Whitestone REIT (WSR)
Operator of Sun Belt neighborhood shopping centers built around service-tenant, daily-errand traffic.
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Operator of 56 open-air neighborhood shopping centers across Texas and the Phoenix metro, anchored by service tenants — food, fitness, personal care — built to attract daily-errand traffic. Internally managed and Sun Belt-only, the company entered a definitive agreement in April 2026 to be acquired by Ares Management Corporation in a take-private transaction.
Owns 56 open-air neighborhood shopping centers, branded Community-Centered Properties, split across the Texas metros (Houston, Dallas, Austin, San Antonio) and the Scottsdale/Phoenix area — Sun Belt only, with no exposure outside those two states.
Tenants skew toward service businesses — food, personal care, fitness, education, entertainment — chosen for their resistance to online displacement. BLVD Place in Houston, acquired in 2017, is the single largest asset and accounts for roughly one in ten revenue dollars.
Internally managed rather than externally advised. Net debt relative to operating earnings is elevated, a constraint the company has been working to reduce since 2022.
In April 2026 Whitestone REIT entered a definitive merger agreement to be acquired by Ares Management Corporation's real estate funds at a fixed all-cash price per share. Closing is expected in the third quarter of 2026, at which point the company will be delisted from the NYSE.
Company facts
No analyst consensus on record.
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Mar 31, 2026Cash & short-term investments $6.0M · Total debt $655.1M · Total assets $1.17B · Shareholders' equity $463.8M
- Revenue
- $41.9M
- Operating income
- $13.2M
- Net income
- $4.1M
HistoryDividendAnnual yield
51.39M company shares as of Sep 23, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Julia Bruns ButhmanInsiderdirector | 0.00% | 0 | filed Jul 15, 2026 |
Amy Shih-Hua FengInsiderdirector | 0.00% | 0 | filed Jul 15, 2026 |
Kristian M. GathrightInsiderdirector | 0.00% | 0 | filed Jul 15, 2026 |
John Scott HoganInsiderofficer: Chief Financial Officer | 0.00% | 0 | filed Jul 15, 2026 |
David K. HolemanInsiderdirector, officer: Chief Executive Officer | 0.00% | 0 | filed Jul 15, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Whitestone REIT | $18.99 | 0.00% | $976.0M | 19.9 | — | 5.9 | +10.2% |
| Brixmor Property Group | $27.71 | −0.91% | $8.58B | 20.0 | 27.6 | 6.1 | +4.3% |
| Regency Centers | $72.81 | −0.98% | $13.43B | 20.8 | 28.9 | 7.8 | +5.7% |
| Kite Realty Group | $24.76 | −1.32% | $5.03B | 15.5 | 74.7 | 6.2 | −8.5% |
| InvenTrust Properties | $30.38 | −0.91% | $2.39B | 152.8 | — | 7.5 | +13.3% |
| Phillips Edison | $36.74 | −0.96% | $4.76B | 32.3 | 47.5 | 6.3 | +3.8% |
| Curbline Properties | $28.25 | −1.91% | $3.31B | 106.7 | 68.3 | 15.1 | +53.5% |
| Acadia Realty Trust | $19.14 | −1.21% | $2.66B | 56.2 | 60.7 | 6.6 | −7.2% |
| Median | 32.3 | 54.1 | 6.6 | +4.3% |