EX-12.1 2 exhibit121computationofrat.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1

Whitestone REIT
Calculation of Consolidated Ratio of Earnings to Fixed Charges
(dollars in thousands)

 
 
Six Months Ended June 30,
 
Year Ended December 31,
 
 
2018
 
2017
 
2016
 
2015
 
2014
Earnings
 
 
 
 
 
 
 
 
 
 
Income from continuing operations
 
4,867

 
$
8,866

 
$
8,128

 
$
6,854

 
$
5,349

Plus: Taxes
 
213

 
386

 
289

 
372

 
282

Plus: Fixed charges
 
13,937

 
24,530

 
20,189

 
15,122

 
10,672

   Total earnings
 
$
19,017

 
$
33,782

 
$
28,606

 
$
22,348

 
$
16,303

 
 
 
 
 
 
 
 
 
 
 
Fixed charges
 
 
 
 
 
 
 
 
 
 
Interest expense
 
12,993

 
$
22,808

 
$
18,311

 
$
13,804

 
$
9,680

Plus: Capitalized Interest
 
291

 
439

 
324

 
106

 
93

Plus: Amortization of deferred financing costs
 
653

 
1,283

 
1,554

 
1,212

 
899

   Total fixed charges
 
$
13,937

 
$
24,530

 
$
20,189

 
$
15,122

 
$
10,672

 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
1.36

 
1.38

 
1.42

 
1.48

 
1.53