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Complete financial analysis of Whitestone REIT (WSR) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Whitestone REIT, a leading company in the REIT – Retail industry within the Real Estate sector.
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Whitestone REIT (WSR)
About Whitestone REIT
Whitestone is a community-centered shopping center REIT that acquires, owns, manages, develops and redevelops high-quality open-air neighborhood centers primarily in the largest, fastest-growing and most affluent markets in the Sunbelt. Whitestone seeks to create communities that thrive through creating local connections between consumers in the surrounding communities and a well-crafted mix of national, regional and local tenants that provide daily necessities, needed services, entertainment and experiences. Whitestone is a monthly dividend paying stock and has consistently paid dividends for over 15 years. Whitestone's strong, balanced and managed capital structure provides stability and flexibility for growth and positions Whitestone to perform well through economic cycles.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 147.92M | 140.58M | 125.37M | 117.92M | 119.25M | 119.86M | 125.96M | 104.44M | 93.42M | 72.38M | 62.15M | 46.55M | 34.92M | 31.53M | 32.69M | 31.20M | 30.98M | 29.84M | 25.22M | 23.48M | 20.97M | 20.76M | 125.37M |
| Cost of Revenue | 45.96M | 43.30M | 39.32M | 38.58M | 36.90M | 37.43M | 42.11M | 34.09M | 31.34M | 25.15M | 23.51M | 17.64M | 13.33M | 12.28M | 12.99M | 13.19M | 9.17M | 10.93M | 8.25M | 6.25M | 5.36M | 5.72M | 39.32M |
| Gross Profit | 101.96M | 97.28M | 86.04M | 79.34M | 82.35M | 82.43M | 83.85M | 70.35M | 62.08M | 47.23M | 38.64M | 28.92M | 21.59M | 19.25M | 19.69M | 18.01M | 21.82M | 18.91M | 16.97M | 17.23M | 15.61M | 15.03M | 86.04M |
| Gross Profit Ratio | 68.93% | 69.20% | 68.63% | 67.28% | 69.05% | 68.77% | 66.57% | 67.36% | 66.46% | 65.25% | 62.17% | 62.11% | 61.83% | 61.05% | 60.25% | 57.72% | 70.42% | 63.38% | 67.28% | 73.38% | 74.43% | 72.42% | 68.63% |
| Research & Development | 0.00 | 0.26 | 0.09 | 0.05 | 0.20 | 0.19 | 0.07 | 0.05 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| General & Administrative | 20.65M | 18.07M | 22.63M | 21.30M | 21.66M | 23.28M | 23.95M | 23.92M | 20.31M | 15.27M | 10.91M | 7.62M | 6.65M | 4.99M | 6.07M | 6.71M | 6.72M | 4.52M | 2.63M | 2.94M | 2.81M | 2.44M | 22.63M |
| Selling & Marketing | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| SG&A | 20.65M | 18.07M | 22.63M | 21.30M | 21.66M | 23.28M | 23.95M | 23.92M | 20.31M | 15.27M | 10.91M | 7.62M | 6.65M | 4.99M | 6.07M | 6.71M | 6.72M | 4.52M | 2.63M | 2.94M | 2.81M | 2.44M | 22.63M |
| Other Expenses | 0.00 | 32.86M | 28.95M | 28.30M | 26.74M | 25.68M | 27.24M | 22.46M | 19.76M | 15.73M | 13.43M | -2.18M | 8.37M | 7.23M | 5.42M | 6.86M | 10.13M | 6.86M | 6.23M | 5.22M | 4.97M | 4.12M | 68.27M |
| Operating Expenses | 101.96M | 50.93M | 51.58M | 49.61M | 48.40M | 48.96M | 51.19M | 46.38M | 40.07M | 31.00M | 24.34M | 17.85M | 15.01M | 12.22M | 11.49M | 13.57M | 16.85M | 11.38M | 8.86M | 8.15M | 7.78M | 6.56M | 90.90M |
| Cost & Expenses | 93.71M | 94.22M | 90.90M | 88.18M | 85.31M | 86.39M | 93.30M | 80.47M | 71.41M | 56.15M | 47.85M | 35.48M | 28.34M | 24.50M | 24.48M | 26.76M | 26.02M | 22.31M | 17.11M | 14.41M | 13.14M | 12.28M | 130.22M |
| Interest Income | 51.00K | 65.00K | 116.00K | 278.00K | 659.00K | 1.06M | 410.00K | 429.00K | 313.00K | 90.00K | 136.00K | 290.00K | 460.00K | 28.00K | 36.00K | 182.00K | 577.00K | 386.00K | 511.92K | 444.69K | 367.79K | 331.54K | -116.00K |
| Interest Expense | 32.87M | 27.19M | 24.56M | 25.77M | 26.29M | 25.18M | 23.65M | 19.24M | 14.91M | 10.58M | 10.15M | 8.73M | 5.73M | 5.62M | 5.75M | 5.86M | 5.40M | 5.30M | 3.77M | 2.66M | 1.32M | 1.57M | 24.56M |
| Depreciation & Amortization | 33.06M | 92.98M | 85.38M | 90.26M | 85.75M | 85.75M | 94.87M | 82.86M | 19.76M | 15.73M | 13.43M | 10.23M | 7.75M | 7.23M | 6.96M | 6.86M | 6.34M | 6.48M | 6.10M | 5.22M | 4.76M | 4.04M | 28.95M |
| EBITDA | 87.18M | 78.36M | 64.14M | 59.23M | 76.42M | 61.24M | 58.33M | 46.41M | 41.77M | 31.96M | 27.07M | 19.41M | 15.65M | 13.69M | 13.62M | 5.80M | 5.88M | 8.74M | 14.21M | 14.30M | 12.59M | 12.51M | 65.38M |
| EBITDA Ratio | 58.94% | 55.74% | 51.16% | 50.23% | 64.08% | 57.26% | 47.88% | 44.86% | 45.05% | 44.27% | 44.83% | 41.70% | 44.11% | 45.81% | 46.50% | 36.80% | 38.31% | 46.18% | 56.34% | 60.90% | 60.03% | 60.29% | 52.15% |
| Operating Income | 48.34M | 46.66M | 35.19M | 30.93M | 49.68M | 33.47M | 32.66M | 23.97M | 22.01M | 16.23M | 14.29M | 11.07M | 1.31M | 1.44M | 2.49M | 4.44M | 4.97M | 7.53M | 8.11M | 9.08M | 7.83M | 8.47M | 10.42M |
| Operating Income Ratio | 32.68% | 33.19% | 28.07% | 26.23% | 41.66% | 27.93% | 25.93% | 22.95% | 23.56% | 22.42% | 23.00% | 23.78% | 3.74% | 4.57% | 7.63% | 14.23% | 16.03% | 25.24% | 32.15% | 38.66% | 37.34% | 40.81% | 8.31% |
| Total Other Income/Expenses | -28.44M | -11.29M | -29.09M | -26.78M | -10.95M | -38.91M | -23.69M | -15.56M | -14.78M | -10.60M | -10.38M | -3.55M | 0.00 | -5.45M | -4.37M | -5.90M | -5.26M | -4.68M | -1.89B | -2.99B | -3.03B | 0.00 | -224.00K |
| Income Before Tax | 19.90M | 36.22M | 10.81M | 6.53M | 24.03M | 22.33M | 9.25M | 8.42M | 7.23M | 5.63M | 4.22M | 339.00K | 1.56M | 2.00M | 2.30M | -1.23M | 94.00K | 1.78M | 2.45B | 3.42B | 3.47B | 0.00 | 10.20M |
| Income Before Tax Ratio | 13.45% | 25.77% | 8.62% | 5.54% | 20.15% | 18.63% | 7.35% | 8.06% | 7.74% | 7.78% | 6.80% | 0.73% | 4.46% | 6.34% | 7.03% | -3.96% | 0.30% | 5.97% | 9,707.60% | 14,578.73% | 16,565.02% | 0.00% | 8.13% |
| Income Tax Expense | 450.00K | 422.00K | 385.00K | 379.00K | 400.00K | 347.00K | 386.00K | 289.00K | 372.00K | 282.00K | 305.00K | 286.00K | 225.00K | 264.00K | 222.00K | 219.00K | 217.00K | 5.75M | -1.88B | -2.98B | -3.03B | 4.77M | -385.00K |
| Net Income | 19.18M | 35.27M | 12.05M | 6.03M | 23.68M | 21.43M | 8.33M | 7.93M | 6.75M | 7.59M | 3.79M | 50.00K | 1.12M | 1.11M | 1.34M | 1.13M | -77.00K | 1.78M | 2.45M | 3.42M | 3.47M | 3.71M | 12.25M |
| Net Income Ratio | 12.97% | 25.09% | 9.61% | 5.12% | 19.86% | 17.88% | 6.62% | 7.59% | 7.22% | 10.48% | 6.11% | 0.11% | 3.22% | 3.50% | 4.11% | 3.63% | -0.25% | 5.97% | 9.71% | 14.58% | 16.57% | 17.85% | 9.77% |
| EPS | 0.39 | 0.72 | 0.22 | 0.14 | 0.59 | 0.55 | 0.22 | 0.26 | 0.25 | 0.33 | 0.21 | 0.00 | 0.12 | 0.27 | 0.41 | 0.36 | -0.01 | 0.55 | 0.75 | 1.05 | 1.07 | 1.14 | 0.00 |
| EPS Diluted | 0.38 | 0.71 | 0.22 | 0.14 | 0.57 | 0.53 | 0.22 | 0.26 | 0.24 | 0.32 | 0.20 | 0.00 | 0.12 | 0.27 | 0.40 | 0.36 | -0.01 | 0.54 | 0.74 | 1.04 | 1.05 | 1.12 | 0.00 |
| Weighted Avg Shares Out | 49.50M | 49.26M | 45.49M | 42.24M | 40.18M | 39.27M | 35.43M | 27.62M | 24.63M | 22.28M | 18.03M | 13.50M | 9.03M | 4.01M | 3.24M | 3.28M | 5.69M | 3.26M | 3.26M | 3.26M | 3.26M | 3.26M | 0.00 |
| Weighted Avg Shares Out (Dil) | 50.81M | 49.95M | 46.34M | 42.99M | 41.46M | 40.61M | 36.26M | 28.38M | 25.68M | 22.79M | 18.27M | 13.61M | 9.04M | 4.04M | 3.30M | 3.28M | 5.69M | 3.30M | 3.30M | 3.30M | 3.30M | 3.30M | 0.00 |
EREZ ASSET MANAGEMENT SENDS LETTER TO WHITESTONE SHAREHOLDERS QUESTIONING RECENT CONDUCT OF WHITESTONE REIT BOARD
Whitestone Seeks to Distract Shareholders from its Board and Management's Many Failings and Scandals by Promoting a False Narrative About Erez's Intentions Urgent Change is Desperately Needed at Whitestone, with New Trustees that Bring Relevant REIT Capital Markets and Shopping...
EREZ ASSET MANAGEMENT RESPONDS TO FALSE ACCUSATIONS IN WHITESTONE REIT'S PRESS RELEASE
Reiterates the Need for Change at Whitestone, the Shopping Center REIT that Trades at the Biggest Discount to NAV of its Cited Peers Notes the Irony of a Board Filled with Undisclosed Former Service Providers to Mr. Mastandrea Claiming that One...
Leading Proxy Advisory Firm Glass Lewis Recommends That Shareholders Vote FOR ALL of Whitestone REIT's Board Nominees on the WHITE Proxy Card
Glass Lewis Further Recommends That Shareholders Do Not Vote For Any EREZ Nominees Glass Lewis Further Recommends That Shareholders Do Not Vote For Any EREZ Nominees
Whitestone REIT Reports First Quarter 2024 Results
HOUSTON, May 01, 2024 (GLOBE NEWSWIRE) -- Whitestone REIT (NYSE: WSR) (“Whitestone” or the “Company”) today announced its operating and financial results for the first quarter of 2024. Whitestone creates neighborhood center communities in its high-quality open-air shopping centers that it...
LEADING PROXY ADVISORY FIRM ISS RECOMMENDS WHITESTONE REIT SHAREHOLDERS VOTE FOR CHANGE USING EREZ ASSET MANAGEMENT'S BLUE PROXY CARD
ISS Finds that Erez Makes a "Compelling Case" and Erez Nominee Bruce Schanzer Would Bring Relevant Shopping Center REIT Experience, an Independent Perspective, and a History of Engaging Collaboratively with Shareholders to the Board Erez Encourages Whitestone Shareholders to Vote...
Whitestone REIT Board of Trustees Sets the Record Straight
Board Highlights Proven Turnaround Strategy Executed by New Leadership Team Since Early 2022 Erez's Materials Demonstrate Lack of Understanding of Whitestone's Business Mr. Schanzer's Indicating He Never Advocated For a "Corporate Unwind Scenario" Displays His Lack of Honesty and Transparency...
EREZ ASSET MANAGEMENT SENDS LETTER TO WHITESTONE REIT SHAREHOLDERS COMMENTING ON THE BOARD'S LACK OF CANDOR
Whitestone's Presentation Twists the Facts and Fails to Address the Company's Significant Underperformance and the Board's Misguided Capital Allocation and Manifest Governance Failures Erez Encourages Whitestone Shareholders to Vote "FOR" Catherine Clark and Bruce Schanzer, Two Experienced Real Estate Executives,...
Whitestone REIT Publishes Investor Presentation Highlighting Execution of Our Strategy to Continue Driving Long Term Sustainable Value Creation
Our Strong, Thoughtfully Refreshed Board Has Executed on Driving Shareholder Value Urges Shareholders to Vote “FOR” ONLY Whitestone REIT's Highly Qualified Trustee Nominees on the WHITE Proxy Card Today HOUSTON, April 24, 2024 (GLOBE NEWSWIRE) -- Whitestone REIT (NYSE: WSR)...
EREZ ASSET MANAGEMENT RELEASES PRESENTATION OUTLINING THE CASE FOR CHANGE AT WHITESTONE REIT
Highlights the Whitestone Board's Performance and Governance Failures and Details How Erez's Trustee Nominees Can Help Restore Value for Shareholders Erez Urges Whitestone Shareholders to Protect Their Investment by Voting "FOR" Catherine Clark and Bruce Schanzer and to "WITHHOLD" from...
Whitestone REIT: Undersupplied Submarkets Portend Growth
Whitestone REIT has highly advantaged properties in 5 submarkets, leading to higher rents and potential property value of $20 per share. The tight occupancy and increasing demand in these markets have resulted in rental rates increasing by 20% and expected...
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