Whitestone REIT
Whitestone REIT (NYSE: WSR) 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 a… Read more
Whitestone REIT (WSR) - Net Assets
Latest net assets as of September 2025: $439.49 Million USD
Based on the latest financial reports, Whitestone REIT (WSR) has net assets worth $439.49 Million USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($1.15 Billion) and total liabilities ($706.86 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $439.49 Million |
| % of Total Assets | 38.34% |
| Annual Growth Rate | 8.02% |
| 5-Year Change | 31.19% |
| 10-Year Change | 79.7% |
| Growth Volatility | 16.81 |
Whitestone REIT - Net Assets Trend (2002–2024)
This chart illustrates how Whitestone REIT's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Whitestone REIT (2002–2024)
The table below shows the annual net assets of Whitestone REIT from 2002 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $443.83 Million | +5.77% |
| 2023-12-31 | $419.62 Million | -1.14% |
| 2022-12-31 | $424.45 Million | +6.37% |
| 2021-12-31 | $399.04 Million | +17.94% |
| 2020-12-31 | $338.33 Million | -4.18% |
| 2019-12-31 | $353.10 Million | -1.69% |
| 2018-12-31 | $359.15 Million | +0.23% |
| 2017-12-31 | $358.32 Million | +33.88% |
| 2016-12-31 | $267.64 Million | +8.36% |
| 2015-12-31 | $246.99 Million | +15.78% |
| 2014-12-31 | $213.32 Million | -3.44% |
| 2013-12-31 | $220.91 Million | +27.78% |
| 2012-12-31 | $172.89 Million | +32.27% |
| 2011-12-31 | $130.71 Million | +55.08% |
| 2010-12-31 | $84.28 Million | +26.06% |
| 2009-12-31 | $66.86 Million | -0.47% |
| 2008-12-31 | $67.17 Million | -16.95% |
| 2007-12-31 | $80.88 Million | -10.75% |
| 2006-12-31 | $90.62 Million | +2.98% |
| 2005-12-31 | $88.00 Million | +15.31% |
| 2004-12-31 | $76.32 Million | -3.25% |
| 2003-12-31 | $78.88 Million | -3.03% |
| 2002-12-31 | $81.35 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Whitestone REIT's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 20277175600.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $51.00K | 0.01% |
| Other Comprehensive Income | $5.71 Million | 1.30% |
| Other Components | $637.95 Million | 145.60% |
| Total Equity | $438.15 Million | 100.00% |
Whitestone REIT Competitors by Market Cap
The table below lists competitors of Whitestone REIT ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Standard Motor Products Inc
NYSE:SMP
|
$728.72 Million |
|
GUANGDONG HUICHENG
SHE:301392
|
$728.96 Million |
|
Vitec Software Group AB (publ)
ST:VIT-B
|
$729.21 Million |
|
Ratos AB ser. B
LSE:0KBQ
|
$729.40 Million |
|
PETERSHILL PARTNERS -01
F:9X7
|
$728.62 Million |
|
Beijing Lier High Temperature Materials Co Ltd
SHE:002392
|
$728.01 Million |
|
Ãlker Bisküvi Sanayi A.S.
F:A7G
|
$727.78 Million |
|
Nsfocus Information Technology Co Ltd
SHE:300369
|
$727.69 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Whitestone REIT's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 413,742,000 to 438,153,000, a change of 24,411,000 (5.9%).
- Net income of 36,893,000 contributed positively to equity growth.
- Dividend payments of 24,572,000 reduced retained earnings.
- Share repurchases of 2,641,000 reduced equity.
- New share issuances of 7,620,000 increased equity.
- Other comprehensive income increased equity by 3,137,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $36.89 Million | +8.42% |
| Dividends Paid | $24.57 Million | -5.61% |
| Share Repurchases | $2.64 Million | -0.6% |
| Share Issuances | $7.62 Million | +1.74% |
| Other Comprehensive Income | $3.14 Million | +0.72% |
| Other Changes | $3.97 Million | +0.91% |
| Total Change | $- | 5.90% |
Book Value vs Market Value Analysis
This analysis compares Whitestone REIT's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.92x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has increased from 1.26x to 1.92x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2002-12-31 | $12.95 | $16.35 | x |
| 2003-12-31 | $12.52 | $16.35 | x |
| 2004-12-31 | $12.07 | $16.35 | x |
| 2005-12-31 | $16.28 | $16.35 | x |
| 2006-12-31 | $17.85 | $16.35 | x |
| 2007-12-31 | $9.29 | $16.35 | x |
| 2008-12-31 | $8.07 | $16.35 | x |
| 2009-12-31 | $7.79 | $16.35 | x |
| 2010-12-31 | $11.21 | $16.35 | x |
| 2011-12-31 | $12.82 | $16.35 | x |
| 2012-12-31 | $12.20 | $16.35 | x |
| 2013-12-31 | $11.81 | $16.35 | x |
| 2014-12-31 | $9.22 | $16.35 | x |
| 2015-12-31 | $9.46 | $16.35 | x |
| 2016-12-31 | $9.01 | $16.35 | x |
| 2017-12-31 | $9.59 | $16.35 | x |
| 2018-12-31 | $8.63 | $16.35 | x |
| 2019-12-31 | $8.33 | $16.35 | x |
| 2020-12-31 | $7.72 | $16.35 | x |
| 2021-12-31 | $8.48 | $16.35 | x |
| 2022-12-31 | $8.38 | $16.35 | x |
| 2023-12-31 | $8.14 | $16.35 | x |
| 2024-12-31 | $8.53 | $16.35 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Whitestone REIT utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 8.42%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 23.72%
- • Asset Turnover: 0.14x
- • Equity Multiplier: 2.59x
- Recent ROE (8.42%) is above the historical average (4.10%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | 8.67% | 17.85% | 0.16x | 2.97x | $-569.77K |
| 2003 | 8.41% | 16.57% | 0.16x | 3.24x | $-657.42K |
| 2004 | 8.60% | 14.58% | 0.16x | 3.58x | $-559.28K |
| 2005 | 4.56% | 9.71% | 0.15x | 3.19x | $-2.92 Million |
| 2006 | 3.02% | 5.97% | 0.18x | 2.84x | $-4.11 Million |
| 2007 | -0.15% | -0.25% | 0.18x | 3.31x | $-5.36 Million |
| 2008 | 2.47% | 3.63% | 0.18x | 3.88x | $-3.46 Million |
| 2009 | 3.08% | 4.11% | 0.18x | 4.18x | $-3.02 Million |
| 2010 | 1.76% | 3.50% | 0.16x | 3.13x | $-5.17 Million |
| 2011 | 0.97% | 3.22% | 0.13x | 2.36x | $-10.47 Million |
| 2012 | 0.03% | 0.11% | 0.12x | 2.32x | $-16.55 Million |
| 2013 | 1.76% | 6.11% | 0.12x | 2.35x | $-17.79 Million |
| 2014 | 3.61% | 10.48% | 0.11x | 3.02x | $-13.42 Million |
| 2015 | 2.78% | 7.22% | 0.12x | 3.23x | $-17.55 Million |
| 2016 | 3.10% | 7.59% | 0.12x | 3.34x | $-17.64 Million |
| 2017 | 2.40% | 6.62% | 0.12x | 3.08x | $-26.43 Million |
| 2018 | 6.12% | 17.88% | 0.12x | 2.94x | $-13.61 Million |
| 2019 | 6.86% | 19.65% | 0.11x | 3.06x | $-10.85 Million |
| 2020 | 1.82% | 4.88% | 0.12x | 3.15x | $-27.17 Million |
| 2021 | 3.07% | 9.62% | 0.11x | 2.81x | $-27.23 Million |
| 2022 | 8.43% | 25.09% | 0.13x | 2.64x | $-6.57 Million |
| 2023 | 4.64% | 12.97% | 0.13x | 2.69x | $-22.19 Million |
| 2024 | 8.42% | 23.72% | 0.14x | 2.59x | $-6.92 Million |
Industry Comparison
This section compares Whitestone REIT's net assets metrics with peer companies in the REIT - Retail industry.
Industry Context
- Industry: REIT - Retail
- Average net assets among peers: $22,290,709,645
- Average return on equity (ROE) among peers: 5.00%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Whitestone REIT (WSR) | $439.49 Million | 8.67% | 1.61x | $728.67 Million |
| Agree Realty Corporation (ADC) | $685.51 Million | 6.58% | 0.62x | $9.30 Billion |
| AEORF (AEORF) | $210.91 Billion | 5.61% | 0.83x | $1.34 Billion |
| Acadia Realty Trust (AKR) | $2.63 Billion | 0.64% | 0.84x | $2.62 Billion |
| Alexander & Baldwin Holdings Inc (ALEX) | $1.08 Billion | 4.06% | 1.19x | $1.50 Billion |
| Alexanders Inc (ALX) | $203.23 Million | 20.64% | 5.91x | $519.59 Million |
| Saul Centers Inc (BFS) | $443.36 Million | 11.67% | 2.65x | $450.59 Million |
| Brixmor Property (BRX) | $2.85 Billion | 10.70% | 1.92x | $8.61 Billion |
| CBL & Associates Properties Inc (CBL) | $419.89 Million | 0.00% | 3.40x | $690.40 Million |
| Capital & Counties Properties PLC (CCPPF) | $1.56 Billion | -13.56% | 0.51x | $1.88 Billion |
| CapitaLand China Trust (CLDHF) | $2.12 Billion | 3.62% | 0.95x | $745.61 Million |