Whitestone REIT (WSR) Stock Overview
A community-centered real estate investment trust (REIT) that acquires, owns, operates, and develops open-air, retail centers located in some of the fastest growing markets in the country: Phoenix, Austin, Dallas-Fort Worth, Houston and San Antonio. More details
| Snowflake Score | |
|---|---|
| Valuation | 4/6 |
| Future Growth | 0/6 |
| Past Performance | 4/6 |
| Financial Health | 2/6 |
| Dividends | 3/6 |
Rewards
Risk Analysis
+ 1 more risk
WSR Community Fair Values
Create NarrativeSee what 10 others think this stock is worth. Follow their fair value or set your own to get alerts.
Analyst Price Targets
Whitestone REIT Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$18.98 |
| 52 Week High | US$19.01 |
| 52 Week Low | US$11.43 |
| Beta | 0.80 |
| 1 Month Change | 0.26% |
| 3 Month Change | 24.70% |
| 1 Year Change | 56.60% |
| 3 Year Change | 121.21% |
| 5 Year Change | 129.23% |
| Change since IPO | 65.04% |
Recent News & Updates
Narrative Update • Apr 27
WSR: Takeover Deal And Proxy Disputes Will Shape Future Fair Value Outcome
Whitestone REIT's fair value estimate has been adjusted from $18 to $19.00 as analysts factor in recent price target moves, a higher assumed future P/E, and the mixed signal from both upgrades tied to potential takeover interest and a wave of subsequent downgrades citing limited upside around the $15.20 cash offer and proxy overhang. Analyst Commentary Recent research on Whitestone REIT has shifted quickly from optimism around potential takeover scenarios to caution regarding how much upside remains relative to the current cash bid and ongoing proxy issues.Narrative Update • Apr 11
WSR: Takeover Deal And Proxy Disputes Will Shape Fair Outcome
Narrative Update The analyst price target for Whitestone REIT has been revised from $17.25 to $18.00. Analysts attribute this change to updated fair value work that incorporates recent takeover interest and prior Street target moves, while also acknowledging a series of more cautious rating changes across the sector.Recent updates
Narrative Update • Apr 27
WSR: Takeover Deal And Proxy Disputes Will Shape Future Fair Value Outcome
Whitestone REIT's fair value estimate has been adjusted from $18 to $19.00 as analysts factor in recent price target moves, a higher assumed future P/E, and the mixed signal from both upgrades tied to potential takeover interest and a wave of subsequent downgrades citing limited upside around the $15.20 cash offer and proxy overhang. Analyst Commentary Recent research on Whitestone REIT has shifted quickly from optimism around potential takeover scenarios to caution regarding how much upside remains relative to the current cash bid and ongoing proxy issues.Narrative Update • Apr 11
WSR: Takeover Deal And Proxy Disputes Will Shape Fair Outcome
Narrative Update The analyst price target for Whitestone REIT has been revised from $17.25 to $18.00. Analysts attribute this change to updated fair value work that incorporates recent takeover interest and prior Street target moves, while also acknowledging a series of more cautious rating changes across the sector.Seeking Alpha • Apr 07
Whitestone REIT: Acquisition Buzz Keeps It Elevated While Risks Are Rising (Downgrade)
Summary Whitestone REIT (WSR) is downgraded to Hold as shares trade above intrinsic value amid rising macro risks thanks to Blackstone's acquisition offer. WSR delivered solid Core FFO growth, with 2026 guidance implying a 6.67% YoY increase and continued portfolio strength in Sun Belt markets. Acquisition offers from Blackstone/TPG and MCB highlight strategic interest in their shopping centers, but rejection could trigger downside as arbitrage demand would flee. Geopolitical risks, inflationary pressures, and relatively low dividend yield make the risk-reward unattractive at current levels. Read the full article on Seeking AlphaNarrative Update • Mar 28
WSR: Takeover Bids And Proxy Fights Will Shape Fair Outlook
Whitestone REIT's analyst price target is updated to $17.25, with analysts pointing to higher published targets from several firms and heightened takeover interest as key factors supporting this revision. Analyst Commentary Bullish Takeaways Bullish analysts are anchoring their targets in the US$17 to US$18 range, which is above the US$15.20 cash takeover offer.Narrative Update • Mar 14
WSR: Takeover Interest And Proxy Fights Will Shape Fair Outlook
The analyst fair value estimate for Whitestone REIT has been raised from $15.78 to $17.25. This reflects higher Street price targets around $17 to $18 and analysts' updated assumptions following recent takeover interest and revised revenue and expense forecasts.Narrative Update • Feb 28
WSR: Fair Outlook Will Hinge On Activist Pressure And Buyback Execution
Analysts have raised their Whitestone REIT price target by about $0.85 to reflect updated views on fair value, discount rate, revenue growth, profit margins, and a lower future P/E, supported by recent positive coverage and target increases from Wall Street. Analyst Commentary Bullish Takeaways Bullish analysts highlight the recent initiation with a positive view as support for the updated fair value framework, suggesting that the current price target move is aligned with where they see the shares trading on a normalized P/E.Seeking Alpha • Apr 16
Whitestone REIT: Undervalued Gem With Double-Digit Rent Spreads
Summary Whitestone REIT focuses on high-growth Sunbelt markets and small shops, offering high margins, pricing power, and robust lease spreads. WSR has demonstrated strong fundamentals, including double-digit FFO/share growth, consistent occupancy, and proactive leasing, driving impressive lease spreads and NOI growth. Redevelopment initiatives provide upside potential, while WSR's improving balance sheet and well-covered monthly dividend enhance its attractiveness. With a guided long-term FFO/share growth of 5-7%, WSR is positioned for strong total returns, making it a compelling opportunity for value and growth investors. Read the full article on Seeking AlphaSeeking Alpha • Jan 30
Whitestone REIT: Sunbelt Powerhouse Poised For Potential Market-Beating Returns
Summary Whitestone REIT owns high-quality open-air retail centers in fast-growing Sunbelt markets, achieving strong leasing spreads and consistent NOI growth. WSR's remerchandising and asset recycling initiatives are enhancing portfolio quality, driving robust Core FFO/share growth, and improving financial flexibility. The improved balance sheet, with a declining leverage ratio and well-covered 4% dividend yield, supports further deleveraging and growth. Read the full article on Seeking AlphaSeeking Alpha • Dec 23
Whitestone REIT: Retail Has Finally Right Sized
Summary Whitestone REIT's COO Christine Mastandrea emphasizes the resilience of retail, focusing on smaller format centers that prioritize services and convenience. Geographic trends show a demographic shift towards Southern states, with Whitestone strategically investing in Texas and Arizona due to pro-growth policies and university expansions. Key metrics for Whitestone include sales per square foot, customer stickiness, and net operating income, ensuring profitable growth and value for shareholders. Read the full article on Seeking AlphaSeeking Alpha • Nov 15
Whitestone REIT: Weighing Potential Amid Risks
Summary Whitestone REIT has delivered over 35% total returns since November 2023, with a current forward yield of 3.44% and a low P/FFO multiple of 14.62x. Looking at WSR stock, I can see a compelling entry point in terms of the valuations relative to other peers such as KIM, REG and FRT. However, diving deeper a bit more, I will also identify some reasons why the discount could be justified. I recommend holding WSR for diversification, given the sector's recent rally. Read the full article on Seeking AlphaSeeking Alpha • Oct 11
Whitestone Buyout Offer Undervalues Its Assets
Summary MCB Real Estate's $15 per share buyout offer for Whitestone REIT is too low, with WSR's fair value estimated closer to $17 per share. The hostile takeover attempt by MCB could spark competing bids from other REITs or private equity, given improved market conditions and lower interest rates. Whitestone REIT's standalone prospects are favorable, with strong leasing, rising occupancy, and healthy NOI growth, making a buyout less necessary. Investing in WSR now offers potential upside from either a higher bid or continued growth, despite typical shopping center risks and slightly higher leverage. Read the full article on Seeking Alpha
New Narrative • Sep 24
Revitalizing Real Estate Through Critical Leasing And Re-merchandising Spurs Earnings Surge
Strong leasing spreads and improvement in same-store NOI highlight robust demand, operational efficiency, and potential for revenue and profit margin growth.Seeking Alpha • Sep 09
Whitestone: Growth At A Great Price
Summary Whitestone REIT owns and operates a diversified portfolio of retail properties in major metropolitan areas. The REIT's favorable market dynamics support its positive outlook and potential for growth. WSR's recent performance has been very good, with meaningful projected NOI and core FFO increases for 2024. Most importantly, the shares are trading at a discount to NAV, and this is one of the cheapest retail REITs on an FFO-multiple basis. Read the full article on Seeking AlphaSeeking Alpha • Aug 30
Whitestone REIT: Southwest's Growing Pains Will Be Retail Landlords' Growing Gains
Summary Monitoring demographic trends reveals strong housing demand in the sunbelt, creating opportunities for retail real estate investment. Whitestone REIT is highlighted for its significant exposure to high-growth markets in Texas and Arizona, making it a compelling investment. Whitestone is undervalued compared to peers, with potential for mergers and acquisitions boosting its attractiveness. Lower interest rates could further enhance REIT valuations, making Whitestone a prime acquisition target in thriving markets. Read the full article on Seeking AlphaSeeking Alpha • Aug 02
Whitestone REIT: Taking Profits Home And Downgrading To Hold
Summary Since November last year, when I issued a bullish article on WSR, the stock has surged higher, benefiting from favorable court ruling and solid financial performance. Despite strong same store NOI growth and occupancy rates, WSR's leasing spreads and occupancy levels have been declining. WSR continues to also carry a high leverage, which limits its M&A options and its overall growth potential. On top of this, WSR's multiple has now bounced back to the pre-pandemic level, when the interest rate dynamics were entirely different. As a result of this, I am downgrading WSR from buy to hold. Read the full article on Seeking AlphaSeeking Alpha • Jul 08
Whitestone REIT: Monthly-Paying Growth REIT With A 3.7% Yield
Summary Whitestone REIT offers long-term growth prospects with positive leasing spreads and potential for organic growth and acquisitions. The trust has a low payout ratio, growing dividend, and attractive valuation, making it a compelling investment for passive income investors. Whitestone REIT's concentrated portfolio in strong markets like Texas and Arizona, along with favorable market dynamics, indicates potential for sustained rental growth and outperformance. Read the full article on Seeking AlphaShareholder Returns
| WSR | US Retail REITs | US Market | |
|---|---|---|---|
| 7D | -0.05% | 1.8% | -0.3% |
| 1Y | 56.6% | 19.3% | 26.7% |
Return vs Industry: WSR exceeded the US Retail REITs industry which returned 19.3% over the past year.
Return vs Market: WSR exceeded the US Market which returned 26.7% over the past year.
Price Volatility
| WSR volatility | |
|---|---|
| WSR Average Weekly Movement | 4.1% |
| Retail REITs Industry Average Movement | 2.5% |
| Market Average Movement | 7.2% |
| 10% most volatile stocks in US Market | 16.2% |
| 10% least volatile stocks in US Market | 3.2% |
Stable Share Price: WSR has not had significant price volatility in the past 3 months compared to the US market.
Volatility Over Time: WSR's weekly volatility (4%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1998 | 70 | Dave Holeman | www.whitestonereit.com |
Whitestone REIT is a community-centered real estate investment trust (REIT) that acquires, owns, operates, and develops open-air, retail centers located in some of the fastest growing markets in the country: Phoenix, Austin, Dallas-Fort Worth, Houston and San Antonio. Our 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 Company believes its strong community connections and deep tenant relationships are key to the success of its current centers and its acquisition strategy.
Whitestone REIT Fundamentals Summary
| WSR fundamental statistics | |
|---|---|
| Market cap | US$987.49m |
| Earnings (TTM) | US$50.37m |
| Revenue (TTM) | US$164.24m |
19.4x
P/E Ratio5.9x
P/S RatioIs WSR overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| WSR income statement (TTM) | |
|---|---|
| Revenue | US$164.24m |
| Cost of Revenue | US$51.36m |
| Gross Profit | US$112.88m |
| Other Expenses | US$62.52m |
| Earnings | US$50.37m |
Last Reported Earnings
Mar 31, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | 0.98 |
| Gross Margin | 68.73% |
| Net Profit Margin | 30.67% |
| Debt/Equity Ratio | 139.5% |
How did WSR perform over the long term?
See historical performance and comparisonDividends
3.0%
Current Dividend Yield50%
Payout RatioDoes WSR pay a reliable dividends?
See WSR dividend history and benchmarks| Whitestone REIT dividend dates | |
|---|---|
| Ex Dividend Date | Jun 17 2026 |
| Dividend Pay Date | Jun 29 2026 |
| Days until Ex dividend | 26 days |
| Days until Dividend pay date | 38 days |
Does WSR pay a reliable dividends?
See WSR dividend history and benchmarksCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/21 21:49 |
| End of Day Share Price | 2026/05/21 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
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.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Whitestone REIT is covered by 14 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Gaurav Mehta | Alliance Global Partners |
| Richard Milligan | Baird |
| Paul Adornato | BMO Capital Markets Equity Research |