Whitestone reit (WSR)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Revenues
Rental

30,196

29,487

29,368

29,126

29,033

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Rental

-

-

-

29,126

-

29,253

30,085

28,827

29,299

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Management, transaction, and other fees

388

613

511

452

661

648

619

646

486

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other revenues

-

-

-

-

-

-

-

-

-

-

8,762

7,198

6,971

-

5,664

5,480

6,013

6,178

5,814

4,794

4,787

4,377

4,132

3,819

3,761

3,647

3,697

2,983

2,868

3,008

2,626

2,464

2,298

2,616

1,705

1,365

1,415

1,410

1,397

Total revenues

30,584

30,100

29,879

29,578

29,694

29,901

30,704

29,473

29,785

33,831

33,653

30,208

28,267

28,365

25,508

25,129

25,435

25,595

24,599

21,970

21,252

19,206

18,539

17,262

17,375

15,537

16,291

14,795

13,869

11,963

11,618

10,987

10,426

9,968

8,791

8,070

8,086

7,856

7,766

Operating expenses
Operating expenses
Depreciation and amortization

6,971

6,875

6,789

6,612

6,464

6,635

6,477

6,293

6,274

7,304

7,247

6,681

6,008

6,095

5,449

5,521

5,392

5,373

5,149

4,675

4,564

4,138

3,924

3,834

3,829

3,317

3,450

3,260

3,073

2,633

2,683

2,290

2,283

1,623

2,161

1,976

1,989

1,816

1,745

Operating and maintenance

5,597

5,851

5,118

5,214

4,428

5,744

5,452

5,017

4,856

7,240

6,104

5,375

5,494

5,328

4,904

4,683

4,794

5,453

4,823

4,339

4,083

3,868

4,000

4,013

3,524

3,521

4,145

3,348

3,065

2,547

2,969

2,759

2,352

2,331

2,376

1,998

1,954

2,090

2,106

Real estate taxes

4,536

3,819

4,410

4,019

4,045

4,102

4,379

3,905

3,976

4,309

5,181

4,487

3,920

4,311

3,414

3,304

3,354

3,334

3,474

2,925

2,904

2,674

2,591

2,205

2,277

2,116

2,673

2,012

1,798

1,773

1,629

1,503

1,310

1,278

1,262

1,108

1,020

948

889

General and administrative

5,100

5,147

5,597

4,915

6,002

5,294

4,982

6,678

6,327

6,351

5,581

5,848

6,169

7,455

6,218

5,413

4,836

5,142

5,687

4,998

4,485

4,523

4,212

3,582

2,957

3,230

2,722

2,516

2,444

2,224

1,888

1,863

1,641

1,911

1,495

1,778

1,464

1,263

1,272

Total operating expenses

22,204

21,692

21,914

20,760

20,939

21,775

21,290

21,893

21,433

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total property expenses

-

-

-

-

-

-

-

-

-

-

11,285

9,862

9,414

-

8,318

7,987

8,148

8,787

8,297

7,264

6,987

6,542

6,591

6,218

5,801

5,637

6,818

5,360

4,863

4,320

4,598

4,262

3,662

3,609

3,638

3,106

2,974

3,038

2,995

Other expenses (income)
Interest expense

6,693

6,547

6,679

6,526

6,533

6,472

6,419

6,313

5,973

6,493

6,376

5,629

5,153

5,018

4,669

4,748

4,804

4,246

3,740

3,516

3,408

3,054

2,762

2,434

2,329

2,311

2,602

2,613

2,449

2,229

2,244

2,107

1,973

2,067

1,430

1,445

1,402

1,401

1,402

Gain on sale of properties

46

816

37

0

0

0

4,380

0

249

0

0

16

0

467

0

0

2,890

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

397

-

-

-

-

Loss on sale or disposal of assets

-253

-63

-37

-113

-2

174

-3

-73

-180

-48

-40

-72

-23

-106

26

-18

2

63

-148

5

-105

0

0

-24

-87

-1

0

-40

-8

8

-77

-16

-12

-129

1

0

-18

-72

-8

Interest, dividend and other investment income

62

109

141

164

245

263

251

284

257

29

142

101

138

90

164

78

97

69

73

162

9

19

31

19

21

22

26

69

19

16

121

83

70

81

264

55

60

7

5

Total other expense

6,838

5,685

6,538

6,475

6,290

6,035

1,791

6,102

5,647

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total other expense

-

-

-

-

-

-

-

-

-

-

19,062

18,057

17,192

-

16,172

15,604

14,935

14,692

14,503

13,027

12,448

11,696

10,867

9,831

9,094

8,836

8,748

8,320

7,947

9,247

6,694

6,177

5,827

5,520

4,822

5,144

4,795

4,473

4,414

Income before equity investments in real estate partnerships and income tax

1,542

2,723

1,427

2,343

2,465

2,091

7,623

1,478

2,705

1,996

3,306

2,289

1,661

248

1,018

1,538

2,352

2,116

1,799

1,679

1,817

968

1,081

1,213

2,480

1,064

725

1,115

1,059

-1,604

326

548

937

839

331

-180

317

345

357

Net Income (Loss) from Real Estate Investment Partnership, Attributable to Parent

192

13,596

524

464

492

6,669

502

586

674

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for income tax

87

76

102

104

118

86

92

59

110

90

126

89

81

42

80

11

156

98

100

91

83

74

72

55

81

66

90

72

65

63

77

70

65

60

54

58

53

56

102

Profit sharing expense

-

-

-

-

-

-

-

-

-

-

63

101

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income from continuing operations

-

-

1,849

2,703

-

-

8,033

2,005

-

-

-

-

-

-

-

-

-

2,081

1,551

1,593

1,629

894

1,009

1,134

2,312

-

-

-

-

-

-

-

-

-

-

-

-

217

247

Gain on sale of property from discontinued operations

-

-

0

701

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of property from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

Income from discontinued operations

-

-

0

701

-

-

0

0

-

-

-

-

-

-

-

-

-

8

44

-33

-8

2,019

112

146

120

-

-

-

-

-

-

-

-

-

-

-

-

17

8

Income before gain on sale of property

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

278

-

-

-

-

Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

1,647

16,136

1,849

3,404

2,839

8,674

8,033

2,005

3,269

1,911

3,077

2,043

1,557

552

964

1,509

5,088

2,089

1,595

1,560

1,621

2,913

1,121

1,280

2,432

1,295

635

1,003

986

-1,441

172

462

860

650

675

-238

246

234

255

Redeemable operating partnership units

-

-

-

-

-

-

-

-

-

-

-

-

53

-

15

25

91

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-controlling interests in Consolidated Partnership

-

-

-

-

-

-

-

-

-

-

-

-

64

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Less: Net income attributable to noncontrolling interests

35

361

42

77

65

213

198

51

88

-7

84

60

117

51

15

25

91

38

25

26

27

55

18

27

60

34

21

33

37

-104

9

31

67

94

97

-42

61

57

89

Net income attributable to Whitestone REIT

1,612

15,775

1,807

3,327

2,774

8,461

7,835

1,954

3,181

1,918

2,993

1,983

1,440

501

949

1,484

4,997

2,051

1,570

1,534

1,594

2,858

1,103

1,253

2,372

1,261

614

970

949

-1,337

163

431

793

556

578

-196

185

177

166

Basic Earnings Per Share:
Income from continuing operations attributable to Whitestone REIT, excluding amounts attributable to unvested restricted shares (in dollars per share)

-

-

0.04

0.06

-

-

0.20

0.05

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income from discontinued operations attributable to Whitestone REIT (in dollars per share)

-

-

0.00

0.02

-

-

0.00

0.00

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income from continuing operations attributable to Whitestone REIT excluding amounts attributable to unvested restricted shares (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.07

0.05

0.06

0.07

0.04

0.04

0.05

0.10

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income from discontinued operations attributable to Whitestone REIT (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

0.00

0.00

0.08

0.01

0.00

0.01

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income attributable to common shareholders, excluding amounts attributable to unvested restricted shares

0.04

0.40

0.04

0.08

0.07

0.21

0.20

0.05

0.08

0.05

0.07

0.05

0.05

0.00

0.03

0.05

0.18

0.07

0.05

0.06

0.07

0.12

0.05

0.05

0.11

-

0.04

-

-

-

0.01

-

-

-

-

-

-

-

-

Diluted Earnings Per Share:
Income from continuing operations attributable to Whitestone REIT, excluding amounts attributable to unvested restricted shares (in dollars per share)

-

-

0.04

0.06

-

-

0.19

0.05

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income from discontinued operations attributable to Whitestone REIT (in dollars per share)

-

-

0.00

0.02

-

-

0.00

0.00

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income from continuing operations attributable to Whitestone REIT excluding amounts attributable to unvested restricted shares (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.07

0.05

0.06

0.06

0.03

0.04

0.05

0.10

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income from discontinued operations attributable to Whitestone REIT (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

0.00

0.00

0.08

0.01

0.00

0.01

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income attributable to common shareholders, excluding amounts attributable to unvested restricted shares

0.04

0.38

0.04

0.08

0.07

0.20

0.19

0.05

0.08

0.06

0.07

0.05

0.04

0.00

0.03

0.05

0.18

0.07

0.05

0.06

0.06

0.11

0.05

0.05

0.11

0.05

0.03

0.06

0.06

-0.12

0.01

0.04

0.07

0.06

0.05

-0.02

0.03

-

-

Weighted average number of common shares outstanding:
Income from continuing operations attributable to Whitestone REIT excluding amount attributable to unvested restricted shares

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.04

0.05

Income from discontinued operations attributable to Whitestone REIT

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.04

0.05

Income from continuing operations attributable to Whitestone REIT excluding amount attributable to unvested restricted shares

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.04

0.05

Income from discontinued operations attributable to Whitestone REIT

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.04

0.05

Basic (in shares)

42,048

41,014

40,187

39,886

39,649

39,499

39,327

39,204

39,066

38,588

37,992

35,716

29,416

28,854

28,195

26,819

26,604

26,602

26,476

22,869

22,577

22,572

22,482

22,235

21,823

21,362

17,036

16,891

16,819

16,772

13,842

11,746

11,624

11,316

10,797

8,520

5,479

4,020

3,282

Diluted (in shares)

43,009

42,937

41,446

40,839

40,626

41,046

40,635

40,679

40,088

39,478

38,589

36,544

30,409

29,506

29,024

27,513

27,489

29,023

27,082

23,401

23,226

24,090

22,690

22,443

21,949

21,711

17,331

17,111

16,939

17,099

13,961

11,754

11,638

11,340

10,809

8,520

5,499

4,040

3,300

Distributions declared per common share / OP unit (in dollars per share)

-

-

-

-

-

-

-

-

-

-

0.28

0.28

0.28

0.28

0.28

0.28

0.28

0.28

0.28

0.28

0.28

0.28

0.28

0.28

0.28

0.28

0.28

0.28

0.28

0.28

0.28

0.28

0.28

0.28

0.28

0.28

0.28

-

0.28

Consolidated Statements of Comprehensive Income
Net income

1,647

16,136

1,849

3,404

2,839

8,674

8,033

2,005

3,269

1,911

3,077

2,043

1,557

552

964

1,509

5,088

2,089

1,595

1,560

1,621

2,913

1,121

1,280

2,432

1,295

635

1,003

986

-1,441

172

462

860

650

675

-238

246

234

255

Other comprehensive gain
Unrealized gain (loss) on cash flow hedging activities

-10,952

1,912

-2,235

-6,035

-3,470

-2,971

605

913

2,645

1,898

172

-780

732

7,891

1,529

-2,450

-6,041

506

-184

43

-319

-184

345

-259

-38

11

-331

761

-268

10

-9

0

0

-

0

-

-

-

-

Unrealized gain on available-for-sale marketable securities

-

-

0

0

-

0

0

0

18

92

-7

33

0

62

-11

36

-5

21

-8

-139

41

47

-56

22

83

4

-39

-88

303

29

92

33

766

552

-1,672

-209

0

0

0

Comprehensive income (loss)

-9,305

18,048

-386

-2,631

-631

5,703

8,638

2,918

5,932

3,901

3,242

1,296

2,289

8,505

2,482

-905

-958

2,616

1,403

1,464

1,343

2,776

1,410

1,043

2,477

1,310

265

1,676

1,021

-1,402

255

495

1,626

1,202

-997

-447

246

234

255

Less: Net income attributable to noncontrolling interests

35

361

42

77

65

213

198

51

88

-7

84

60

117

51

15

25

91

38

25

26

27

55

18

27

60

34

21

33

37

-104

9

31

67

94

97

-42

61

57

89

Less: Comprehensive gain (loss) attributable to noncontrolling interests

-231

47

-51

-137

-80

-79

15

23

71

54

5

-22

26

147

26

-42

-108

-70

22

24

23

-110

26

23

61

33

8

57

38

-114

14

30

127

161

-143

-78

61

57

89

Comprehensive income (loss) attributable to Whitestone REIT

-9,109

17,640

-377

-2,571

-616

5,569

8,425

2,844

5,773

3,854

3,153

1,258

2,146

8,308

2,441

-889

-941

2,570

1,381

1,440

1,320

2,726

1,384

1,020

2,416

1,277

257

1,619

983

-1,288

241

465

1,499

1,041

-854

-369

185

177

166

Rental Revenues
Rental revenues

22,077

21,998

21,623

21,378

21,751

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Recoveries

8,963

8,047

8,240

7,907

7,554

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Bad debt

844

558

495

159

272

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating Lease, Lease Income

30,196

-

29,368

-

29,033

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Rental revenues (under Topic 840)
Rental revenues

-

-

-

-

-

21,626

21,964

21,382

21,672

25,371

24,891

23,010

21,296

-

19,844

19,649

19,422

19,417

18,785

17,176

16,465

14,829

14,407

13,443

13,614

11,890

12,594

11,812

11,001

8,955

8,992

8,523

8,128

7,352

7,086

6,705

6,671

6,446

6,369

Recoveries

-

-

-

-

-

7,627

8,121

7,445

7,627

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating Leases, Income Statement, Lease Revenue

-

-

-

29,126

-

29,253

30,085

28,827

29,299

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Bad debt (prior to adoption of Topic 842)

-

-

-

-

-

421

308

216

446

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-