WSR · As filed with the SEC
Whitestone REIT cash flow statement, by fiscal year
The statement as Whitestone REIT presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.
Consolidated Statements of Cash Flows · USD thousands
| USD thousands | FY2025 Year ended Dec 31, 2025 | FY2024 Year ended Dec 31, 2024 | FY2023 Year ended Dec 31, 2023 | FY2022 Year ended Dec 31, 2022 | FY2021 Year ended Dec 31, 2021 | FY2020 Year ended Dec 31, 2020 | FY2019 Year ended Dec 31, 2019 | FY2018 Year ended Dec 31, 2018 |
|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||
| Net income from continuing operations | — | — | 19,450 | 35,800 | 10,420 | 6,151 | 23,634 | — |
| Net income from discontinued operations | — | — | 0 | 0 | 1,833 | 0 | 594 | — |
| Net income | 50,556 | 37,373 | 19,450 | 35,800 | 12,253 | 6,151 | 24,228 | 21,981 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
| Depreciation and amortization | 35,929 | 34,894 | 32,966 | 31,707 | 28,950 | 28,303 | 26,740 | 25,679 |
| Amortization of deferred loan costs | 1,345 | 1,106 | 1,089 | 1,100 | 1,096 | 1,113 | 1,095 | 1,092 |
| Amortization of notes payable discount | — | — | — | — | — | — | 0 | 0 |
| Loss on sale of marketable securities | — | — | — | — | — | 0 | 0 | 20 |
| Gain on sale of properties | (29,957) | (22,125) | (9,006) | (16,950) | (176) | (1,370) | (638) | (4,547) |
| Gain on partnership redemption | (2,075) | — | — | — | — | — | — | — |
| Loss on disposal of assets, net | 239 | 547 | 522 | 192 | — | — | — | — |
| Bad debt | 877 | 1,228 | 951 | 1,156 | (90) | 5,649 | 1,484 | 1,391 |
| Accretion of debt discount | 38 | — | — | — | — | — | — | — |
| Share-based compensation | 5,319 | 4,579 | 3,727 | 1,511 | 5,913 | 6,063 | 6,483 | 6,741 |
| Equity in earnings of real estate partnership | — | — | — | — | (609) | (921) | (15,076) | (8,431) |
| Deficit in earnings of real estate partnership | 0 | 28 | 3,155 | (239) | — | — | — | — |
| Amortization of right-of-use assets - finance leases | 93 | 87 | 94 | — | — | — | — | — |
| Building improvements received due to lease termination | 0 | (749) | — | — | — | — | — | — |
| Extinguishment of debt cost | 798 | — | — | 0 | — | — | — | — |
| Changes in operating assets and liabilities: | ||||||||
| Escrows and deposits | (1,164) | 6,509 | 2,312 | (1,504) | (2,049) | (885) | (177) | (295) |
| Accrued rents and accounts receivable | (4,346) | (4,415) | (5,973) | (4,331) | 704 | (6,055) | (2,998) | (1,893) |
| Receivable due from related party | 224 | (40) | (136) | (530) | (512) | 142 | (83) | 610 |
| Distributions from real estate partnership | — | — | — | — | — | — | 6,926 | 1,324 |
| Distributions from real estate partnership | — | — | — | 0 | 0 | 1,039 | — | — |
| Unamortized lease commissions, legal fees and loan costs | — | — | — | — | (3,259) | (1,343) | (1,824) | (1,676) |
| Unamortized lease commissions, legal fees and loan costs | (3,634) | (3,536) | (4,592) | (3,386) | — | — | — | — |
| Prepaid expenses and other assets | (1,013) | 2,280 | 2,484 | 1,749 | 1,963 | 2,255 | (4,163) | 1,175 |
| Accounts payable and accrued expenses | (2,771) | (220) | 355 | (2,766) | 2,663 | 2,518 | 5,609 | (2,429) |
| Payable due to related party | (42) | 0 | 16 | 564 | 872 | (182) | 249 | (1,621) |
| Tenants' security deposits | 357 | 681 | 186 | 358 | 1,154 | 299 | 487 | 436 |
| Net cash provided by operating activities | 50,773 | 58,227 | 47,600 | 44,431 | 47,040 | 42,776 | 47,748 | 39,557 |
| Cash flows from investing activities: | ||||||||
| Acquisitions of real estate | (86,156) | (55,751) | (25,474) | (16,992) | (81,588) | 0 | (34,804) | 0 |
| Acquisition of ground lease | — | 0 | 0 | (9,786) | — | — | — | — |
| Additions to real estate | (24,362) | (22,410) | (17,055) | (13,659) | (9,642) | (7,362) | (13,243) | (11,638) |
| Proceeds from sales of properties | 42,234 | 52,004 | 19,847 | 33,723 | — | — | — | — |
| Proceeds from note receivable | — | — | — | 0 | 0 | 922 | — | — |
| Proceeds from sales of properties | — | — | — | — | — | 0 | 0 | 12,574 |
| Proceeds from financed receivable due from related party | — | — | — | — | — | — | — | 9,812 |
| Proceeds from financed receivable due from related party | — | — | — | — | 0 | 0 | 5,661 | — |
| Investment in real estate partnership | — | — | — | — | — | — | 0 | 0 |
| Proceeds from sales of marketable securities | — | — | — | — | — | 0 | 0 | 30 |
| Proceeds from sale of property held in restricted cash (1031 exchange) | 0 | 10,146 | — | — | — | — | — | — |
| Escrowed loan repayment on behalf of real estate partnership | 0 | 0 | (13,633) | — | — | — | — | — |
| Net cash used in investing activities | — | — | (36,315) | (6,714) | — | — | — | — |
| Net cash provided by investing activities of discontinued operations | — | — | 0 | 0 | — | — | — | — |
| Receipt of funds from real estate partnership for loan repayment | 13,633 | — | — | — | — | — | — | — |
| Proceeds from partnership redemption | 33,354 | — | — | — | — | — | — | — |
| Net cash used in investing activities | (21,297) | (16,011) | — | — | (91,230) | (6,440) | (42,386) | 10,778 |
| Net cash provided by investing activities of discontinued operations | — | — | — | — | 1,833 | 0 | (594) | — |
| Cash flows from financing activities: | ||||||||
| Distributions paid to common shareholders | (27,406) | (24,572) | (23,684) | (22,958) | (19,320) | (25,203) | (45,627) | (44,944) |
| Distributions paid to OP unit holders | (348) | (321) | (332) | (346) | (331) | (511) | (1,055) | (1,155) |
| Proceeds from issuance of common shares, net of offering costs | 0 | 7,620 | 0 | 0 | 55,981 | 2,241 | 21,244 | 0 |
| Payments of exchange offer costs | 0 | (81) | 0 | (335) | (63) | (43) | (120) | (126) |
| Net proceeds from credit facility | — | — | — | — | — | — | — | 9,000 |
| Net proceeds from (payment of) revolving credit facility | (73,209) | (21,000) | 42,500 | (16,000) | — | — | — | — |
| Proceeds from notes payable | 0 | 76,340 | — | 0 | 0 | 1,734 | 100,000 | — |
| Net proceeds from (payments of) credit facility | — | — | — | — | 0 | 10,000 | (66,700) | — |
| Repayments of notes payable | (17,572) | (66,016) | (30,945) | (3,468) | (3,261) | (12,164) | (8,095) | (2,543) |
| Payments of loan origination costs | (6,643) | (789) | 0 | (3,632) | 0 | 0 | (2,970) | (30) |
| Repurchase of common shares | (2,268) | (2,641) | (525) | (537) | (691) | (2,077) | (776) | (1,961) |
| Proceeds from borrowings under unsecured term loan | 375,000 | — | — | — | — | — | — | — |
| Repayment of borrowings under unsecured term loan | (285,000) | — | — | — | — | — | — | — |
| Payment of finance lease liability | (40) | (26) | (14) | — | — | — | — | — |
| Net cash used in financing activities | (37,486) | (31,486) | (13,000) | (47,276) | 32,315 | (26,023) | (4,099) | (41,759) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | (8,010) | 10,730 | (1,715) | (9,559) | (10,042) | 10,313 | 1,857 | 8,576 |
| Cash, cash equivalents and restricted cash at beginning of period | — | — | — | 15,914 | 25,956 | 15,643 | 13,786 | 5,210 |
| Cash, cash equivalents and restricted cash at end of period | — | — | — | — | 15,914 | 25,956 | 15,643 | 13,786 |
| Cash, cash equivalents and restricted cash at beginning of period | 15,370 | 4,640 | 6,355 | 15,914 | 25,956 | — | — | — |
| Cash, cash equivalents and restricted cash at end of period (1) | 7,360 | 15,370 | 4,640 | 6,355 | — | — | — | — |
| Supplemental disclosure of cash flow information: | ||||||||
| Cash paid for interest | 33,581 | 33,663 | 31,136 | 26,493 | 23,685 | 24,741 | 25,360 | 24,610 |
| Cash paid for taxes | — | — | — | — | — | — | — | 304 |
| Cash paid for taxes | 457 | 432 | 435 | 366 | 364 | 353 | 396 | — |
| Non cash investing and financing activities: | ||||||||
| Disposal of fully depreciated real estate | — | — | — | — | 297 | 88 | 234 | 937 |
| Financed insurance premiums | — | — | — | — | 1,712 | 1,431 | 1,238 | 1,273 |
| Disposal of fully depreciated real estate | 330 | 58 | 976 | 454 | — | — | — | — |
| Financed insurance premiums | 0 | 2,638 | 3,002 | 1,846 | — | — | — | — |
| Value of shares issued under dividend reinvestment plan | 112 | 36 | 75 | 67 | 60 | 89 | 137 | 133 |
| Value of common shares exchanged for OP units | — | — | — | — | 18 | 1,162 | 186 | 1,546 |
| Change in fair value of available-for-sale securities | — | — | — | — | — | 0 | 0 | 18 |
| Change in fair value of cash flow hedge | — | — | — | — | 7,803 | (9,062) | (9,828) | 1,192 |
| Acquisition of real estate in exchange for OP units | — | — | — | — | — | — | — | 0 |
| Reallocation of ownership percentage between parent and subsidiary | — | — | — | — | — | — | — | 15 |
| Reallocation of ownership percentage between parent and subsidiary | — | — | — | — | (27) | (20) | 0 | — |
| Debt issued with acquisitions of real estate | — | — | — | — | — | — | 0 | 0 |
| Property received as termination fee | — | — | — | — | 0 | 251 | 0 | 250 |
| Conversion of OP Units to Common Stock | 125 | 355 | 17 | 618 | — | — | — | — |
| Change in fair value of cash flow hedge | — | — | (3,452) | 12,925 | — | — | — | — |
| Reallocation of ownership percentage between parent and subsidiary | — | — | 0 | 0 | — | — | — | — |
| Property received as termination fee | — | — | — | 0 | — | — | — | — |
| Change in fair value of cash flow hedge | (5,390) | 3,178 | — | — | — | — | — | — |
| Recognition of finance lease liability | 0 | 86 | 0 | 735 | — | — | — | — |
| Accrued capital expenditures | 3,364 | 2,062 | — | — | — | — | — | — |
| Receivable from partnership redemption | 0 | 31,643 | — | — | — | — | — | — |
| Building improvements received due to lease termination | 0 | 749 | — | — | — | — | — | — |
| Recognition of operating lease liability | 606 | — | — | — | — | — | — | — |
| Receivable recognized for partnership interest redemption | 158 | — | — | — | — | — | — | — |
| Note payable assumed through property acquisition | 17,650 | — | — | — | — | — | — | — |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.