Whitestone REIT 2026年季度报告

FORM 10-Q (Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2026OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from____________to____________ Commission File Number 001-34855WHITESTONE REIT (Exact Name of Registrant as Specified in Its Charter) Maryland(State or Other Jurisdiction of 76-0594970(I.R.S. Employer Incorporation or Organization) 2600 South Gessner, Suite 500Houston, Texas(Address of Principal Executive Offices) (Zip Code) (713) 827-9595(Registrant’s Telephone Number, Including Area Code) N/A(Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file suchreports), and (2) has been subject to such filing requirements for the past 90 days.☒Yes☐No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter periodthat the registrant was required to submit such files).☒Yes☐No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, asmaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,”“smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer☐Non-accelerated filer☐Emerging growthcompany☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition periodfor complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).☐Yes☒ No As of May 4, 2026, there were 51,393,977common shares of beneficial interest, $0.001 par value per share, outstanding. Table of Contents PART I - FINANCIAL INFORMATION Item 1.Financial Statements.1Consolidated Balance Sheets as of March 31, 2026 (Unaudited) and December 31, 20251Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) for the Three Months EndedMarch 31, 2026 and 20253Consolidated Statements of Changes in Equity (Unaudited) for the Three Months Ended March 31, 2026 and 20256Consolidated Statements of Cash Flows (Unaudited) for the Three Months Ended March 31, 2026and 20258Notes to Consolidated Financial Statements (Unaudited)10Item 2.Management's Discussion and Analysis of Financial Condition and Results of Operations.36Item 3.Quantitative and Qualitative Disclosures About Market Risk.57Item 4.Controls and Procedures.57 PART II - OTHER INFORMATIONItem 1.Legal Proceedings. Item 1A. Risk Factors.Item 2.Unregistered Sales of Equity Securities and Use of Proceeds.Item 3.Defaults Upon Senior Securities.Item 4.Mine Safety Disclosures.Item 5.Other Information.Item 6.Exhibits.Exhibit IndexSignatures Whitestone REIT and SubsidiariesCONSOLIDATED BALANCE SHEETS(in thousands, except share and per share data) Table of Contents Whitestone REIT and SubsidiariesCONSOLIDATED BALANCE SHEETS(in thousands) (3)No dividends were declared during the three months ended March 31, 2026; accordingly, no dividends and distribution payablewas recorded as of that date. See accompanying notes to Consolidated Financial Statements. Whitestone REIT and SubsidiariesCONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)(Unaudited)(in thousands) Depreciation and amortization9,9749,324Operating and maintenance7,3607,012Real estate taxes5,1274,252General and administrative6,0105,443Total operating expenses28,47126,031 Whitestone REIT and SubsidiariesCONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)(Unaudited)(in thousands, except per share data) Whitestone REIT and SubsidiariesCONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)(Unaudited)(in thousands) Three Months Ended March 31,20262025(1)RentalRental revenues$29,132$27,205Recoveries12,25210,509Bad debt(490)(319)Total rental$40,894$37,395 Whitestone REIT and SubsidiariesCONSOLIDATED STATEMENTS OF CHANGES IN EQUITY(Unaudited)(in thousands) See accompanying notes to Consolidated Financial Statements. See accompanying notes to Consolidated Financial Statements. Whitestone REIT and SubsidiariesCONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited)(in thousands) See accompanying notes to Consolidated Financial Statements. Whitestone REIT and Subsidi