NYSE:WSR

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Executive Summary

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. More Details


Snowflake Analysis

Good value average dividend payer.


Similar Companies

Share Price & News

How has Whitestone REIT's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: WSR is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: WSR's weekly volatility has decreased from 11% to 5% over the past year.


Market Performance


7 Day Return

7.0%

WSR

1.4%

US REITs

-2.5%

US Market


1 Year Return

-25.9%

WSR

-6.2%

US REITs

34.1%

US Market

Return vs Industry: WSR underperformed the US REITs industry which returned -6.2% over the past year.

Return vs Market: WSR underperformed the US Market which returned 34.1% over the past year.


Shareholder returns

WSRIndustryMarket
7 Day7.0%1.4%-2.5%
30 Day13.1%4.6%0.1%
90 Day16.2%4.9%4.5%
1 Year-20.9%-25.9%-1.8%-6.2%37.1%34.1%
3 Year-1.6%-22.8%41.4%24.3%58.0%47.9%
5 Year27.8%-14.8%57.0%25.4%131.9%106.2%

Long-Term Price Volatility Vs. Market

How volatile is Whitestone REIT's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Whitestone REIT undervalued compared to its fair value and its price relative to the market?

19.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: WSR ($9.59) is trading below our estimate of fair value ($11.86)

Significantly Below Fair Value: WSR is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: WSR is good value based on its PE Ratio (21.4x) compared to the US REITs industry average (43.4x).

PE vs Market: WSR is good value based on its PE Ratio (21.4x) compared to the US market (21.5x).


Price to Earnings Growth Ratio

PEG Ratio: WSR is poor value based on its PEG Ratio (2.8x)


Price to Book Ratio

PB vs Industry: WSR is good value based on its PB Ratio (1.2x) compared to the US REITs industry average (1.6x).


Next Steps

Future Growth

How is Whitestone REIT forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

7.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: WSR's forecast earnings growth (7.5% per year) is above the savings rate (2%).

Earnings vs Market: WSR's earnings (7.5% per year) are forecast to grow slower than the US market (20.4% per year).

High Growth Earnings: WSR's earnings are forecast to grow, but not significantly.

Revenue vs Market: WSR's revenue (3.9% per year) is forecast to grow slower than the US market (10.5% per year).

High Growth Revenue: WSR's revenue (3.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if WSR's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Whitestone REIT performed over the past 5 years?

28.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: WSR has a large one-off gain of $13.5M impacting its September 30 2020 financial results.

Growing Profit Margin: WSR's current net profit margins (15.8%) are higher than last year (12.9%).


Past Earnings Growth Analysis

Earnings Trend: WSR's earnings have grown significantly by 28.8% per year over the past 5 years.

Accelerating Growth: WSR's earnings growth over the past year (20.3%) is below its 5-year average (28.8% per year).

Earnings vs Industry: WSR earnings growth over the past year (20.3%) exceeded the REITs industry -5.6%.


Return on Equity

High ROE: WSR's Return on Equity (5.7%) is considered low.


Next Steps

Financial Health

How is Whitestone REIT's financial position?


Financial Position Analysis

Short Term Liabilities: WSR's short term assets ($73.5M) exceed its short term liabilities ($38.6M).

Long Term Liabilities: WSR's short term assets ($73.5M) do not cover its long term liabilities ($690.0M).


Debt to Equity History and Analysis

Debt Level: WSR's debt to equity ratio (203%) is considered high.

Reducing Debt: WSR's debt to equity ratio has increased from 199.6% to 203% over the past 5 years.

Debt Coverage: WSR's debt is not well covered by operating cash flow (7%).

Interest Coverage: WSR's interest payments on its debt are not well covered by EBIT (1.2x coverage).


Balance Sheet


Next Steps

Dividend

What is Whitestone REIT current dividend yield, its reliability and sustainability?

4.38%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: WSR's dividend (4.38%) is higher than the bottom 25% of dividend payers in the US market (1.34%).

High Dividend: WSR's dividend (4.38%) is in the top 25% of dividend payers in the US market (3.75%)


Stability and Growth of Payments

Stable Dividend: WSR's dividend payments have been volatile in the past 10 years.

Growing Dividend: WSR's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (92.3%), WSR's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: WSR's dividends in 3 years are forecast to be covered by earnings (52.9% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

12.5yrs

Average management tenure


CEO

Jim Mastandrea (77 yo)

14.33yrs

Tenure

US$2,617,875

Compensation

Mr. James C. Mastandrea, also known as Jim, has been the Chief Executive Officer at Whitestone REIT since October 2006. Mr. Mastandrea has been the President and Chairman of the Board of Pillarstone Capita...


CEO Compensation Analysis

Compensation vs Market: Jim's total compensation ($USD2.62M) is above average for companies of similar size in the US market ($USD1.53M).

Compensation vs Earnings: Jim's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
James Mastandrea
Chairman & CEO14.33yrsUS$2.62m2.73%
$ 10.9m
David Holeman
Chief Financial Officer14.25yrsUS$1.34m0.96%
$ 3.8m
John Dee
COO, Executive VP & Secretary14.33yrsUS$723.93k0.40%
$ 1.6m
Christine C. Mastandrea
Executive Vice President of Corporate Strategy3yrsUS$769.69k0.49%
$ 2.0m
Kevin Reed
Director of Investor Relationsno datano datano data
Peter Tropoli
General Counsel1.25yrsno datano data
Michelle Siv
Director of Human Resourcesno datano datano data
J. Hogan
VP & Controller12.5yrsno datano data
Dennis Younes
VP & Director of Leasing4.5yrsno datano data

12.5yrs

Average Tenure

57yo

Average Age

Experienced Management: WSR's management team is seasoned and experienced (12.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
James Mastandrea
Chairman & CEO14.33yrsUS$2.62m2.73%
$ 10.9m
Paul Lambert
Independent Trustee7.92yrsUS$64.25k0.17%
$ 664.1k
Jeffrey Jones
Independent Trustee1yrno data0.025%
$ 101.7k
Daniel DeVos
Trustee Emeritus8.08yrsno datano data
Jack Mahaffey
Independent Trustee21.08yrsUS$63.75k0.14%
$ 549.0k
Nandita Berry
Independent Trustee3.42yrsUS$64.25k0.046%
$ 185.2k
David Taylor
Lead Independent Trusteeno dataUS$65.25k0.036%
$ 145.5k

8.0yrs

Average Tenure

64.5yo

Average Age

Experienced Board: WSR's board of directors are considered experienced (8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: WSR insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 3.8%.


Top Shareholders

Company Information

Whitestone REIT's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Whitestone REIT
  • Ticker: WSR
  • Exchange: NYSE
  • Founded: 1998
  • Industry: Retail REITs
  • Sector: Real Estate
  • Implied Market Cap: US$399.388m
  • Market Cap: US$406.177m
  • Shares outstanding: 43.13m
  • Website: https://www.whitestonereit.com

Number of Employees


Location

  • Whitestone REIT
  • 2600 South Gessner Road
  • Suite 500
  • Houston
  • Texas
  • 77063
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
WSRNYSE (New York Stock Exchange)YesCommon SharesUSUSDAug 2010

Biography

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 a...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/02/24 00:11
End of Day Share Price2021/02/23 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.