$WSR
Whitestone REIT

2023 Q2 Form 10-Q Financial Statement

#000143774923012381 Filed on May 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $36.46M $35.85M $34.12M
YoY Change 4.18% 5.06% 17.48%
Cost Of Revenue $11.67M $10.79M $21.05M
YoY Change 4.18% -48.72% -2.2%
Gross Profit $24.79M $25.06M $13.07M
YoY Change 4.18% 91.68% 73.81%
Gross Profit Margin 68.0% 69.89% 38.31%
Selling, General & Admin $5.175M $5.084M $3.049M
YoY Change -0.14% 66.74% -45.84%
% of Gross Profit 20.87% 20.29% 23.32%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $8.382M $7.846M $7.911M
YoY Change 6.63% -0.82% 12.8%
% of Gross Profit 33.81% 31.31% 60.52%
Operating Expenses $13.54M $12.93M $6.062M
YoY Change 3.76% 113.3% -0.33%
Operating Profit $11.26M $12.13M $7.010M
YoY Change 4.69% 73.0% 387.14%
Interest Expense $8.260M $7.903M $6.061M
YoY Change 32.5% 30.39% -1.16%
% of Operating Profit 73.36% 65.17% 86.46%
Other Income/Expense, Net $1.365M -$7.889M -$6.062M
YoY Change -121.99% 30.14%
Pretax Income $12.62M $4.238M $7.290M
YoY Change 177.63% -41.87% 376.47%
Income Tax $125.0K $119.0K $101.0K
% Of Pretax Income 0.99% 2.81% 1.39%
Net Earnings $11.31M $3.847M $7.078M
YoY Change 160.63% -45.65% 400.21%
Net Earnings / Revenue 31.01% 10.73% 20.74%
Basic Earnings Per Share $0.23 $0.08 $0.14
Diluted Earnings Per Share $0.22 $0.08 $0.14
COMMON SHARES
Basic Shares Outstanding 49.43M 49.42M 49.15M shares
Diluted Shares Outstanding 50.26M 50.16M 50.31M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.927M $3.479M $11.14M
YoY Change -65.42% -68.76% -51.16%
Cash & Equivalents $2.927M $3.479M $11.14M
Short-Term Investments
Other Short-Term Assets $11.85M $7.309M $3.340M
YoY Change 308.13% 118.83% 28.46%
Inventory
Prepaid Expenses
Receivables $3.160M $3.158M $3.332M
Other Receivables $25.30M $25.14M $21.62M
Total Short-Term Assets $43.24M $39.08M $39.42M
YoY Change 21.01% -0.86% -20.2%
LONG-TERM ASSETS
Property, Plant & Equipment $1.017B $997.6M $1.003B
YoY Change 1.76% -0.51% 6.87%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $33.57M $34.61M $34.87M
YoY Change -3.6% -0.75% 2.35%
Other Assets $12.98M $12.61M $8.578M
YoY Change 49.54% 46.95% 5.9%
Total Long-Term Assets $1.086B $1.055B $1.056B
YoY Change 3.06% -0.07% 6.92%
TOTAL ASSETS
Total Short-Term Assets $43.24M $39.08M $39.42M
Total Long-Term Assets $1.086B $1.055B $1.056B
Total Assets $1.129B $1.094B $1.095B
YoY Change 3.65% -0.1% 5.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $30.47M $28.20M $30.80M
YoY Change 6.2% -8.44% -24.14%
Accrued Expenses $98.00K $111.0K $210.0K
YoY Change -42.69% -47.14% -65.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $46.57M $44.23M $46.30M
YoY Change 4.39% -4.48% -12.81%
LONG-TERM LIABILITIES
Long-Term Debt $650.8M $631.1M $643.9M
YoY Change 2.0% -1.98% -0.21%
Other Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
Total Long-Term Liabilities $650.8M $631.1M $643.9M
YoY Change 2.0% -1.98% -0.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $46.57M $44.23M $46.30M
Total Long-Term Liabilities $650.8M $631.1M $643.9M
Total Liabilities $697.3M $675.4M $690.2M
YoY Change 2.15% -2.15% -1.16%
SHAREHOLDERS EQUITY
Retained Earnings -$209.1M -$214.5M
YoY Change -6.81%
Common Stock $50.00K $49.00K $622.1M
YoY Change 2.04% -99.99% 10.42%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $425.4M $412.6M $398.5M
YoY Change
Total Liabilities & Shareholders Equity $1.129B $1.094B $1.095B
YoY Change 3.65% -0.1% 5.63%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income $11.31M $3.847M $7.078M
YoY Change 160.63% -45.65% 400.21%
Depreciation, Depletion And Amortization $8.382M $7.846M $7.911M
YoY Change 6.63% -0.82% 12.8%
Cash From Operating Activities $16.80M $4.915M $4.915M
YoY Change 25.36% 0.0% 19.79%
INVESTING ACTIVITIES
Capital Expenditures $44.14M $3.529M -$3.359M
YoY Change -1250.48% -205.06% 119.54%
Acquisitions
YoY Change
Other Investing Activities $13.45M
YoY Change
Cash From Investing Activities -$30.70M -$3.529M -$3.359M
YoY Change 700.03% 5.06% 119.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 13.28M -$4.069M -$6.214M
YoY Change -209.11% -34.52% 10.87%
NET CHANGE
Cash From Operating Activities 16.80M $4.915M $4.915M
Cash From Investing Activities -30.70M -$3.529M -$3.359M
Cash From Financing Activities 13.28M -$4.069M -$6.214M
Net Change In Cash -623.0K -$2.683M -$4.658M
YoY Change -76.11% -42.4% 53.73%
FREE CASH FLOW
Cash From Operating Activities $16.80M $4.915M $4.915M
Capital Expenditures $44.14M $3.529M -$3.359M
Free Cash Flow -$27.35M $1.386M $8.274M
YoY Change -258.68% -83.25% 46.88%

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StockIssuedDuringPeriodValueShareBasedCompensation
755000 usd
CY2023Q1 us-gaap Dividends
Dividends
6014000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax Parent
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent
-4587000 usd
CY2023Q1 us-gaap Profit Loss
ProfitLoss
3901000 usd
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
418526000 usd
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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 Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
15000 usd
CY2022Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-1413000 usd
CY2022Q1 us-gaap Dividends
Dividends
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
CY2023Q1 us-gaap Profit Loss
ProfitLoss
3901000 usd
CY2022Q1 us-gaap Profit Loss
ProfitLoss
7189000 usd
CY2023Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
7846000 usd
CY2022Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
7911000 usd
CY2023Q1 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
277000 usd
CY2022Q1 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
274000 usd
CY2023Q1 us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
-6000 usd
CY2022Q1 us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
-15000 usd
CY2023Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
324000 usd
CY2022Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
372000 usd
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
755000 usd
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
-1413000 usd
CY2023Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-218000 usd
CY2022Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
280000 usd
CY2023Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
29000 usd
CY2022Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
0 usd
CY2023Q1 us-gaap Increase Decrease In Deposits Outstanding
IncreaseDecreaseInDepositsOutstanding
-2796000 usd
CY2022Q1 us-gaap Increase Decrease In Deposits Outstanding
IncreaseDecreaseInDepositsOutstanding
-1874000 usd
CY2023Q1 us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
1646000 usd
CY2022Q1 us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
1913000 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
26000 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
164000 usd
CY2023Q1 us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
521000 usd
CY2022Q1 us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
697000 usd
CY2023Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1117000 usd
CY2022Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-295000 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-7843000 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-8781000 usd
CY2023Q1 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
1000 usd
CY2022Q1 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
210000 usd
CY2023Q1 us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
-85000 usd
CY2022Q1 us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
23000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
4915000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
4915000 usd
CY2023Q1 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
3529000 usd
CY2022Q1 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
3359000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3529000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3359000 usd
CY2023Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
5913000 usd
CY2022Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
5268000 usd
CY2023Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
83000 usd
CY2022Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
83000 usd
CY2023Q1 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
9500000 usd
CY2022Q1 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
0 usd
CY2023Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
7571000 usd
CY2022Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
863000 usd
CY2023Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
2000 usd
CY2022Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
-0 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-4069000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-6214000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2683000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-4658000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
6355000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
15914000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3672000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
11256000 usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
7610000 usd
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
5772000 usd
CY2023Q1 wstr Disposal Of Fully Depreciated Real Estate
DisposalOfFullyDepreciatedRealEstate
864000 usd
CY2022Q1 wstr Disposal Of Fully Depreciated Real Estate
DisposalOfFullyDepreciatedRealEstate
20000 usd
CY2023Q1 wstr Dollar Amount Of Insurance Premiums Financed During Reporting Period
DollarAmountOfInsurancePremiumsFinancedDuringReportingPeriod
3002000 usd
CY2022Q1 wstr Dollar Amount Of Insurance Premiums Financed During Reporting Period
DollarAmountOfInsurancePremiumsFinancedDuringReportingPeriod
1846000 usd
CY2023Q1 us-gaap Stock Issued1
StockIssued1
17000 usd
CY2022Q1 us-gaap Stock Issued1
StockIssued1
15000 usd
CY2023Q1 us-gaap Unrealized Gain Loss On Cash Flow Hedging Instruments
UnrealizedGainLossOnCashFlowHedgingInstruments
-4587000 usd
CY2022Q1 us-gaap Unrealized Gain Loss On Cash Flow Hedging Instruments
UnrealizedGainLossOnCashFlowHedgingInstruments
5986000 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3479000 usd
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
11136000 usd
CY2023Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
193000 usd
CY2022Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
120000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3672000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11256000 usd
CY2023Q1 wstr Reorganization And Conversion Number Of Common Shares
ReorganizationAndConversionNumberOfCommonShares
1.42857 pure
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
229000 usd
CY2023Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
29000 usd
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"/> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: 36pt;"><i>Use of Estimates.</i>   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-<em style="font: inherit;">19</em> 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 <em style="font: inherit;">not</em> 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.</p>
CY2023Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<i>Reclassifications.</i>  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 <em style="font: inherit;">no</em> effect on net income, total assets, total liabilities or equity.
CY2023Q1 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
134000 usd
CY2023Q1 wstr Real Estate Taxes Capitalized
RealEstateTaxesCapitalized
73000 usd
CY2022Q1 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
99000 usd
CY2022Q1 wstr Real Estate Taxes Capitalized
RealEstateTaxesCapitalized
75000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
829000 usd
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
-1329000 usd
CY2022Q1 wstr Reversal Of Share Based Compensation Expense For Forfeitures
ReversalOfShareBasedCompensationExpenseForForfeitures
2.2 usd
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
14000000.0 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
13800000 usd
CY2023Q1 us-gaap Net Investment In Lease Credit Loss Expense Reversal
NetInvestmentInLeaseCreditLossExpenseReversal
300000 usd
CY2022Q1 us-gaap Net Investment In Lease Credit Loss Expense Reversal
NetInvestmentInLeaseCreditLossExpenseReversal
400000 usd
CY2023Q1 wstr Accounts Receivable Credit Loss Expense Reversal Number Of Tenants Covid19
AccountsReceivableCreditLossExpenseReversalNumberOfTenantsCovid19
71 pure
CY2023Q1 wstr Straight Line Rent Adjustments Covid19
StraightLineRentAdjustmentsCovid19
200000 usd
CY2023Q1 wstr Accounts Receivable Credit Loss Expense Reversal Covid19
AccountsReceivableCreditLossExpenseReversalCovid19
200000 usd
CY2022Q1 wstr Accounts Receivable Credit Loss Expense Reversal Number Of Tenants Covid19
AccountsReceivableCreditLossExpenseReversalNumberOfTenantsCovid19
77 pure
CY2022Q1 wstr Straight Line Rent Adjustments Covid19
StraightLineRentAdjustmentsCovid19
400000 usd
CY2022Q1 wstr Accounts Receivable Credit Loss Expense Reversal Covid19
AccountsReceivableCreditLossExpenseReversalCovid19
200000 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
3071000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
6000 usd
CY2023Q1 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
2338000 usd
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
72459000 usd
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
86345000 usd
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
69783000 usd
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
54657000 usd
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
42932000 usd
CY2023Q1 wstr Lessor Operating Lease Payment To Be Received After Year Four
LessorOperatingLeasePaymentToBeReceivedAfterYearFour
127363000 usd
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
453539000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
45000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
45000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
43000 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
61000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
28000 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
63000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1000 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
64000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
0 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
65000 usd
CY2023Q1 wstr Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
0 usd
CY2023Q1 wstr Finance Lease Liability To Be Paid After Year Four
FinanceLeaseLiabilityToBePaidAfterYearFour
2773000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
117000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
111000 usd
CY2023Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
733000 usd
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
33000 usd
CY2022Q4 wstr Deferred Costs Gross
DeferredCostsGross
20877000 usd
CY2022Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
0 usd
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y4M24D
CY2023Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P99Y
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.045 pure
CY2023Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.06 pure
CY2023Q1 wstr Tenant Receivables
TenantReceivables
17163000 usd
CY2022Q4 wstr Tenant Receivables
TenantReceivables
16828000 usd
CY2023Q1 wstr Accrued Rents And Other Recoveries
AccruedRentsAndOtherRecoveries
23149000 usd
CY2022Q4 wstr Accrued Rents And Other Recoveries
AccruedRentsAndOtherRecoveries
22103000 usd
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
14005000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
13822000 usd
CY2023Q1 us-gaap Other Receivables
OtherReceivables
585000 usd
CY2022Q4 us-gaap Other Receivables
OtherReceivables
461000 usd
CY2023Q1 us-gaap Accounts Receivable Net
AccountsReceivableNet
26892000 usd
CY2022Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
25570000 usd
CY2023Q1 us-gaap Deferred Costs Leasing Gross
DeferredCostsLeasingGross
16397000 usd
CY2022Q4 us-gaap Deferred Costs Leasing Gross
DeferredCostsLeasingGross
16364000 usd
CY2023Q1 us-gaap Other Deferred Costs Gross
OtherDeferredCostsGross
362000 usd
CY2022Q4 us-gaap Other Deferred Costs Gross
OtherDeferredCostsGross
364000 usd
CY2023Q1 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
4149000 usd
CY2022Q4 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
4149000 usd
CY2023Q1 wstr Deferred Costs Gross
DeferredCostsGross
20908000 usd
CY2023Q1 us-gaap Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
7736000 usd
CY2022Q4 us-gaap Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
7649000 usd
CY2023Q1 us-gaap Accumulated Amortization Of Other Deferred Costs
AccumulatedAmortizationOfOtherDeferredCosts
267000 usd
CY2022Q4 us-gaap Accumulated Amortization Of Other Deferred Costs
AccumulatedAmortizationOfOtherDeferredCosts
263000 usd
CY2023Q1 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
493000 usd
CY2022Q4 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
268000 usd
CY2023Q1 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
12412000 usd
CY2022Q4 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
12697000 usd
CY2023Q1 us-gaap Equity Method Investments
EquityMethodInvestments
34608000 usd
CY2022Q4 us-gaap Equity Method Investments
EquityMethodInvestments
34826000 usd
CY2023Q1 wstr Equity Method Investment Difference Between Carrying Amount And Underlying Equity Amortization
EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquityAmortization
27000 usd
CY2023Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
630922000 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
625991000 usd
CY2023Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
513000 usd
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
564000 usd
CY2023Q1 us-gaap Secured Debt
SecuredDebt
157100000 usd
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
23634000 usd
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
63573000 usd
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
17143000 usd
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
130143000 usd
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
97143000 usd
CY2023Q1 wstr Long Term Debt Maturities Repayments Of Principal After Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour
299286000 usd
CY2023Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
630922000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
3901000 usd
CY2022Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
7189000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
54000 usd
CY2022Q1 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
111000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
3847000 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
7078000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49424000
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49145000
CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
736000
CY2022Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1161000
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50160000
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50306000
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.08
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.14
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.08
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.14
CY2023Q1 wstr Applicable Tax Rate Used To Determine State Margin Tax
ApplicableTaxRateUsedToDetermineStateMarginTax
0.0075 pure
CY2023Q1 wstr Margin Tax Provision Recognized
MarginTaxProvisionRecognized
119000 usd
CY2022Q1 wstr Margin Tax Provision Recognized
MarginTaxProvisionRecognized
101000 usd
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
400000000
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2022Q2 wstr Issuance And Sale Of Securities Maximum
IssuanceAndSaleOfSecuritiesMaximum
500000000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
0
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
-0
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
0 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
360334
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
11.61
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
519003
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
3442000 usd
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
904215
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
5.99
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
1024808
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
9757000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
829000 usd
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
-1329000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
35222
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
35222
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
9.52

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