Whitestone REIT Net Assets
Whitestone REIT net assets. Based on the latest financial reports, Whitestone REIT (WSR) has net assets worth $469.67 Million USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($1.17 Billion) and total liabilities ($698.32 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. Also explore how fast is Whitestone REIT growing its equity to track the company's year-over-year net asset growth rate.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $469.67 Million |
| % of Total Assets | 40.21% |
| Annual Growth Rate | 7.86% |
| 5-Year Change | 16.24% |
| 10-Year Change | 73.31% |
| Growth Volatility | 16.47 |
Net Assets of Whitestone REIT (2002–2025)
Net assets of Whitestone REIT from 2002 to 2025. This chart illustrates how Whitestone REIT's net assets have evolved over time, based on quarterly financial data. See Whitestone REIT (WSR) net asset quality to measure how much of total assets are equity-financed.
Annual Net Assets for Whitestone REIT (2002–2025)
The table below shows the annual net assets of Whitestone REIT from 2002 to 2025. For live market cap and overall valuation, see market cap of Whitestone REIT.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $463.86 Million | +4.51% |
| 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 18080075600.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Whitestone REIT Net Assets Breakdown (December 2025)
Whitestone REIT net assets breakdown by equity component as of December 2025.
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $51.00K | 0.01% |
| Other Comprehensive Income | $391.00K | 0.09% |
| Other Components | $641.23 Million | 139.98% |
| Total Equity | $458.09 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 |
|---|---|
|
Biotest Aktiengesellschaft
XETRA:BIO
|
$976.15 Million |
|
Jubilant Ingrevia Limited
NSE:JUBLINGREA
|
$976.31 Million |
|
Controladora Vuela Compañía de Aviación S.A.B. de C.V
MX:VOLARA
|
$976.45 Million |
|
Chang Wah Electromaterials Inc
TW:8070
|
$976.56 Million |
|
Brookline Bancorp Inc
NASDAQ:BRKL
|
$975.70 Million |
|
Aavas Financiers Limited
NSE:AAVAS
|
$975.64 Million |
|
Harbin Gloria Pharmaceuticals
SHE:002437
|
$975.64 Million |
|
Elders Ltd
AU:ELD
|
$975.41 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 2024 to 2025, total equity changed from 438,153,000 to 458,090,000, a change of 19,937,000 (4.6%).
- Net income of 49,926,000 contributed positively to equity growth.
- Dividend payments of 27,406,000 reduced retained earnings.
- Share repurchases of 2,268,000 reduced equity.
- Other comprehensive income decreased equity by 5,322,000.
- Other factors increased equity by 5,007,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $49.93 Million | +10.9% |
| Dividends Paid | $27.41 Million | -5.98% |
| Share Repurchases | $2.27 Million | -0.5% |
| Other Comprehensive Income | $-5.32 Million | -1.16% |
| Other Changes | $5.01 Million | +1.09% |
| Total Change | $- | 4.55% |
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: 2.15x
- 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 1.47x to 2.15x 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 | $18.99 | x |
| 2003-12-31 | $12.52 | $18.99 | x |
| 2004-12-31 | $12.07 | $18.99 | x |
| 2005-12-31 | $16.28 | $18.99 | x |
| 2006-12-31 | $17.85 | $18.99 | x |
| 2007-12-31 | $9.29 | $18.99 | x |
| 2008-12-31 | $8.07 | $18.99 | x |
| 2009-12-31 | $7.79 | $18.99 | x |
| 2010-12-31 | $11.21 | $18.99 | x |
| 2011-12-31 | $14.46 | $18.99 | x |
| 2012-12-31 | $12.20 | $18.99 | x |
| 2013-12-31 | $11.81 | $18.99 | x |
| 2014-12-31 | $9.36 | $18.99 | x |
| 2015-12-31 | $9.62 | $18.99 | x |
| 2016-12-31 | $9.43 | $18.99 | x |
| 2017-12-31 | $9.88 | $18.99 | x |
| 2018-12-31 | $8.84 | $18.99 | x |
| 2019-12-31 | $8.52 | $18.99 | x |
| 2020-12-31 | $7.87 | $18.99 | x |
| 2021-12-31 | $8.61 | $18.99 | x |
| 2022-12-31 | $8.50 | $18.99 | x |
| 2023-12-31 | $8.14 | $18.99 | x |
| 2024-12-31 | $8.53 | $18.99 | x |
| 2025-12-31 | $8.83 | $18.99 | 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): 10.90%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 31.04%
- • Asset Turnover: 0.14x
- • Equity Multiplier: 2.56x
- Recent ROE (10.90%) is above the historical average (4.35%), 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 | 0.86% | 3.22% | 0.13x | 2.09x | $-11.95 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 | 3.56% | 10.48% | 0.11x | 2.97x | $-13.75 Million |
| 2015 | 2.73% | 7.22% | 0.12x | 3.17x | $-17.95 Million |
| 2016 | 2.96% | 7.59% | 0.12x | 3.20x | $-18.83 Million |
| 2017 | 2.33% | 6.62% | 0.12x | 2.99x | $-27.50 Million |
| 2018 | 5.97% | 17.88% | 0.12x | 2.86x | $-14.48 Million |
| 2019 | 6.71% | 19.65% | 0.11x | 2.99x | $-11.63 Million |
| 2020 | 1.78% | 4.88% | 0.12x | 3.09x | $-27.80 Million |
| 2021 | 3.02% | 9.62% | 0.11x | 2.76x | $-27.86 Million |
| 2022 | 8.31% | 25.09% | 0.13x | 2.60x | $-7.18 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 |
| 2025 | 10.90% | 31.04% | 0.14x | 2.56x | $4.12 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: $728,091,300
- Average return on equity (ROE) among peers: 45.88%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Whitestone REIT (WSR) | $469.67 Million | 8.67% | 1.49x | $975.97 Million |
| Agree Realty Corporation (ADC) | $356.04 Million | 5.19% | 0.67x | $8.39 Billion |
| Acadia Realty Trust (AKR) | $1.52 Billion | 4.32% | 0.99x | $2.72 Billion |
| Alexander & Baldwin Holdings Inc (ALEX) | $1.10 Billion | 0.51% | 0.86x | $1.52 Billion |
| Alexanders Inc (ALX) | $6.20 Million | 398.39% | 33.13x | $1.26 Billion |
| Saul Centers Inc (BFS) | $239.81 Million | 15.33% | 3.23x | $700.25 Million |
| Brixmor Property (BRX) | $2.28 Billion | -5.38% | 3.22x | $8.31 Billion |
| CBL & Associates Properties Inc (CBL) | $270.90 Million | 0.00% | 1.59x | $993.50 Million |
| Curbline Properties Corp. (CURB) | $862.64 Million | 3.60% | 0.07x | $3.38 Billion |
| Essential Properties Realty Trust Inc (EPRT) | $181.40 Million | 3.47% | 4.19x | $6.05 Billion |
| Four Corners Property Trust Inc (FCPT) | $470.12 Million | 33.36% | 0.99x | $2.57 Billion |
About Whitestone REIT
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. The firm's centers are convenience focused on merchandised with a mix of service-oriented tenants providing food (restaurants and … Read more