Whitestone REIT

Whitestone REIT

WSRยทNYSE

$19.04

+0.11%
Real EstateREIT - Retail

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.

At a Glance

Live Snapshot
Market Cap$978.54M
EPS0.9800
P/E Ratio19.43
Earnings Date08/04/2026

Intrinsic Alpha Methodology

Thesis Lenses

Signal ยท Driver ยท Risk

Signal

High confidence

Valuation multiple is mid-range (P/E 19.4).

Valuation inputs: P/E 19.4, earnings yield +5.1%, momentum +0.1%.

If multiples stay elevated while momentum fades, downside repricing risk rises.

Driver

High confidence

Return profile is soft (ROE +10.9%, ROIC +4.5%).

Profitability stack: net margin +31.0%, ROE +10.9%, ROIC +4.5%.

Quality deterioration often appears in margins before it shows up in headline EPS.

Risk

High confidence

Downside profile looks controlled across current risk inputs.

Risk factors: liabilities/assets +60.4%, momentum +0.1%, net margin +31.0%.

Higher leverage with weak momentum and thin margins can amplify drawdown severity.

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Whitestone REIT Market vs Earnings Trajectory

WSR ยท NYSE

Loading price and EPS data...

Whitestone REIT

Whitestone REIT Fair Value Envelope

WSR ยท NYSE

Our analysis suggests that WSR has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $19.04, this represents a potential HIDDEN relative to our calculated worth for Whitestone REIT.

Intrinsic Value
Current Price: $19.04
3Y+36.0%
5Y+600.0%
10Y+277.0%
3Y+14.0%
5Y+30.0%
10Y+54.0%
3Y+42.0%
5Y+727.0%
10Y+530.0%
3Y+14.0%
5Y+19.0%
10Y+30.0%
3Y+14.0%
5Y+19.0%
10Y-217.0%
3Y+6.0%
5Y+12.0%
10Y+37.0%
Whitestone REIT

Whitestone REIT Profit Bridge

WSR ยท NYSE
Revenue160.86M
Cost of Goods Sold (50.13M)
Gross Profit110.72M
Operating Expenses (57.15M)
Operating Income53.58M
Interest Expense (33.67M)
Other Income/Expense-2.54M
Pretax Income51.04M
Income Tax (482.00K)
Net Income49.93M
Net Income
49.93M

Profitability Analysis

Gross Margin

68.8%

Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.

Operating Margin

33.3%

Outstanding operational efficiency. The company generates substantial profit from core operations.

Net Profit Margin

31.0%

Exceptional profitability. The company converts a significant portion of revenue to bottom-line earnings.

Effective Tax Rate

0.9%

Below-average tax rate suggests effective tax planning, favorable jurisdictions, or tax credits.

Profitability Insight

Exceptional profitability across all levels: Strong pricing power, efficient operations, and healthy bottom line indicate a high-quality business with sustainable competitive advantages.

68.83%
Gross Profit Margin
-2%
3Y-1.0%
5Y-
10Y+2.0%
33.31%
Operating Profit Margin
1%
3Y-1.0%
5Y-
10Y+45.0%
31.04%
Net Profit Margin
31%
3Y+24.0%
5Y+536.0%
10Y+309.0%
10.90%
Return on Equity
29%
3Y+29.0%
5Y+500.0%
10Y+251.0%
4.26%
Return on Assets
31%
3Y+33.0%
5Y+638.0%
10Y+360.0%
4.53%
Return on Invested Capital
-3%
3Y+2.0%
5Y-
10Y+60.0%
WSR

Whitestone REIT Cash Conversion Engine

WSR ยท NYSE
Net Income50.56M
Depreciation & Amortization36.02M
Stock-Based Compensation5.32M
Change in Working Capital-11.22M
Others-29.90M
Capital Expenditures0.00
Free Cash Flow50.77M

Cash Flow Quality Analysis

FCF Conversion Rate

100.4%

Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.

FCF Growth Trend

-12.8%

Declining FCF warrants attention. Investigate whether due to temporary factors or fundamental deterioration.

Working Capital Impact

-$11.22M

Moderate working capital outflow. Typical for growing businesses, but ensure it's supporting revenue growth, not inefficiency.

Cash Flow Quality Insight

Asset-light with strong cash conversion: Low capital requirements combined with efficient cash generation creates significant shareholder value through dividends, buybacks, or strategic investments.

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Whitestone REIT Funding & Solvency Profile

WSR ยท NYSE
Cash & Cash Equivalents6.02M
Net Receivables37.44M
Inventory0.00
Other Current Assets0.00
Total Current Assets43 M
Property, Plant & Equipment10.29M
Goodwill & Intangible Assets0.00
Long-Term Investments0.00
Other Non-Current Assets0.00
Total Non-Current Assets10 M
Total Assets
1.09B

Financial Health Analysis

Debt-to-Equity Ratio

1.79x

Elevated leverage. Debt exceeds equity, which amplifies both gains and risks. Monitor debt servicing ability.

Working Capital

43 M

Strong working capital position provides significant operational flexibility and financial cushion.

Asset Composition

4% Current

Capital-intensive business with significant long-term investments in property, equipment, or intangibles.

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Whitestone REIT Street Expectations Map

WSR ยท NYSE

Wall Street analysts project that WSR stock may see slight declines over the coming 12 months. The consensus 1-year price target stands at 18.25, with estimates ranging from a low of 16.00 to a high of 19.00.

Lowest Target
16.00
-15.97%
Consensus Target
18.25
-4.15%
Highest Target
19.00
-0.21%

The consensus 1-year price target stands at 18.25, with estimates ranging from a low of 16.00 to a high of 19.00.

Analyst Consensus Analysis

Upside Potential

-4.2%

Fair value territory. Stock trading near consensus target suggests limited near-term catalysts. Focus on fundamental developments.

Analyst Agreement

16.4% spread

High analyst agreement. Narrow target range indicates strong consensus on valuation, suggesting clear investment thesis and predictable outlook.

Risk-Reward Profile

0.01x

Unfavorable risk-reward. Downside risk exceeds upside potential. Consider defensive positioning or alternative opportunities.

Analyst Conviction

Moderate

Neutral sentiment. Fair value pricing with moderate agreement suggests wait-and-see approach or catalyst-driven opportunity.

Market Sentiment Insight

Efficient pricing: Stock trading at fair value with strong consensus suggests market has priced in expectations. Look for fundamental inflection points or new catalysts to drive meaningful moves.

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Whitestone REIT Insider Positioning

WSR ยท NYSE

During the last 12 months, there has been no insider trading activity reported for WSR.

3 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

3-6 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

6-9 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

9-12 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

Top Buyers

No buying activity

Top Sellers

No selling activity

Insider Activity Analysis

Net Insider Sentiment

Neutral

No insider trading activity reported. This could indicate blackout periods, lack of conviction, or regulatory restrictions.

Insider Participation

No Activity

No insider trading activity reported from any insiders in the past year.

0.00%
Dividend Yield
-100%
3Y-100.0%
5Y-100.0%
10Y-100.0%
ย 

wsr Dividend History

WSR
10Y CAGR +14%
Latest $0.142
Annual $0.555
5 year growth trend
Last Period: +0%