73
- -
0.99
Free Cash Flow per Basic Share
-5.63
-5.08
-5.05
-1.52
-2.87
1.01
1.19
1.01
1.03
0.9
0.96
1.16
- -
1
Dividend per Share
1.13
1.15
1.16
1.16
1.14
1.14
1.14
0.6
0.42
0.47
0.48
0.49
- -
0.55
Book Value per Share
-4.2
-4.22
-4.74
-5.13
-4.99
-4.62
-5.08
-5.11
-4.92
-4.31
-4.38
-4.09
- -
-3.51
Tangible Book Value per Share
12.25
9.58
10.03
9.69
10.12
9.14
8.79
8.01
8.77
8.62
8.48
8.84
- -
9.19
Basic Weighted Avg Shares
18
22
25
28
35
39
40
42
45
49
50
50
- -
51
Sales/Revenue/Turnover
60
72
93
104
126
120
119
124
125
141
148
156
162
165
Operating Margin (%)
22.82
22.42
23.56
22.95
25.93
27.93
28.47
24.06
27.44
33.8
32.68
33.08
33.67
33.62
Depreciation Expense
13
16
20
22
27
26
27
28
29
32
33
35
36
37
Net Income, GAAP
4
8
7
8
8
21
24
6
12
35
19
37
50
50
Effective Tax Rate (%)
7.49
5.01
5.15
3.44
4.3
1.55
1.66
5.8
3.56
1.17
2.26
1.19
0.94
0.95
Profit Margin (%)
6.27
10.48
7.22
7.59
6.62
17.88
19.86
4.88
9.62
25.09
12.97
23.72
30.87
30.47
Working Capital
2
1
-4
-3
-7
12
-1
5
-2
2
17
51
-3
13
LT Debt
261
394
498
544
659
618
645
644
643
625
641
632
645
656
Total Equity
221
213
247
268
358
359
353
338
399
424
420
444
464
470
Return on Invested Capital (%)
1.97
1.77
1.87
1.79
2.07
2.5
3.42
2.87
3.33
4.55
4.53
4.79
4.94
4.99
Return on Capital (%)
3.28
3.03
2.63
2.86
2.91
5.72
10.96
6.84
8.26
14.58
12
16.23
18.38
18.1
Return on Common Equity (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
- -
- -
LT Borrowings
642
644
655
LT Finance Leases
1
1
1
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
51
51
51
Market Capitalization
625
708
825

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
78
50
45
Cash, Cash Equivalents & STI
7
5
6
Accounts Receivable, Net
17
17
17
Inventories
- -
- -
- -
Total Current Liabilities
49
53
33
Payables & Accruals
49
53
33
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
7.01%
6.69%
4.51%
Free Cash Flow
-3.18%
4.22%
-12.8%
Net Income, GAAP
49.02%
74.9%
35.33%
Sales/Revenue/Turnover
5.86%
5.59%
4%
Total Cash Common Dividend
2.07%
2.79%
11.53%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
38
38
39
41
156
2025
38
38
41
44
162
2026
42
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.19
0.05
0.15
0.34
0.73
2025
0.07
0.1
0.36
0.45
- -
2026
0.08
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.12
0.12
0.12
0.12
0.49
2025
0.13
0.13
0.13
0.13
- -
2026
0.14
- -
- -
- -
- -

Company Description

APIChat
CEO
David K. Holeman
Full Time Employees
69
Sector
Real Estate
Industry
REIT - Retail
Address
2600 South Gessner Road Houston TX United States of America 77063
IPO Date
Aug 26, 2010
Business
Whitestone REIT (NYSE: WSR) is a community-centered real estate investment trust that acquires, owns, operates, develops, redevelops, manages and leases open-air retail centers in high-growth U.S. markets including Phoenix, Austin, Dallas-Fort Worth, Houston and San Antonio. The company focuses on convenience-oriented properties merchandised with service tenants offering food including restaurants and grocers; self-care such as health and fitness facilities; services encompassing financial, logistics and education providers; and entertainment options for surrounding affluent communities. Whitestone REIT provides property management services to tenants covering leasing, maintenance and marketing support, while emphasizing strong community connections and deep tenant relationships to drive occupancy and acquisition strategies. Founded in 1998 and headquartered in Houston, Texas, at 2600 S Gessner Rd, the company owns approximately 55 properties totaling 4.9 million square feet of gross leasable area, targeting business-friendly locations in culturally diverse metropolitan areas. Its portfolio serves successful, growing neighborhoods with everyday essentials and lifestyle amenities, supported by an internally managed structure that includes subsidiaries like Whitestone REIT Operating Partnership, L.P. In recent developments, Whitestone REIT amended, expanded and extended its $750 million credit facility in September 2025, increasing capacity with a $375 million revolver maturing in September 2029 (with extension options) and a $375 million term loan maturing in January 2031, featuring lower interest rates including fixed swaps at 3.36%-3.42% plus 1.35% to enhance financial flexibility and support 5-7% Core FFO per share growth targets. The company received an unsolicited non-binding acquisition proposal in November 2025 from MCB Real Estate, which owns 9.2% of its common stock, offering $15.20 per share in cash, following prior proposals and subject to negotiation of definitive agreements. These moves complement ongoing operational improvements, such as elevated Green Street trade area scores and capital recycling in Texas and Arizona markets.

Company News

APIChat
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  • Shareholder Alert: Ademi LLP investigates whether Whitestone REIT is obtaining a Fair Price for Public Shareholders

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