$WSR
Whitestone REIT

2022 Q1 Form 10-Q Financial Statement

#000117553522000082 Filed on May 06, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q4 2021 Q1
Revenue $34.12M $33.26M $29.05M
YoY Change 17.48% 11.48% -5.03%
Cost Of Revenue $21.05M $10.46M $21.52M
YoY Change -2.2% 4.94% -3.06%
Gross Profit $13.07M $22.80M $7.521M
YoY Change 73.81% 14.72% -10.25%
Gross Profit Margin 38.31% 68.54% 25.89%
Selling, General & Admin $3.049M $6.589M $5.630M
YoY Change -45.84% 15.6% 10.39%
% of Gross Profit 23.32% 28.91% 74.86%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.911M $7.492M $7.013M
YoY Change 12.8% 4.2% 0.6%
% of Gross Profit 60.52% 32.87% 93.25%
Operating Expenses $6.062M $14.08M $6.082M
YoY Change -0.33% 9.32% -11.06%
Operating Profit $7.010M $8.714M $1.439M
YoY Change 387.14% 24.66% -6.68%
Interest Expense $6.061M -$5.954M $6.132M
YoY Change -1.16% -0.27% -8.38%
% of Operating Profit 86.46% -68.33% 426.13%
Other Income/Expense, Net -$6.062M
YoY Change
Pretax Income $7.290M $2.759M $1.530M
YoY Change 376.47% -15.37% -11.56%
Income Tax $101.0K $111.0K $87.00K
% Of Pretax Income 1.39% 4.02% 5.69%
Net Earnings $7.078M $2.608M $1.415M
YoY Change 400.21% -16.2% -12.22%
Net Earnings / Revenue 20.74% 7.84% 4.87%
Basic Earnings Per Share $0.14 $0.05 $0.03
Diluted Earnings Per Share $0.14 $0.05 $0.03
COMMON SHARES
Basic Shares Outstanding 49.15M shares 49.11M shares 42.50M shares
Diluted Shares Outstanding 50.31M shares 43.33M shares

Balance Sheet

Concept 2022 Q1 2021 Q4 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.14M $15.72M $22.80M
YoY Change -51.16% -39.07% -38.04%
Cash & Equivalents $11.14M $15.72M $22.82M
Short-Term Investments
Other Short-Term Assets $3.340M $1.773M $2.600M
YoY Change 28.46% 18.2% -23.53%
Inventory
Prepaid Expenses
Receivables $3.332M $3.514M $6.100M
Other Receivables $21.62M $19.73M $17.90M
Total Short-Term Assets $39.42M $40.74M $49.40M
YoY Change -20.2% -19.49% -22.81%
LONG-TERM ASSETS
Property, Plant & Equipment $1.003B $1.007B $938.2M
YoY Change 6.87% 6.73% -2.06%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $34.87M $34.59M $34.07M
YoY Change 2.35% 1.79% -0.64%
Other Assets $8.578M $8.635M $8.100M
YoY Change 5.9% 9.3% -8.99%
Total Long-Term Assets $1.056B $1.061B $987.2M
YoY Change 6.92% 6.73% -1.99%
TOTAL ASSETS
Total Short-Term Assets $39.42M $40.74M $49.40M
Total Long-Term Assets $1.056B $1.061B $987.2M
Total Assets $1.095B $1.102B $1.037B
YoY Change 5.63% 5.46% -3.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $30.80M $45.55M $40.60M
YoY Change -24.14% -9.45% 59.84%
Accrued Expenses $210.0K $231.0K $600.0K
YoY Change -65.0% -61.5% -45.45%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $46.30M $60.21M $53.10M
YoY Change -12.81% -3.66% 39.01%
LONG-TERM LIABILITIES
Long-Term Debt $643.9M $642.8M $645.2M
YoY Change -0.21% -0.21% -4.47%
Other Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change -100.0%
Total Long-Term Liabilities $643.9M $642.8M $645.2M
YoY Change -0.21% -0.21% -6.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $46.30M $60.21M $53.10M
Total Long-Term Liabilities $643.9M $642.8M $645.2M
Total Liabilities $690.2M $703.1M $698.3M
YoY Change -1.16% -0.51% -4.37%
SHAREHOLDERS EQUITY
Retained Earnings -$224.0M
YoY Change
Common Stock $622.1M $623.5M $563.4M
YoY Change 10.42% 10.89% 1.19%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $398.5M $392.8M $332.1M
YoY Change
Total Liabilities & Shareholders Equity $1.095B $1.102B $1.037B
YoY Change 5.63% 5.46% -3.24%

Cashflow Statement

Concept 2022 Q1 2021 Q4 2021 Q1
OPERATING ACTIVITIES
Net Income $7.078M $2.608M $1.415M
YoY Change 400.21% -16.2% -12.22%
Depreciation, Depletion And Amortization $7.911M $7.492M $7.013M
YoY Change 12.8% 4.2% 0.6%
Cash From Operating Activities $4.915M $15.34M $4.103M
YoY Change 19.79% 13.1% -21.29%
INVESTING ACTIVITIES
Capital Expenditures -$3.359M -$31.81M -$1.530M
YoY Change 119.54% 1952.13% -3.77%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$3.359M -$31.81M -$1.528M
YoY Change 119.83% 1952.13% -4.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $324.0K
YoY Change -100.0% -153.03%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$6.214M 21.42M -$5.605M
YoY Change 10.87% -185.14% -131.82%
NET CHANGE
Cash From Operating Activities $4.915M 15.34M $4.103M
Cash From Investing Activities -$3.359M -31.81M -$1.528M
Cash From Financing Activities -$6.214M 21.42M -$5.605M
Net Change In Cash -$4.658M 4.950M -$3.030M
YoY Change 53.73% -137.64% -114.27%
FREE CASH FLOW
Cash From Operating Activities $4.915M $15.34M $4.103M
Capital Expenditures -$3.359M -$31.81M -$1.530M
Free Cash Flow $8.274M $47.14M $5.633M
YoY Change 46.88% 212.01% -17.2%

Facts In Submission

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StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
399038000 USD
CY2022Q1 us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
0 USD
CY2022Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
0 USD
CY2022Q1 wsr Stock Issued During Period Converison Expense
StockIssuedDuringPeriodConverisonExpense
0 USD
CY2022Q1 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
15000 USD
CY2022Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
0 USD
CY2022Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-1413000 USD
CY2022Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
5989000 USD
CY2022Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax Parent
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent
5986000 USD
CY2022Q1 us-gaap Profit Loss
ProfitLoss
7189000 USD
CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
404826000 USD
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
338326000 USD
CY2021Q1 us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
0 USD
CY2021Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
0 USD
CY2021Q1 wsr Stock Issued During Period Converison Expense
StockIssuedDuringPeriodConverisonExpense
0 USD
CY2021Q1 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
15000 USD
CY2021Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
324000 USD
CY2021Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1398000 USD
CY2021Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
4705000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax Parent
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent
2221000 USD
CY2021Q1 us-gaap Profit Loss
ProfitLoss
1441000 USD
CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
338372000 USD
CY2022Q1 us-gaap Profit Loss
ProfitLoss
7189000 USD
CY2021Q1 us-gaap Profit Loss
ProfitLoss
1441000 USD
CY2022Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
7911000 USD
CY2021Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
7013000 USD
CY2022Q1 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
274000 USD
CY2021Q1 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
274000 USD
CY2022Q1 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-15000 USD
CY2021Q1 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
1000 USD
CY2022Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
372000 USD
CY2021Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
529000 USD
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
-1413000 USD
CY2021Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1398000 USD
CY2022Q1 us-gaap Net Income Loss From Real Estate Investment Partnership Attributable To Parent
NetIncomeLossFromRealEstateInvestmentPartnershipAttributableToParent
280000 USD
CY2021Q1 us-gaap Net Income Loss From Real Estate Investment Partnership Attributable To Parent
NetIncomeLossFromRealEstateInvestmentPartnershipAttributableToParent
89000 USD
CY2022Q1 us-gaap Increase Decrease In Deposits Outstanding
IncreaseDecreaseInDepositsOutstanding
-1874000 USD
CY2021Q1 us-gaap Increase Decrease In Deposits Outstanding
IncreaseDecreaseInDepositsOutstanding
-2352000 USD
CY2022Q1 us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
1913000 USD
CY2021Q1 us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
829000 USD
CY2022Q1 us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
164000 USD
CY2021Q1 us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
396000 USD
CY2022Q1 wsr Increase Decrease In Unamortized Lease Commissions And Loan Costs
IncreaseDecreaseInUnamortizedLeaseCommissionsAndLoanCosts
697000 USD
CY2021Q1 wsr Increase Decrease In Unamortized Lease Commissions And Loan Costs
IncreaseDecreaseInUnamortizedLeaseCommissionsAndLoanCosts
844000 USD
CY2022Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-295000 USD
CY2021Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-611000 USD
CY2022Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-8781000 USD
CY2021Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-7534000 USD
CY2022Q1 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
210000 USD
CY2021Q1 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
35000 USD
CY2022Q1 us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
23000 USD
CY2021Q1 us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
143000 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
4915000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
4103000 USD
CY2022Q1 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
3359000 USD
CY2021Q1 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
1528000 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3359000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1528000 USD
CY2022Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
5268000 USD
CY2021Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
4480000 USD
CY2022Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
83000 USD
CY2021Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
82000 USD
CY2022Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
863000 USD
CY2021Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
719000 USD
CY2022Q1 us-gaap Stock Issued1
StockIssued1
15000 USD
CY2022Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2021Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
324000 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-6214000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-5605000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-4658000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-3030000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
15914000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
25956000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11256000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
22926000 USD
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
5772000 USD
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
5936000 USD
CY2022Q1 wsr Disposal Of Fully Depreciated Real Estate
DisposalOfFullyDepreciatedRealEstate
20000 USD
CY2021Q1 wsr Disposal Of Fully Depreciated Real Estate
DisposalOfFullyDepreciatedRealEstate
3000 USD
CY2022Q1 wsr Dollar Amount Of Insurance Premiums Financed During Reporting Period
DollarAmountOfInsurancePremiumsFinancedDuringReportingPeriod
1846000 USD
CY2021Q1 wsr Dollar Amount Of Insurance Premiums Financed During Reporting Period
DollarAmountOfInsurancePremiumsFinancedDuringReportingPeriod
1712000 USD
CY2021Q1 us-gaap Stock Issued1
StockIssued1
15000 USD
CY2022Q1 wsr Non Cash Investing And Financing Change In Fair Value Of Cash Flow Hedge
NonCashInvestingAndFinancingChangeInFairValueOfCashFlowHedge
5986000 USD
CY2021Q1 wsr Non Cash Investing And Financing Change In Fair Value Of Cash Flow Hedge
NonCashInvestingAndFinancingChangeInFairValueOfCashFlowHedge
2221000 USD
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
11136000 USD
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
22820000 USD
CY2022Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
120000 USD
CY2021Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
106000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11256000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
22926000 USD
CY2004Q3 wsr Reorganizationand Conversion Numberof Common Shares
ReorganizationandConversionNumberofCommonShares
1.42857 shares
CY2022Q1 wsr Conversion Ratio For Class Common Stock To Op Unit
ConversionRatioForClassCommonStockToOPUnit
1 shares
CY2022Q1 wsr Conversion Ratio For Class Common Stock To Op Unit
ConversionRatioForClassCommonStockToOPUnit
1 shares
CY2022Q1 us-gaap Use Of Estimates
UseOfEstimates
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:115%">Use of Estimates.   </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates that we use include the estimated fair values of properties acquired, the estimated useful lives for depreciable and amortizable assets and costs, the grant date fair value of common share units included in share-based compensation expense, the estimated allowance for doubtful accounts, the estimated fair value of interest rate swaps and the estimates supporting our impairment analysis for the carrying values of our real estate assets.  Actual results could differ from those estimates. In particular, the COVID-19 pandemic has adversely impacted and is likely to further adversely impact the Company’s business and markets, including the Company’s operations and the operations of its tenants. The full extent to which the pandemic will directly or indirectly impact the Company’s business, results of operations and financial condition, including revenues, expenses, reserves and allowances, fair value measurements, and asset impairment charges, will depend on future developments that are highly uncertain and difficult to predict. These developments include, but are not limited to, the duration and spread of the pandemic, its severity in our markets and elsewhere, the impact on our tenants’ businesses and financial condition, governmental actions to contain the spread of the pandemic and respond to the reduction in global economic activity, and how quickly and to what extent normal economic and operating conditions can resume.</span>
CY2022Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Reclassifications.  </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have reclassified certain prior period amounts in the accompanying consolidated financial statements in order to be consistent with the current period presentation. These reclassifications had no effect on net income, total assets, total liabilities or equity.</span>
CY2022Q1 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
99000 USD
CY2022Q1 wsr Real Estate Taxes Capitalized
RealEstateTaxesCapitalized
75000 USD
CY2021Q1 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
102000 USD
CY2021Q1 wsr Real Estate Taxes Capitalized
RealEstateTaxesCapitalized
79000 USD
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
-1329000 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1468000 USD
CY2022Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
15300000 USD
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
14900000 USD
CY2022Q1 wsr Operating Lease Lease Income Bad Debt Expense
OperatingLeaseLeaseIncomeBadDebtExpense
400000 USD
CY2021Q1 wsr Operating Lease Lease Income Bad Debt Expense
OperatingLeaseLeaseIncomeBadDebtExpense
500000 USD
CY2022Q1 wsr Accounts Receivable Credit Loss Expense Reversal Number Of Tenants Covid19
AccountsReceivableCreditLossExpenseReversalNumberOfTenantsCOVID19
77000 tenant
CY2022Q1 wsr Accounts Receivable Credit Loss Expense Reversal Covid19
AccountsReceivableCreditLossExpenseReversalCOVID19
230000 USD
CY2022Q1 wsr Straight Line Rent Adjustments Covid19
StraightLineRentAdjustmentsCOVID19
400000 USD
CY2021Q1 wsr Accounts Receivable Credit Loss Expense Reversal Number Of Tenants Covid19
AccountsReceivableCreditLossExpenseReversalNumberOfTenantsCOVID19
67000 tenant
CY2021Q1 wsr Accounts Receivable Credit Loss Expense Reversal Covid19
AccountsReceivableCreditLossExpenseReversalCOVID19
500000 USD
CY2021Q1 wsr Straight Line Rent Adjustments Covid19
StraightLineRentAdjustmentsCOVID19
100000 USD
CY2022Q1 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
70547000 USD
CY2022Q1 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
85238000 USD
CY2022Q1 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
71462000 USD
CY2022Q1 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
55060000 USD
CY2022Q1 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
40249000 USD
CY2022Q1 wsr Lessor Operating Lease Payment To Be Received After Year Four
LessorOperatingLeasePaymentToBeReceivedAfterYearFour
117717000 USD
CY2022Q1 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
440273000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
86000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
65000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
43000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
28000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1000 USD
CY2022Q1 wsr Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
0 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
223000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
13000 USD
CY2021Q4 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
3898000 USD
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
210000 USD
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
229000 USD
CY2021Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
257000 USD
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y10M24D
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.045
CY2022Q1 wsr Tenant Receivables
TenantReceivables
18678000 USD
CY2021Q4 wsr Tenant Receivables
TenantReceivables
18410000 USD
CY2022Q1 wsr Accrued Rent And Other Recoveries
AccruedRentAndOtherRecoveries
20119000 USD
CY2021Q4 wsr Accrued Rent And Other Recoveries
AccruedRentAndOtherRecoveries
18681000 USD
CY2022Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
15346000 USD
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
14896000 USD
CY2022Q1 us-gaap Other Receivables
OtherReceivables
485000 USD
CY2021Q4 us-gaap Other Receivables
OtherReceivables
200000 USD
CY2022Q1 us-gaap Accounts Receivable Net
AccountsReceivableNet
23936000 USD
CY2021Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
22395000 USD
CY2022Q1 us-gaap Deferred Costs Leasing Gross
DeferredCostsLeasingGross
13948000 USD
CY2021Q4 us-gaap Deferred Costs Leasing Gross
DeferredCostsLeasingGross
13341000 USD
CY2022Q1 wsr Deferred Legal Cost
DeferredLegalCost
391000 USD
CY2021Q4 wsr Deferred Legal Cost
DeferredLegalCost
365000 USD
CY2022Q1 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
3898000 USD
CY2022Q1 wsr Unamortized Lease Commissions And Loan Costs Gross
UnamortizedLeaseCommissionsAndLoanCostsGross
18237000 USD
CY2021Q4 wsr Unamortized Lease Commissions And Loan Costs Gross
UnamortizedLeaseCommissionsAndLoanCostsGross
17604000 USD
CY2022Q1 us-gaap Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
6691000 USD
CY2021Q4 us-gaap Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
6305000 USD
CY2022Q1 us-gaap Accumulated Amortization Of Other Deferred Costs
AccumulatedAmortizationOfOtherDeferredCosts
257000 USD
CY2021Q4 us-gaap Accumulated Amortization Of Other Deferred Costs
AccumulatedAmortizationOfOtherDeferredCosts
248000 USD
CY2022Q1 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
2831000 USD
CY2021Q4 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
2609000 USD
CY2022Q1 wsr Unamortized Lease Commissions And Loan Costs Net
UnamortizedLeaseCommissionsAndLoanCostsNet
8458000 USD
CY2021Q4 wsr Unamortized Lease Commissions And Loan Costs Net
UnamortizedLeaseCommissionsAndLoanCostsNet
8442000 USD
CY2022Q1 us-gaap Equity Method Investments
EquityMethodInvestments
34868000 USD
CY2021Q4 us-gaap Equity Method Investments
EquityMethodInvestments
34588000 USD
CY2022Q1 us-gaap Equity Method Investments
EquityMethodInvestments
34868000 USD
CY2021Q4 us-gaap Equity Method Investments
EquityMethodInvestments
34588000 USD
CY2022Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
644596000 USD
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
643613000 USD
CY2022Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
720000 USD
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
771000 USD
CY2022Q1 us-gaap Long Term Debt
LongTermDebt
643876000 USD
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
642842000 USD
CY2022Q1 us-gaap Secured Debt
SecuredDebt
158700000 USD
CY2022Q1 wsr Number Of Collateralized Properties
NumberOfCollateralizedProperties
7 property
CY2022Q1 wsr Carrying Value Of Collateralized Properties
CarryingValueOfCollateralizedProperties
245900000 USD
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
102945000 USD
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
147363000 USD
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
228574000 USD
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
17143000 USD
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
17143000 USD
CY2022Q1 wsr Long Term Debt Maturity After Year Four
LongTermDebtMaturityAfterYearFour
131428000 USD
CY2022Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
644596000 USD
CY2022Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
7189000 USD
CY2021Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
1441000 USD
CY2022Q1 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
111000 USD
CY2021Q1 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
26000 USD
CY2022Q1 wsr Net Income Loss Attributable To Parent Excluding Amounts Attributable To Unvested Restricted Shares Total
NetIncomeLossAttributableToParentExcludingAmountsAttributableToUnvestedRestrictedSharesTotal
7078000 USD
CY2021Q1 wsr Net Income Loss Attributable To Parent Excluding Amounts Attributable To Unvested Restricted Shares Total
NetIncomeLossAttributableToParentExcludingAmountsAttributableToUnvestedRestrictedSharesTotal
1415000 USD
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49145000 shares
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42495000 shares
CY2022Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1161000 shares
CY2021Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
836000 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50306000 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
43331000 shares
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.14
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.03
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.14
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.03
CY2022Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
400000000 shares
CY2022Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2022Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2022Q1 wsr Conversion Ratio For Class Common Stock To Op Unit
ConversionRatioForClassCommonStockToOPUnit
1 shares
CY2022Q1 wsr Conversion Ratio For Class Common Stock To Op Unit
ConversionRatioForClassCommonStockToOPUnit
1 shares
CY2022Q1 wsr Weighted Average Share Ownership In Operating Partnership
WeightedAverageShareOwnershipInOperatingPartnership
0.985
CY2021Q1 wsr Weighted Average Share Ownership In Operating Partnership
WeightedAverageShareOwnershipInOperatingPartnership
0.982
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
-1329000 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1468000 USD
CY2021Q4 wsr Number Of Independent Trustees
NumberOfIndependentTrustees
5 trustee
CY2021Q4 wsr Numberof Trustee Emeritus
NumberofTrusteeEmeritus
1 trustee

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exhibit3112022-03.htm Edgar Link pending
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