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Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Rental(1) $ 38,107 $ 36,667 $ 112,328 $ 108,405
Management, transaction, and other fees 526 467 1,116 1,040
Total revenues 38,633 37,134 113,444 109,445
Depreciation and amortization 8,921 8,332 26,242 24,538
Operating and maintenance 7,303 6,862 20,667 19,847
Real estate taxes 4,838 4,693 12,988 14,168
General and administrative 4,878 5,392 17,610 15,651
Total operating expenses 25,940 25,279 77,507 74,204
Other expenses (income)        
Interest Expense, Nonoperating 8,506 8,400 25,813 24,563
Gain on sale of properties (3,762) (5) (10,212) (9,626)
Loss on disposal of assets 111 480 183 500
Interest, dividend and other investment income (3) (11) (15) (49)
Total other expenses 4,852 8,864 15,769 15,388
Income before equity investment in real estate partnership and income tax 7,841 2,991 20,168 19,853
Deficit in earnings of real estate partnership 0 (375) (28) (1,627)
Provision for income tax (118) (95) (327) (339)
Net income 7,723 2,521 19,813 17,887
Less: Net income attributable to noncontrolling interests 99 35 257 248
Net income attributable to Whitestone REIT $ 7,624 $ 2,486 $ 19,556 $ 17,639
Basic Earnings Per Share:        
Net income attributable to common shareholders, excluding amounts attributable to unvested restricted shares (in dollars per share) $ 0.15 $ 0.05 $ 0.39 $ 0.36
Diluted Earnings Per Share:        
Net income attributable to common shareholders, excluding amounts attributable to unvested restricted shares (in dollars per share) $ 0.15 $ 0.05 $ 0.38 $ 0.35
Weighted average number of common shares outstanding:        
Basic (in shares) 50,297 49,534 50,067 49,472
Diluted (in shares) 51,305 50,637 51,106 50,399
Consolidated Statements of Comprehensive Income (Loss)        
Net income $ 7,723 $ 2,521 $ 19,813 $ 17,887
Other comprehensive income (loss)        
Amount Recognized as Comprehensive income (8,946) 4,094 (3,296) 6,602
Comprehensive income (loss) (1,223) 6,615 16,517 24,489
Less: Net income attributable to noncontrolling interests 99 35 257 248
Less: Comprehensive income (loss) attributable to noncontrolling interests (115) 56 (41) 91
Comprehensive income (loss) attributable to Whitestone REIT (1,207) 6,524 16,301 24,150
Rental revenues 27,114 26,521 81,350 78,780
Recoveries 11,338 10,535 32,009 30,571
Bad debt (345) (389) (1,031) (946)
Total rental $ 38,107 $ 36,667 $ 112,328 $ 108,405