Whitestone Reit - Understand $wsr stock

$WSR Market Cap: $728.8 Million

Research Board Inbox Deep Research Not Interested Shortlisted

Financial Snapshot

Revenue

$151.0M

TTM

Gross Margin

69.81%

TTM

Net Earnings

$21.10M

TTM

Current Assets

$84.66M

Q3 2024

Current Liabilities

$53.22M

Q3 2024

Current Ratio

159.09%

Q3 2024

Total Assets

$1.113B

Q3 2024

Total Liabilities

$687.6M

Q3 2024

Book Value

$425.0M

Q3 2024

Cash

$2.534M

Q3 2024

P/E

34.55

Nov 29, 2024 EST

Free Cash Flow

-$18.03M

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004
Revenue	$147.0M	$139.4M	$125.4M	$117.9M	$119.3M	$119.9M	$126.0M	$104.4M	$93.42M	$72.38M	$60.49M	$44.99M	$34.92M	$31.53M	$32.69M	$31.20M	$29.40M	$28.40M	$24.90M	$23.30M
YoY Change	5.41%	11.21%	6.32%	-1.12%	-0.51%	-4.84%	20.61%	11.8%	29.06%	19.66%	34.44%	28.87%	10.73%	-3.52%	4.76%	6.12%	3.52%	14.06%	6.87%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004
Revenue	$147.0M	$139.4M	$125.4M	$117.9M	$119.3M	$119.9M	$126.0M	$104.4M	$93.42M	$72.38M	$60.49M	$44.99M	$34.92M	$31.53M	$32.69M	$31.20M	$29.40M	$28.40M	$24.90M	$23.30M
Cost Of Revenue	$45.96M	$43.30M	$90.90M	$88.18M	$85.31M	$86.39M	$93.30M	$34.09M	$31.30M	$25.20M	$22.70M	$16.80M	$13.30M	$12.30M			$12.20M	$11.40M	$9.000M	$5.400M
Gross Profit	$101.0M	$96.13M	$34.47M	$29.73M	$33.95M	$33.47M	$32.66M	$70.35M	$62.10M	$47.20M	$37.80M	$28.20M	$21.60M	$19.30M			$17.10M	$16.90M	$15.90M	$17.90M
Gross Profit Margin	68.73%	68.95%	27.49%	25.21%	28.47%	27.93%	25.93%	67.36%	66.48%	65.21%	62.49%	62.68%	61.86%	61.21%			58.16%	59.51%	63.86%	76.82%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004
Selling, General & Admin	$20.65M	$18.07M	$22.63M	$21.30M	$21.70M	$23.30M	$23.90M	$23.90M	$20.30M	$15.30M	$10.90M	$7.600M	$6.600M	$5.000M	$6.100M	$6.700M	$6.700M	$3.800M	$2.000M	$3.900M
YoY Change	14.32%	-20.15%	6.22%	-1.84%	-6.87%	-2.51%	0.0%	17.73%	32.68%	40.37%	43.42%	15.15%	32.0%	-18.03%	-8.96%	0.0%	76.32%	90.0%	-48.72%
% of Gross Profit	20.45%	18.79%	65.64%	71.64%	63.93%	69.61%	73.18%	33.98%	32.69%	32.42%	28.84%	26.95%	30.56%	25.91%			39.18%	22.49%	12.58%	21.79%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$33.06M	$31.71M	$28.95M	$28.30M	$26.74M	$25.68M	$27.24M	$22.46M	$19.76M	$15.73M	$13.10M	$9.889M	$7.749M	$6.805M	$6.518M	$6.860M	$6.050M	$6.180M	$6.100M	$5.230M
YoY Change	4.27%	9.52%	2.29%	5.85%	4.13%	-5.73%	21.3%	13.64%	25.67%	20.04%	32.47%	27.62%	13.87%	4.4%	-4.99%	13.39%	-2.1%	1.31%	16.63%
% of Gross Profit	32.73%	32.98%	83.99%	95.2%	78.77%	76.72%	83.4%	31.92%	31.82%	33.32%	34.66%	35.07%	35.88%	35.26%			35.38%	36.57%	38.36%	29.22%
Operating Expenses	$53.62M	$49.77M	$24.27M	$24.12M	$24.99M	$19.58M	$23.41M	$65.19M	$40.10M	$31.00M	$24.10M	$19.70M	$14.50M	$11.20M	$24.00M	$25.70M	$12.80M	$10.00M	$8.100M	$9.200M
YoY Change	7.73%	105.06%	0.62%	-3.47%	27.65%	-16.37%	-64.09%	62.57%	29.35%	28.63%	22.34%	35.86%	29.46%	-53.33%	-6.61%	100.78%	28.0%	23.46%	-11.96%
Operating Profit	$47.39M	$46.35M	$10.20M	$5.609M	$8.958M	$13.90M	$9.252M	$5.156M	$22.00M	$16.20M	$13.70M	$8.500M	$7.100M	$8.100M			$4.300M	$6.900M	$7.800M	$8.700M
YoY Change	2.23%	354.62%	81.78%	-37.39%	-35.54%	50.21%	79.44%	-76.56%	35.8%	18.25%	61.18%	19.72%	-12.35%				-37.68%	-11.54%	-10.34%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004
Interest Expense	-$35.97M	$27.19M	$24.56M	$25.77M	$26.29M	$25.18M	$23.65M	$19.24M	$14.91M	$10.58M	$9.975M	$8.553M	$6.344M	$6.040M	$5.749M	-$6.700M	-$4.800M	-$4.900M	-$3.500M	-$2.500M
YoY Change	-232.28%	10.7%	-4.68%	-1.96%	4.4%	6.45%	22.93%	29.03%	40.94%	6.06%	16.63%	34.82%	5.03%	5.06%	-185.81%	39.58%	-2.04%	40.0%	40.0%
% of Operating Profit	-75.91%	58.67%	240.92%	459.44%	293.42%	181.17%	255.63%	373.14%	67.77%	65.3%	72.81%	100.62%	89.35%	74.57%			-111.63%	-71.01%	-44.87%	-28.74%
Other Income/Expense, Net	-$24.33M	-$10.37M	-$24.27M	-$24.12M
YoY Change	134.63%	-57.28%	0.62%

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004
Pretax Income	$19.90M	$35.98M	$10.81M	$6.500M	$24.00M	$22.30M	$9.300M	$5.200M	$7.200M	$5.600M	$3.900M	$100.0K	$1.200M	$1.800M	$2.300M	-$1.500M	-$500.0K	$2.300M	$4.300M	$6.200M
YoY Change	-44.7%	233.02%	66.23%	-72.92%	7.62%	139.78%	78.85%	-27.78%	28.57%	43.59%	3800.0%	-91.67%	-33.33%	-21.74%	-253.33%	200.0%	-121.74%	-46.51%	-30.65%
Income Tax	$450.0K	$422.0K	$385.0K	$379.0K	$400.0K	$347.0K	$386.0K	$289.0K	$372.0K	$282.0K	$293.0K	$275.0K	$225.0K	$264.0K	$222.0K	$200.0K	$200.0K	$0.00	$0.00	$0.00
% Of Pretax Income	2.26%	1.17%	3.56%	5.83%	1.67%	1.56%	4.15%	5.56%	5.17%	5.04%	7.51%	275.0%	18.75%	14.67%	9.65%			0.0%	0.0%	0.0%
Net Earnings	$19.18M	$35.27M	$12.05M	$6.034M	$23.68M	$21.43M	$8.334M	$7.931M	$6.749M	$7.586M	$3.794M	$50.00K	$1.123M	$1.105M	$1.342M	$1.100M	-$100.0K	$1.800M	$2.400M	$3.200M
YoY Change	-45.62%	192.75%	99.67%	-74.52%	10.51%	157.15%	5.08%	17.51%	-11.03%	99.95%	7488.0%	-95.55%	1.63%	-17.66%	22.0%	-1200.0%	-105.56%	-25.0%	-25.0%
Net Earnings / Revenue	13.05%	25.3%	9.61%	5.12%	19.86%	17.88%	6.62%	7.59%	7.22%	10.48%	6.27%	0.11%	3.22%	3.5%	4.11%	3.53%	-0.34%	6.34%	9.64%	13.73%
Basic Earnings Per Share	$0.39	$0.72	$0.26	$0.14	$0.59	$0.54	$0.22	$0.26	$0.25	$0.33	$0.21	$0.00	$0.12	$0.27
Diluted Earnings Per Share	$0.38	$0.71	$0.26	$0.14	$0.57	$0.52	$0.22	$0.26	$0.24	$0.32	$0.20	$0.00	$0.12	$0.27	$406.3K	$333.3K	-$30.30K	$562.5K	$923.1K	$1.391M

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004
Cash & Short-Term Investments	$4.572M	$6.166M	$15.72M	$25.80M	$15.50M	$13.70M	$5.000M	$4.200M	$2.600M	$4.200M	$6.500M	$6.500M	$5.700M	$17.60M	$6.300M	$13.00M	$10.80M	$8.300M	$800.0K	$600.0K
YoY Change	-25.85%	-60.78%	-39.07%	66.45%	13.14%	174.0%	19.05%	61.54%	-38.1%	-35.38%	0.0%	14.04%	-67.61%	179.37%	-51.54%	20.37%	30.12%	937.5%	33.33%
Cash & Equivalents	$4.572M	$6.166M	$15.72M	$25.80M	$15.50M	$13.70M	$5.000M	$4.200M	$2.600M	$4.200M	$6.500M	$6.500M	$5.700M	$17.60M	$6.300M	$13.00M	$10.80M	$8.300M	$800.0K	$600.0K
Short-Term Investments
Other Short-Term Assets	$4.656M	$7.714M	$1.773M	$1.500M	$2.400M	$7.300M	$6.200M	$2.800M	$2.700M	$2.200M	$2.100M	$2.200M	$1.000M	$700.0K	$700.0K	$800.0K	$900.0K	$700.0K	$700.0K	$100.0K
YoY Change	-39.64%	335.08%	18.2%	-37.5%	-67.12%	17.74%	121.43%	3.7%	22.73%	4.76%	-4.55%	120.0%	42.86%	0.0%	-12.5%	-11.11%	28.57%	0.0%	600.0%
Inventory
Prepaid Expenses
Receivables	$2.717M	$3.006M	$3.514M	$6.500M	$5.600M	$4.900M	$5.500M	$5.700M	$3.800M	$3.000M	$2.000M	$1.300M	$500.0K	$400.0K	$900.0K	$1.200M	$1.300M	$1.300M	$4.200M	$4.300M
Other Receivables	$29.39M	$23.94M	$19.73M	$16.80M	$17.70M	$22.80M	$15.60M	$14.30M	$11.70M	$8.800M	$7.800M	$7.300M	$5.600M	$4.300M	$3.600M	$3.700M	$4.100M	$3.500M	$2.800M	$2.600M
Total Short-Term Assets	$41.33M	$40.83M	$40.74M	$50.60M	$41.20M	$48.70M	$32.30M	$27.00M	$20.80M	$18.20M	$18.40M	$17.30M	$12.80M	$23.00M	$11.50M	$18.70M	$17.10M	$13.80M	$8.500M	$7.600M
YoY Change	1.24%	0.22%	-19.49%	22.82%	-15.4%	50.77%	19.63%	29.81%	14.29%	-1.09%	6.36%	35.16%	-44.35%	100.0%	-38.5%	9.36%	23.91%	62.35%	11.84%
Property, Plant & Equipment	$1.002B	$1.001B	$1.007B	$943.3M	$963.4M	$938.9M	$1.018B	$813.1M	$746.0M	$602.1M	$474.8M	$355.7M	$246.9M	$165.4M	$158.4M	$150.8M	$146.5M	$149.5M	$154.0M	$126.5M
YoY Change	0.08%	-0.54%	6.73%	-2.09%	2.61%	-7.81%	25.25%	8.99%	23.9%	26.81%	33.48%	44.07%	49.27%	4.42%	5.04%	2.94%	-2.01%	-2.92%	21.74%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$31.67M	$34.83M	$34.59M	$34.00M	$34.10M	$26.20M	$4.100M	$500.0K	$400.0K	$1.000M	$900.0K	$1.400M	$5.100M	$0.00
YoY Change	-9.06%	0.69%	1.73%	-0.29%	30.15%	539.02%	720.0%	25.0%	-60.0%	11.11%	-35.71%	-72.55%
Other Assets	$13.85M	$12.89M	$8.635M	$7.900M	$9.100M	$6.800M	$7.400M	$8.100M	$8.300M	$8.900M	$11.90M	$4.200M	$3.800M	$3.600M	$4.000M	$4.300M	$11.10M	$2.900M	$3.000M	$2.800M
YoY Change	7.49%	49.23%	9.3%	-13.19%	33.82%	-8.11%	-8.64%	-2.41%	-6.74%	-25.21%	183.33%	10.53%	5.56%	-10.0%	-6.98%	-61.26%	282.76%	-3.33%	7.14%
Total Long-Term Assets	$1.072B	$1.062B	$1.061B	$994.4M	$1.015B	$980.2M	$1.038B	$828.2M	$761.3M	$616.1M	$489.6M	$368.1M	$260.7M	$173.4M	$170.5M	$159.2M	$158.0M	$153.3M	$163.0M	$135.0M
YoY Change	0.94%	0.06%	6.73%	-2.04%	3.56%	-5.56%	25.32%	8.79%	23.57%	25.84%	33.01%	41.2%	50.35%	1.7%	7.1%	0.76%	3.07%	-5.95%	20.74%
Total Assets	$1.113B	$1.103B	$1.102B	$1.045B	$1.056B	$1.029B	$1.070B	$855.2M	$782.1M	$634.3M	$508.0M	$385.4M	$273.5M	$196.4M	$182.0M	$177.9M	$175.1M	$167.1M	$171.5M	$142.6M
YoY Change
Accounts Payable	$36.40M	$36.03M	$45.55M	$50.30M	$32.30M	$29.40M	$32.50M	$28.00M	$24.10M	$14.90M	$11.30M	$13.80M	$9.000M	$7.300M	$10.00M	$7.400M	$6.600M	$6.200M	$400.0K	$700.0K
YoY Change	1.04%	-20.9%	-9.45%	55.73%	9.86%	-9.54%	16.07%	16.18%	61.74%	31.86%	-18.12%	53.33%	23.29%	-27.0%	35.14%	12.12%	6.45%	1450.0%	-42.86%
Accrued Expenses	$112.0K	$129.0K	$231.0K	$600.0K	$1.300M
YoY Change	-13.18%	-44.16%	-61.5%	-53.85%
Deferred Revenue
YoY Change
Short-Term Debt	$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
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$52.73M	$52.15M	$60.21M	$62.50M	$52.70M	$47.20M	$49.70M	$42.90M	$37.20M	$25.90M	$21.20M	$21.90M	$14.90M	$11.20M	$13.40M	$10.70M	$10.60M	$10.10M	$7.100M	$3.000M
YoY Change	1.11%	-13.38%	-3.66%	18.6%	11.65%	-5.03%	15.85%	15.32%	43.63%	22.17%	-3.2%	46.98%	33.04%	-16.42%	25.23%	0.94%	4.95%	42.25%	136.67%
Long-Term Debt	$640.9M	$626.2M	$642.8M	$644.2M	$644.7M	$618.2M	$659.1M	$544.0M	$498.0M	$394.1M	$261.4M	$190.6M	$127.9M	$100.9M	$101.8M	$100.0M	$83.50M	$66.40M	$73.00M	$57.20M
YoY Change	2.35%	-2.59%	-0.21%	-0.08%	4.29%	-6.21%	21.16%	9.24%	26.36%	50.77%	37.15%	49.02%	26.76%	-0.88%	1.8%	19.76%	25.75%	-9.04%	27.62%
Other Long-Term Liabilities	$0.00	$0.00	$0.00	$0.00	$5.700M	$4.300M	$3.000M	$700.0K		$1.000M	$4.500M					$0.00	$300.0K		$3.100M	$2.700M
YoY Change				-100.0%	32.56%	43.33%	328.57%			-77.78%						-100.0%			14.81%
Total Long-Term Liabilities	$640.9M	$626.2M	$642.8M	$644.2M	$650.4M	$622.5M	$662.1M	$544.7M	$498.0M	$395.1M	$265.9M	$190.6M	$127.9M	$100.9M	$101.8M	$100.0M	$83.80M	$66.40M	$76.10M	$59.90M
YoY Change	2.35%	-2.59%	-0.21%	-0.95%	4.48%	-5.98%	21.55%	9.38%	26.04%	48.59%	39.51%	49.02%	26.76%	-0.88%	1.8%	19.33%	26.2%	-12.75%	27.05%
Total Liabilities	$699.5M	$684.3M	$709.3M	$712.9M	$710.9M	$678.4M	$722.6M	$599.5M	$539.1M	$424.2M	$292.2M	$219.3M	$157.5M	$133.7M	$138.4M	$132.1M	$122.3M	$108.2M	$117.7M	$102.8M
YoY Change	2.22%	-3.52%	-0.5%	0.28%	4.79%	-6.12%	20.53%	11.2%	27.09%	45.17%	33.24%	39.24%	17.8%	-3.4%	4.77%	8.01%	13.03%	-8.07%	14.49%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Basic Shares Outstanding	49.50M	49.26M	45.49M shares	42.24M shares	40.18M shares	39.27M shares	35.43M shares	27.62M shares	24.63M shares	22.28M shares	27.21M shares	13.50M shares	9.028M shares	4.012M shares	3.236M shares
Diluted Shares Outstanding	50.81M	49.95M	46.34M shares	42.99M shares	41.46M shares	40.61M shares	36.26M shares	28.38M shares	25.68M shares	22.79M shares	18.27M shares	13.61M shares	9.042M shares	4.041M shares	3.302M shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $728.8 Million

About Whitestone REIT

Whitestone REIT engages in the operation of commercial properties in culturally diverse markets of major metropolitan areas. The company is headquartered in Houston, Texas and currently employs 73 full-time employees. The company went IPO on 2010-08-26. Its centers are convenience focused merchandised with a mix of service-oriented tenants providing food (restaurants and grocers), self-care (health and fitness), services (financial and logistics), education and entertainment to the surrounding communities. The firm's properties include Ahwatukee Plaza, Kempwood Plaza, Davenport Village, Eldorado Plaza, Fountain Hills Plaza, Fountain Square, Fulton Ranch Towne Center, Anderson Arbor, Lakeside Market, Headquarters Village, Heritage Trace Plaza, La Mirada, Keller Place, Lakeside Market, Keller Place, Town Park Plaza, Lion Square, Las Colinas Village, Lake Woodlands Crossing, Dana Park Pad, Arcadia Towne Center and Garden Oaks Shopping Center, among others. The company also owns Scottsdale Commons, a retail center in Scottsdale.

Industry: Real Estate Investment Trusts Peers: Necessity Retail REIT, Inc. CBL & ASSOCIATES PROPERTIES INC PENNSYLVANIA REAL ESTATE INVESTMENT TRUST RPT Realty REALTY INCOME CORP SAUL CENTERS, INC. Wheeler Real Estate Investment Trust, Inc.