Updated
The most significant concentration Whitestone REIT discloses is Houston, Dallas, and Phoenix metropolitan areas, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Whitestone REIT’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
“10-K Item 1A: 'Because a majority of our GLA is in the Houston, Dallas, and Phoenix metropolitan areas, an economic downturn in any of these areas could adversely impact our operations and ability to make distributions to our shareholders.'”
Whitestone REIT's disclosed concentration risk is a single, high-share geographic exposure: because a majority of the company's gross leasable area is in the Houston, Dallas, and Phoenix metropolitan areas, an economic downturn in any of these areas could adversely impact operations and the company's ability to make distributions to shareholders. This is a high-share concentration and is structural in character — it reflects Whitestone's strategic focus on a small number of Sun Belt metro markets rather than a dependency on any single tenant, supplier, or customer relationship. With no other concentration disclosed in the filing, this regional footprint is effectively the entire concentration story for Whitestone: performance is tied closely to the economic health of three specific metro areas rather than being diversified across a broader national footprint. Because commercial real estate performance tends to be sensitive to local employment, population growth, and commercial activity, a slowdown specific to Houston, Dallas, or Phoenix — whether from energy-sector weakness, population outflows, or broader regional economic softness — would have a more direct effect on Whitestone's occupancy, rents, and distributions than would be the case for a REIT with a more geographically dispersed portfolio. This concentration should be weighed as a regional economic sensitivity rather than a counterparty-specific dependency.
For the engine’s reasoning on WSR’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ALX | Alexander's, Inc. | 3 | 0 | 0 | 3 |
| BFS | Saul Centers, Inc. | 1 | 0 | 1 | 2 |
| AKR | Acadia Realty Trust | 1 | 0 | 0 | 1 |
| BRX | Brixmor Property Group Inc. | 1 | 0 | 0 | 1 |
| WSR● | Whitestone REIT | 1 | 0 | 0 | 1 |
| ADC | Agree Realty Corporation | 0 | 0 | 1 | 1 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.