Whitestone REIT (WSR) 10-Q 4 Nov 22 2022 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Nov. 02, 2022
Document Information [Line Items]
Entity Central Index Key	0001175535
Entity Registrant Name	Whitestone REIT
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2022
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-34855
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	76-0594970
Entity Address, Address Line One	2600 South Gessner, Suite 500
Entity Address, Postal Zip Code	77063
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
City Area Code	713
Local Phone Number	827-9595
Title of 12(b) Security	Common Shares of Beneficial Interest, par value $0.001 per share
Trading Symbol	WSR
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		49,386,066

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands		Sep. 30, 2022	Dec. 31, 2021
Property		$ 1,206,605	$ 1,196,919
Accumulated depreciation		(212,084)	(190,333)
Total real estate assets		994,521	1,006,586
Investment in real estate partnership	[1],[2]	34,891	34,588
Cash and cash equivalents		9,504	15,721
Restricted cash		63	193
Escrows and acquisition deposits		12,329	11,323
Accrued rents and accounts receivable, net of allowance for doubtful accounts		25,183	22,395
Receivable due from related party		1,333	847
Unamortized lease commissions, legal fees and loan costs		12,131	8,442
Prepaid expenses and other assets(1)	[3]	9,978	1,995
Total assets(1)		1,099,933	1,102,090
Liabilities:
Notes payable		637,138	642,842
Accounts payable and accrued expenses(2)	[4]	35,797	45,777
Payable due to related party		1,560	997
Tenants' security deposits		8,443	8,070
Dividends and distributions payable		6,004	5,366
Total liabilities		688,942	703,052
Commitments and contingencies:
Equity:
Preferred shares, $0.001 par value per share; 50,000,000 shares authorized; none issued and outstanding as of September 30, 2022 and December 31, 2021		0	0
Common shares, $0.001 par value per share; 400,000,000 shares authorized; 49,382,809 and 49,144,153 issued and outstanding as of September 30, 2022 and December 31, 2021, respectively		49	48
Additional paid-in capital		623,838	623,462
Accumulated deficit		(226,374)	(223,973)
Accumulated other comprehensive income (loss)		7,646	(6,754)
Total Whitestone REIT shareholders' equity		405,159	392,783
Noncontrolling interest in subsidiary		5,832	6,255
Total equity		410,991	399,038
Total liabilities and equity(2)		1,099,933	1,102,090
(2) Operating lease liabilities		150
Prepaid Expenses and Other Current Assets [Member]
Equity:
(1) Operating lease right of use assets (net)		145	222
Accounts Payable and Accrued Liabilities [Member]
Equity:
(2) Operating lease liabilities		$ 150	$ 231
[1]On December 26, 2021, the Board of Trustees of Pillarstone REIT adopted a new rights agreement (the “Pillarstone Rights Agreement”), pursuant to which each holder of Pillarstone REIT common stock received one preferred share purchase right (a “Right”) per common share held as of the applicable record date. Each Right entitles the registered holder to purchase from Pillarstone REIT one one-thousandth (a “Unit”) of a series D preferred share of Pillarstone at a purchase price (“Purchase Price”) of $7.00 per Unit, subject to adjustment. The Rights are exercisable upon the occurrence of certain events as described in the Pillarstone Rights Agreement, including the acquisition by certain holders of 5% or more of the common shares of Pillarstone REIT (an “Acquiring Person”). Upon the acquisition of Pillarstone REIT common shares by an Acquiring Person, each holder of a Right (other than an Acquiring Person), will have the right to receive upon exercise a number of Pillarstone REIT common shares having a market value of two times the Purchase Price.As set forth in the Amended and Restated Limited Partnership Agreement of Pillarstone OP, dated as of December 8, 2016 (the “Pillarstone Partnership Agreement”), we have the contractual right to have our limited partnership interests in Pillarstone redeemed at our discretion. However, upon receipt of a redemption notice, Pillarstone OP has the option of the applicable redemption price in cash, based on the market value of Pillarstone REIT common shares, or in Pillarstone REIT common shares. To the extent we seek to have our partnership units in Pillarstone OP redeemed and Pillarstone OP elects to pay the applicable redemption price in Pillarstone REIT common shares (and such shares represent 5% or more of the outstanding common shares of Pillarstone REIT), the Rights could become exercisable. To the extent the Rights are exercised as a result of our Pillarstone OP units being redeemed for Pillarstone REIT common shares, our ownership interest in Pillarstone REIT would be significantly diluted, which could adversely impact the value of our investment in Pillarstone OP. Because the Pillarstone Rights Agreement seeks to prevent Whitestone OP from exercising its contractual Redemption Right, on July 12, 2022, Whitestone OP filed suit against Pillarstone REIT in the Court of Chancery of the State of Delaware challenging the Pillarstone Rights Agreement due to Pillarstone REIT’s breach of the Pillarstone OP partnership agreement, breach of its fiduciary duty as general partner of Pillarstone OP to Whitestone OP, and breach of the implied covenant of good faith and fair dealing under the Pillarstone OP partnership agreement. The lawsuit seeks rescission and voiding of the Pillarstone Rights Agreement; a declaration that the Pillarstone Rights Agreement is unenforceable, invalid, and of no force and effect; an order permanently enjoining enforcement of the Pillarstone Rights Agreement; an award of monetary damages; and broad restrictions on Pillarstone REIT’s ability to conduct its business, including buying properties, enforcing the Rights Agreement, incurring expenses, or engaging in transactions.On September 8, 2022, the Company’s Motion to Preserve the Status Quo was granted by the Court, limiting Pillarstone from engaging in any acts outside the ordinary course of business and otherwise imposing restrictions on Pillarstone to ensure that Whitestone’s right of redemption right is not impaired while the underlying dispute is being considered by the Court.While we do not believe the overall impact of the Pillarstone Rights Agreement on the carrying value of our investment in Pillarstone OP is material, we cannot reasonably estimate a range of possible loss at this time.[2]We rely on reporting provided to us by our third-party partners for financial information regarding the Company's investment in Pillarstone OP. Because Pillarstone OP financial statements as of September 30, 2022 have not been made available to us, we have estimated the value of the investment based on the information available to us at the time of this report.[3]Operating lease right of use assets (net) $ 145 $ 222[4]Operating lease liabilities $ 150 $ 231

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common stock, shares issued (in shares)	49,382,809	49,144,153
Common stock, shares outstanding (in shares)	49,382,809	49,144,153

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues
Rental(1)	[1]	$ 35,029	$ 32,069	$ 103,500	$ 90,916
Management, transaction, and other fees		354	375	1,003	1,191
Total revenues		35,383	32,444	104,503	92,107
Operating expenses
Depreciation and amortization		7,889	7,340	23,661	21,458
Operating and maintenance		7,317	5,789	19,253	16,072
Real estate taxes		4,513	4,589	13,867	12,787
General and administrative		4,832	5,672	13,063	16,036
Total operating expenses		24,551	23,390	69,844	66,353
Other expenses (income)
Interest expense		6,816	6,142	19,111	18,417
(Gain) loss on sale or disposal of assets, net		7	48	12	(177)
Interest, dividend and other investment income		(13)	(31)	(43)	(103)
Total other expenses		6,810	6,159	19,080	18,137
Income before equity investment in real estate partnership and income tax		4,022	2,895	15,579	7,617
Equity in earnings of real estate partnership		65	151	304	429
Provision for income tax		(112)	(100)	(313)	(274)
Income from continuing operations		3,975	2,946	15,570	7,772
Gain on sale of property from discontinued operations		0	0	0	1,833
Income from discontinued operations		0	0	0	1,833
Net income		3,975	2,946	15,570	9,605
Less: Net income attributable to noncontrolling interests		60	47	239	165
Net income attributable to Whitestone REIT		$ 3,915	$ 2,899	$ 15,331	$ 9,440
Basic Earnings Per Share:
Income from continuing operations attributable to Whitestone REIT, excluding amounts attributable to unvested restricted shares (in dollars per share)		$ 0.08	$ 0.06	$ 0.31	$ 0.17
Income from discontinued operations attributable to Whitestone REIT (in dollars per share)		0	0	0	0.04
Net income attributable to common shareholders, excluding amounts attributable to unvested restricted shares (in dollars per share)		0.08	0.06	0.31	0.21
Diluted Earnings Per Share:
Income from continuing operations attributable to Whitestone REIT, excluding amounts attributable to unvested restricted shares (in dollars per share)		0.08	0.06	0.31	0.17
Income from discontinued operations attributable to Whitestone REIT (in dollars per share)		0	0	0	0.04
Net income attributable to common shareholders, excluding amounts attributable to unvested restricted shares (in dollars per share)		$ 0.08	$ 0.06	$ 0.31	$ 0.21
Weighted average number of common shares outstanding:
Basic (in shares)		49,274	46,883	49,211	44,268
Diluted (in shares)		50,129	47,825	49,916	45,108
Consolidated Statements of Comprehensive Income
Net income		$ 3,975	$ 2,946	$ 15,570	$ 9,605
Other comprehensive income
Amount Recognized as Comprehensive income		5,962	1,273	14,623	4,783
Comprehensive income		9,937	4,219	30,193	14,388
Less: Net income attributable to noncontrolling interests		60	47	239	165
Less: Comprehensive income attributable to noncontrolling interests		90	20	223	82
Comprehensive income attributable to Whitestone REIT		9,787	4,152	29,731	14,141
Rental revenues		25,244	23,177	75,023	67,041
Recoveries		10,152	8,720	29,092	24,375
Bad debt		(367)	172	(615)	(500)
Rental	[1]	$ 35,029	$ 32,069	$ 103,500	$ 90,916
[1]Rental Rental revenues $ 25,244 $ 23,177 $ 75,023 $ 67,041 Recoveries 10,152 8,720 29,092 24,375 Bad debt (367 ) 172 (615 ) (500 ) Total rental $ 35,029 $ 32,069 $ 103,500 $ 90,916

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands		Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Parent [Member]	OP Units [Member]	Noncontrolling Interest [Member]	Total
Balance (in shares) at Dec. 31, 2020		42,391					773
Balance at Dec. 31, 2020		$ 42	$ 562,250	$ (215,809)	$ (14,400)	$ 332,083		$ 6,243	$ 338,326
Issuance of shares under dividend reinvestment plan (in shares)		2					0
Issuance of shares under dividend reinvestment plan		$ 0	15	0	0	15		0	15
Repurchase of common shares (1)	[1]	$ 0	(324)	0	0	(324)		0	(324)
Share-based compensation (in shares)		223					0
Share-based compensation		$ 1	1,397	0	0	1,398		0	1,398
Distributions - per common share / OP unit		0	0	(4,622)	0	(4,622)			(4,705)
Distributions - per common share / OP unit								(83)
Unrealized gain on change in value of cash flow hedge		0	0	0	2,180	2,180		41	2,221
Net income		$ 0	0	1,415	0	1,415		26	1,441
Repurchase of common shares (1) (in shares)	[1]	(37)					0
Balance (in shares) at Mar. 31, 2021		42,579					773
Balance at Mar. 31, 2021		$ 43	563,338	(219,016)	(12,220)	332,145		6,227	338,372
Balance (in shares) at Dec. 31, 2020		42,391					773
Balance at Dec. 31, 2020		$ 42	562,250	(215,809)	(14,400)	332,083		6,243	338,326
Unrealized gain on change in value of cash flow hedge									4,783
Net income									9,605
Balance (in shares) at Sep. 30, 2021		48,840					773
Balance at Sep. 30, 2021		$ 48	618,963	(221,277)	(9,726)	388,008		6,268	394,276
Balance (in shares) at Mar. 31, 2021		42,579					773
Balance at Mar. 31, 2021		$ 43	563,338	(219,016)	(12,220)	332,145		6,227	338,372
Issuance of shares under dividend reinvestment plan		0	15	0	0	15		0	15
Repurchase of common shares (1)	[1]	$ 0	(104)	0	0	(104)		0	(104)
Share-based compensation (in shares)		101					0
Share-based compensation		$ 0	1,177	0	0	1,177		0	1,177
Distributions - per common share / OP unit		0	0	(4,952)	0	(4,952)			(5,035)
Distributions - per common share / OP unit								(83)
Unrealized gain on change in value of cash flow hedge		0	0	0	1,268	1,268		21	1,289
Net income		$ 0	0	5,126	0	5,126		92	5,218
Repurchase of common shares (1) (in shares)	[1]	(13)					0
Issuance of common shares - ATM Program, net of offering costs (in shares)		3,025					0
Issuance of common shares - ATM Program, net of offering costs		$ 2	25,369	0	0	25,371		0	25,371
Exchange offer costs		0	(31)	0	0	(31)		0	(31)
Reallocation of ownership between parent and subsidiary		$ 0	0	0	(14)	(14)		14	0
Balance (in shares) at Jun. 30, 2021		45,693					773
Balance at Jun. 30, 2021		$ 45	589,764	(218,842)	(10,966)	360,001		6,271	366,272
Issuance of shares under dividend reinvestment plan (in shares)		2					0
Issuance of shares under dividend reinvestment plan		$ 0	15	0	0	15		0	15
Repurchase of common shares (1)	[1]	$ 0	(250)	0	0	(250)		0	(250)
Share-based compensation (in shares)		182					0
Share-based compensation		$ 0	1,491	0	0	1,491		0	1,491
Distributions - per common share / OP unit		0	0	(5,334)	0	(5,334)			(5,417)
Distributions - per common share / OP unit								(83)
Unrealized gain on change in value of cash flow hedge		0	0	0	1,253	1,253		20	1,273
Net income		$ 0	0	2,899		2,899		47	2,946
Repurchase of common shares (1) (in shares)	[1]	(28)					0
Issuance of common shares - ATM Program, net of offering costs (in shares)		2,991					0
Issuance of common shares - ATM Program, net of offering costs		$ 3	27,961	0	0	27,964		0	27,964
Exchange offer costs		0	(18)	0	0	(18)		0	(18)
Reallocation of ownership between parent and subsidiary		$ 0	0	0	(13)	(13)		13	0
Balance (in shares) at Sep. 30, 2021		48,840					773
Balance at Sep. 30, 2021		$ 48	618,963	(221,277)	(9,726)	388,008		6,268	394,276
Balance (in shares) at Dec. 31, 2021		49,144					771
Balance at Dec. 31, 2021		$ 48	623,462	(223,973)	(6,754)	392,783		6,255	399,038
Exchange of noncontrolling interest OP units for common shares (in shares)		1					(1)
Exchange of noncontrolling interest OP units for common shares		$ 0	0	0	0	0		0	0
Issuance of shares under dividend reinvestment plan (in shares)		1					0
Issuance of shares under dividend reinvestment plan		$ 0	15	0	0	15		0	15
Repurchase of common shares (1)	[1]	$ 0	0	0	0	0		0	0
Share-based compensation (in shares)		0					0
Share-based compensation		$ 0	(1,413)	0	0	(1,413)		0	(1,413)
Distributions - per common share / OP unit		0	0	(5,897)	0	(5,897)			(5,989)
Distributions - per common share / OP unit								(92)
Unrealized gain on change in value of cash flow hedge		0	0	0	5,894	5,894		92	5,986
Net income		$ 0	0	7,078	0	7,078		111	7,189
Balance (in shares) at Mar. 31, 2022		49,146					770
Balance at Mar. 31, 2022		$ 48	622,064	(222,792)	(860)	398,460		6,366	404,826
Balance (in shares) at Dec. 31, 2021		49,144					771
Balance at Dec. 31, 2021		$ 48	623,462	(223,973)	(6,754)	392,783		6,255	399,038
Unrealized gain on change in value of cash flow hedge									14,623
Net income									15,570
Balance (in shares) at Sep. 30, 2022		49,383					695
Balance at Sep. 30, 2022		$ 49	623,838	(226,374)	7,646	405,159		5,832	410,991
Balance (in shares) at Mar. 31, 2022		49,146					770
Balance at Mar. 31, 2022		$ 48	622,064	(222,792)	(860)	398,460		6,366	404,826
Exchange of noncontrolling interest OP units for common shares		$ 1	7	0	0	8			0
Issuance of shares under dividend reinvestment plan (in shares)		2					0
Issuance of shares under dividend reinvestment plan		$ 0	17	0	0	17		0	17
Repurchase of common shares (1)	[1]	$ 0	(278)	0	0	(278)		0	(278)
Share-based compensation (in shares)		119					0
Share-based compensation		$ 0	783	0	0	783		0	783
Distributions - per common share / OP unit		0	0	(5,909)	0	(5,909)			(6,003)
Distributions - per common share / OP unit								(94)
Unrealized gain on change in value of cash flow hedge		0	0	0	2,634	2,634		41	2,675
Net income		$ 0	0	4,338	0	4,338		68	4,406
Exchange of noncontrolling interest OP units for common shares								(8)
Repurchase of common shares (1) (in shares)	[1]	(26)					0
Exchange of noncontrolling interest OP units for common shares								(8)
Balance (in shares) at Jun. 30, 2022		49,241					770
Balance at Jun. 30, 2022		$ 49	622,593	(224,363)	1,774	400,053		6,373	406,426
Exchange of noncontrolling interest OP units for common shares (in shares)		75					(75)
Exchange of noncontrolling interest OP units for common shares		$ 0	608	0	0	608			0
Issuance of shares under dividend reinvestment plan (in shares)		2					0
Issuance of shares under dividend reinvestment plan		$ 0	17	0	0	17		0	17
Repurchase of common shares (1)	[1]	$ 0	(249)	0	0	(249)		0	(249)
Share-based compensation (in shares)		86					0
Share-based compensation		$ 0	869	0	0	869		0	869
Distributions - per common share / OP unit		0	0	(5,926)	0	(5,926)			(6,009)
Distributions - per common share / OP unit								(83)
Unrealized gain on change in value of cash flow hedge		0	0	0	5,872	5,872		90	5,962
Net income		$ 0	0	3,915	0	3,915		60	3,975
Exchange of noncontrolling interest OP units for common shares								(608)
Repurchase of common shares (1) (in shares)	[1]	(21)					0
Exchange of noncontrolling interest OP units for common shares								(608)
Balance (in shares) at Sep. 30, 2022		49,383					695
Balance at Sep. 30, 2022		$ 49	$ 623,838	$ (226,374)	$ 7,646	$ 405,159		$ 5,832	$ 410,991
[1]The Company acquired common shares held by employees who tendered owned common shares to satisfy the tax withholding on the lapse of certain restrictions on restricted common shares.

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Equity (Unaudited) (Parentheticals) - $ / shares	3 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021
Distributions per common share / OP Unit (in dollars per share)	$ 0.1200	$ 0.1200	$ 0.1075	$ 0.1075	$ 0.1075	$ 0.1058

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net income from continuing operations		$ 15,570	$ 7,772
Net income from discontinued operations		0	1,833
Net income		15,570	9,605
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		23,661	21,458
Amortization of deferred loan costs		824	822
(Gain) loss on sale or disposal of assets, net		12	(177)
Bad debt		615	500
Share-based compensation		239	4,066
Equity in earnings of real estate partnership		(304)	(429)
Changes in operating assets and liabilities:
Escrows and acquisition deposits		(1,006)	(1,163)
Accrued rents and accounts receivable		(3,403)	518
Receivable due from related party		(486)	(316)
Unamortized lease commissions, legal fees and loan costs		(1,575)	(2,531)
Prepaid expenses and other assets		(6,266)	1,548
Accounts payable and accrued expenses		4,642	(1,572)
Payable due to related party		563	405
Tenants' security deposits		373	802
Net cash provided by operating activities		33,459	31,703
Cash flows from investing activities:
Acquisitions of real estate		0	(53,364)
Additions to real estate		(10,118)	(6,058)
Net cash used in investing activities		(10,118)	(59,422)
Net cash provided by investing activities of discontinued operations		0	1,833
Cash flows from financing activities:
Distributions paid to common shareholders		(17,049)	(14,063)
Distributions paid to OP unit holders		(263)	(248)
Proceeds from issuance of common shares, net of offering costs		0	53,335
Payments of exchange offer costs		0	(49)
Net payments of credit facility		(5,000)	(25,000)
Repayments of notes payable		(2,705)	(2,403)
Payments of loan origination costs		(4,144)	0
Repurchase of common shares		(527)	(678)
Net cash provided by (used in) financing activities		(29,688)	10,894
Net decrease in cash, cash equivalents and restricted cash		(6,347)	(14,992)
Cash, cash equivalents and restricted cash at beginning of period		15,914	25,956
Cash, cash equivalents and restricted cash at end of period (1)	[1]	9,567	10,964
Supplemental disclosure of cash flow information:
Cash paid for interest		18,980	17,732
Cash paid for taxes		366	364
Non cash investing and financing activities:
Disposal of fully depreciated real estate		80	284
Financed insurance premiums		1,846	1,712
Value of shares issued under dividend reinvestment plan		49	45
Change in fair value of cash flow hedge		14,623	4,783
Cash, cash equivalents and restricted cash
Cash and cash equivalents		9,504	10,858
Restricted cash		63	106
Total cash, cash equivalents and restricted cash		9,567	10,964
Conversion of OP Units to Common Stock [Member]
Non cash investing and financing activities:
Value of common shares exchanged for OP units		$ 616	$ 0
[1]For a reconciliation of cash, cash equivalents and restricted cash, see supplemental disclosures below.

Note 1 - Interim Financial Stat

Note 1 - Interim Financial Statements	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. INTERIM FINANCIAL STATEMENTS The consolidated financial statements included in this report are unaudited; however, amounts presented in the consolidated balance sheet as of December 31, 2021 September 30, 2022 10 The consolidated financial statements presented herein reflect all adjustments which, in the opinion of management, are necessary for a fair presentation of the financial position of Whitestone and our subsidiaries as of September 30, 2022 December 31, 2021 three nine September 30, 2022 2021 three March 31, June 30, September 30, 2022 2021 nine September 30, 2022 2021 not 10 December 31, 2021 Business August 20, 1998. July 2004, December 31, 1998 September 30, 2022 December 31, 2021 As of September 30, 2022 Consolidated Operating Portfolio • 55 wholly owned properties that meet our Community Centered Properties® strategy; and Redevelopment, New Acquisitions Portfolio • five As of September 30, 2022 eight not The global health crisis caused by COVID- 19 may 19

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Consolidation. September 30, 2022 December 31, 2021 Noncontrolling interest in the accompanying consolidated financial statements represents the share of equity and earnings of the Operating Partnership allocable to holders of partnership interests other than us. Net income or loss is allocated to noncontrolling interests based on the weighted-average percentage ownership of the Operating Partnership during the period. Issuance of additional common shares of beneficial interest in Whitestone (the “common shares”) and units of limited partnership interest in the Operating Partnership that are convertible into cash or, at our option, common shares on a one one Equity Method. 2014 09 606” 610, Other Income-Gains and Losses from the Derecognition of Nonfinancial Assets Basis of Accounting. Use of Estimates. 19 not Reclassifications. no Restricted Cash. 2015, January 6, 2024 ( 7 Derivative Instruments and Hedging Activities. 2 820, Fair Value Measurements and Disclosures. 2 not September 30, 2022 Development Properties. three September 30, 2022 nine September 30, 2022 three September 30, 2021 nine September 30, 2021 Share-Based Compensation. may 2018 “2018 three September 30, 2022 2021 nine September 30, 2022 2021 January 18, 2022, three March 31, 2022 Noncontrolling Interests. not Accrued Rents and Accounts Receivable. 19 not September 30, 2022 December 31, 2021 three September 30, 2022 2021 nine September 30, 2022 2021 three September 30, 2022 three September 30, 2021 nine September 30, 2022 nine September 30, 2021 Revenue Recognition. Rental third Other property income primarily includes amounts recorded in connection with management fees and lease termination fees. Pillarstone OP paid us management fees for property management, leasing and day-to-day advisory and administrative services. August 18, 2022. We recognize lease termination fees in the year that the lease is terminated and collection of the fee is probable. Amounts recorded within other property income are accounted for at the point in time when control of the goods or services transfers to the customer and our performance obligation is satisfied. See our Annual Report on Form 10 December 31, 2021 Recent Accounting Pronouncements. April 2020, 842, 19 19 842 not 19 not not 842 19 842 not 842. March 2020, No. 2020 04, 848 2020 04” January 2021, No. 2021 01, 848 2021 01” 2020 04 2021 01. not

Note 3 - Leases

Note 3 - Leases	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	3. LEASES As a Lessor. Rental A summary of minimum future rents to be received (exclusive of renewals, tenant reimbursements, contingent rents, and collectability adjustments under Topic 842 September 30, 2022 Years Ended December 31, Minimum Future Rents (1) 2022 (remaining) $ 24,444 2023 93,917 2024 80,285 2025 63,598 2026 48,308 Thereafter 139,948 Total $ 450,500 ( 1 not not As a Lessee. one three The following table summarizes the fixed, future minimum rental payments, excluding variable costs, which are discounted by our weighted average incremental borrowing rates to calculate the lease liabilities for our operating leases in which we are the lessee (in thousands): Years Ended December 31, September 30, 2022 2022 (remaining) $ 23 2023 65 2024 43 2025 27 2026 1 Thereafter — Total undiscounted rental payments 159 Less imputed interest 9 Total lease liabilities $ 150 For the three September 30, 2022 2021 nine September 30, 2022 2021 September 30, 2022 not September 30, 2022

Note 4 - Accrued Rents and Acco

Note 4 - Accrued Rents and Accounts Receivable, Net	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	4. Accrued rents and accounts receivable, net consists of amounts accrued, billed and due from tenants, allowance for doubtful accounts and other receivables as follows (in thousands): September 30, 2022 December 31, 2021 Tenant receivables $ 18,867 $ 18,410 Accrued rents and other recoveries 21,341 18,681 Allowance for doubtful accounts (15,627 ) (14,896 ) Other receivables 602 200 Total $ 25,183 $ 22,395

Note 5 - Unamortized Lease Comm

Note 5 - Unamortized Lease Commissions, Legal Fees and Loan Costs	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Unamortized Lease Commissions and Loan Costs [Text Block]	5. Costs which have been deferred consist of the following (in thousands): September 30, 2022 December 31, 2021 Leasing commissions $ 15,377 $ 13,341 Deferred legal cost 391 365 Deferred financing cost 4,149 3,898 Total cost 19,917 17,604 Less: leasing commissions accumulated amortization (7,469 ) (6,305 ) Less: deferred legal cost accumulated amortization (273 ) (248 ) Less: deferred financing cost accumulated amortization (44 ) (2,609 ) Total cost, net of accumulated amortization $ 12,131 $ 8,442

Note 6 - Investment in Real Est

Note 6 - Investment in Real Estate Partnership	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Equity Method Investments and Joint Ventures Disclosure [Text Block]	6. On December 8, 2016, four not 1 2 In connection with the Contribution, Whitestone TRS, Inc., a subsidiary of the Company (“Whitestone TRS”), entered into a management agreement with the entities that own the contributed Pillarstone Properties (collectively, the “Management Agreements”). Pursuant to the Management Agreements, Whitestone TRS agreed to provide certain property management, leasing and day-to-day advisory and administrative services. The management agreement was terminated on August 18, 2022. In connection with the Contribution, on December 8, 2016, December 8, 2021 The table below presents the real estate partnership investment in which the Company holds an ownership interest (in thousands): Company’s Investment as of September 30, 2022 December 31, 2021 Real estate partnership Ownership Interest Pillarstone OP (1) 81.4% $ 34,891 $ 34,588 Total real estate partnership (2)(3) $ 34,891 $ 34,588 ( 1 Representing eight September 30, 2022 December 31, 2021. ( 2 On December 26, 2021, one one one two December 8, 2016 ( July 12, 2022, no September 8, 2022, not not ( 3 We rely on reporting provided to us by our third September 30, 2022 not The table below presents the Company’s share of net income (loss) from its investment in the real estate partnership which is included in equity in earnings of real estate partnership, net on the Company’s consolidated statements of operations and comprehensive income (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Pillarstone OP $ 65 $ 151 $ 304 $ 429 Summarized financial information for the Company’s investment in real estate partnership is as follows (in thousands): September 30, 2022 December 31, 2021 Assets: Real estate, net $ 47,880 $ 48,273 Other assets 9,680 8,790 Total assets (1) 57,560 57,063 Liabilities and equity: Notes payable 14,757 14,920 Other liabilities 3,653 3,200 Equity 39,150 38,943 Total liabilities and equity (2) 57,560 57,063 Company’s share of equity 31,888 31,718 Cost of investment in excess of the Company’s share of underlying net book value 3,003 2,870 Carrying value of investment in real estate partnership (3) $ 34,891 $ 34,588 ( 1 We rely on reporting provided to us by our third September 30, 2022 not ( 2 We rely on reporting provided to us by our third September 30, 2022 not ( 3 We rely on reporting provided to us by our third September 30, 2022 not Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Revenues $ 2,288 $ 2,379 $ 6,892 $ 6,843 Operating expenses (1,895 ) (1,787 ) (5,446 ) (5,184 ) Other expenses (281 ) (351 ) (974 ) (1,033 ) Net income (1) $ 112 $ 241 $ 472 $ 626 ( 1 We rely on reporting provided to us by our third September 30, 2022 not The amortization of the basis difference between the cost of investment and the Company's share of underlying net book value for the three September 30, 2022 2021 nine September 30, 2022 2021 The Company has evaluated its guarantee to Pillarstone OP pursuant to ASC 460, Guarantees, 460 two 3 820 seven three September 30, 2022 2021 nine September 30, 2022 2021,

Note 7 - Debt

Note 7 - Debt	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Debt Disclosure [Text Block]	7. Certain subsidiaries of Whitestone are the borrowers under various financing arrangements. These subsidiaries are separate legal entities, and their respective assets and credit are not Debt consisted of the following as of the dates indicated (in thousands): Description September 30, 2022 December 31, 2021 Fixed rate notes $ 100.0 1.73 1.35 1.90 (1) $ — $ 100,000 $ 165.0 2.24 1.35 1.90 (1) — 165,000 $ 265.0 3.18 1.45 2.10 January 31, 2028 (2) 265,000 — $ 80.0 3.72 June 1, 2027 80,000 80,000 $ 19.0 4.15 December 1, 2024 18,103 18,358 $ 20.2 4.28 June 6, 2023 17,485 17,808 $ 14.0 4.34 September 11, 2024 12,778 12,978 $ 14.3 4.34 September 11, 2024 13,585 13,773 $ 15.1 4.99 January 6, 2024 13,705 13,907 $ 2.6 5.46 October 1, 2023 2,250 2,289 $ 50.0 5.09 March 22, 2029 50,000 50,000 $ 50.0 5.17 March 22, 2029 50,000 50,000 $ 1.8 3.15 November 28, 2022 349 — Floating rate notes Unsecured line of credit, SOFR plus 1.50 2.10 September 16, 2026 114,500 119,500 Total notes payable principal 637,755 643,613 Less deferred financing costs, net of accumulated amortization (617 ) (771 ) Total notes payable $ 637,138 $ 642,842 ( 1 Loan was fully paid off on September 16, 2022. ( 2 Promissory note includes an interest rate swap that fixes the SOFR portion of the term loan at an interest rate of 2.16% through October 28, 2022, October 29, 2022 January 31, 2024, February 1, 2024 January 31, 2028. A number of our current debt agreements have an interest rate tied to LIBOR. Some of these agreements provide procedures for determining an alternative base rate in the event that LIBOR is discontinued, but not no may 2021 no On March 22, 2019, March 22, 2029 ( March 22, 2029 ( March 22, 2019 ( The principal of the Series A Notes will begin to amortize on March 22, 2023 March 22, 2025 22nd March, June, September December The Operating Partnership may not The Note Agreement contains representations, warranties, covenants, terms and conditions customary for transactions of this type and substantially similar to the Operating Partnership’s existing senior revolving credit facility, including limitations on liens, incurrence of investments, acquisitions, loans and advances and restrictions on dividends and certain other restricted payments. In addition, the Note Agreement contains certain financial covenants substantially similar to the Operating Partnership’s existing senior revolving credit facility, including the following: • maximum total indebtedness to total asset value ratio of 0.60 to 1.00; • maximum secured debt to total asset value ratio of 0.40 to 1.00; • minimum EBITDA (earnings before interest, taxes, depreciation, amortization or extraordinary items) to fixed charges ratio of 1.50 to 1.00; • maximum other recourse debt to total asset value ratio of 0.15 to 1.00; • maintenance of a minimum tangible net worth (adjusted for accumulated depreciation and amortization) of $372 million plus 75% of the net proceeds from additional equity offerings (as defined therein). In addition, the Note Agreement contains a financial covenant requiring that maximum unsecured debt not The Note Agreement also contains default provisions, including defaults for non-payment, breach of representations and warranties, insolvency, non-performance of covenants, cross-defaults with other indebtedness and guarantor defaults. The occurrence of an event of default under the Note Agreement could result in the Purchasers accelerating the payment of all obligations under the Notes. The financial and restrictive covenants and default provisions in the Note Agreement are substantially similar to those contained in the Operating Partnership’s existing credit facility. Net proceeds from the Private Placement were used to refinance existing indebtedness. The Notes have not not 1933, may not 4 2 On September 16, 2022, “2022 2022 January 31, 2019 ( "2019 The 2022 two • $250.0 million unsecured revolving credit facility with a maturity date of September 16, 2026 “2022 • $265.0 million unsecured term loan with a maturity date of January 31, 2028 ( Borrowings under the 2022 September 30, 2022 2022 • 2.16% plus 1.55% through October 28, 2022 • 2.80% plus 1.55% from October 29, 2022 January 31, 2024 • 3.42% plus 1.55% from February 1, 2024 January 31, 2028 The 2022 one two 2 The 2022 September 30, 2022 , subject to any potential future paydowns or increases in the borrowing base, we have $126.4 million remaining availability under the 2022 September 30, 2022 , $379.5 million was drawn on the 2022 2022 million of proceeds from the 2022 2019 The Company, each direct and indirect material subsidiary of the Operating Partnership and any other subsidiary of the Operating Partnership that is a guarantor under any unsecured ratable debt will serve as a guarantor for funds borrowed by the Operating Partnership under the 2022 2022 2022 • maximum total indebtedness to total asset value ratio of 0.60 to 1.00; • maximum secured debt to total asset value ratio of 0.40 to 1.00; • minimum EBITDA (earnings before interest, taxes, depreciation, amortization or extraordinary items) to fixed charges ratio of 1.50 to 1.00; • maximum other recourse debt to total asset value ratio of 0.15 to 1.00; • maintenance of a minimum tangible net worth (adjusted for accumulated depreciation and amortization) of $449 million plus 75% of the net proceeds from additional equity offerings (as defined therein). We serve as the guarantor for funds borrowed by the Operating Partnership under the 2022 2022 2022 As of September 30, 2022 seven September 30, 2022 Scheduled maturities of our outstanding debt as of September 30, 2022 Year Amount Due 2022 (remaining) $ 1,104 2023 27,863 2024 63,573 2025 17,143 2026 131,643 Thereafter 396,429 Total $ 637,755

Note 8 - Derivatives and Hedgin

Note 8 - Derivatives and Hedging Activities	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	8. DERIVATIVES AND HEDGING ACTIVITIES The fair value of our interest rate swaps is as follows (in thousands): September 30, 2022 Balance Sheet Location Estimated Fair Value Prepaid expenses and other assets $ 7,764 December 31, 2021 Balance Sheet Location Estimated Fair Value Accounts payable and accrued expenses $ (6,860 ) On January 31, 2019, 2019 September 7, 2022, 7 2019 February 8, 2021 January 31, 2024. not 12 On November 19, 2015, 2018 fourth 2015, 7 2018 November 30, 2015 October 28, 2022. not 12 On September 16, 2022, 2022 3.32%. $100 October 29, 2022, $265 February 1, 2024, January 31, 2028. $20.7 $54.8 $25.4 $67.2 $20.7 $54.8 $5.9 $15.7 7 2022 not 12 A summary of our interest rate swap activity is as follows (in thousands): Amount Recognized as Comprehensive income Location of Income (Loss) Recognized in Earnings Amount of Income (Loss) Recognized in Earnings (1) Three Months Ended September 30, 2022 $ 5,962 Interest expense $ 52 Three Months Ended September 30, 2021 $ 1,273 Interest expense $ (1,401 ) Nine Months Ended September 30, 2022 $ 14,623 Interest expense $ (2,276 ) Nine Months Ended September 30, 2021 $ 4,783 Interest expense $ (4,057 ) ( 1 There was no ineffective portion of our interest rate swaps to recognize in earnings for the three nine September 30, 2022 2021

Note 9 - Earnings Per Share

Note 9 - Earnings Per Share	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Earnings Per Share [Text Block]	9. EARNINGS PER SHARE Basic earnings per share for our common shareholders is calculated by dividing net income excluding the net income attributable to unvested restricted common shares and the net income attributable to noncontrolling interests, by our weighted average common shares outstanding during the period. Diluted earnings per share is computed by dividing the net income attributable to common shareholders, excluding the net income attributable to unvested restricted common shares and the net income attributable to noncontrolling interests, by the weighted average number of common shares including any dilutive unvested restricted common shares. Certain of our performance-based restricted common shares are considered participating securities that require the use of the two three September 30, 2022 2021 nine September 30, 2022 2021 Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except per share data) 2022 2021 2022 2021 Numerator: Income from continuing operations $ 3,975 $ 2,946 $ 15,570 $ 7,772 Less: Net income attributable to noncontrolling interests (60 ) (47 ) (239 ) (132 ) Income from continuing operations attributable to Whitestone REIT excluding amounts attributable to unvested restricted shares 3,915 2,899 15,331 7,640 Income from discontinued operations — — — 1,833 Less: Net income attributable to noncontrolling interests — — — (33 ) Income from discontinued operations attributable to Whitestone REIT — — — 1,800 Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares $ 3,915 $ 2,899 $ 15,331 $ 9,440 Denominator: Weighted average number of common shares - basic 49,274 46,883 49,211 44,268 Effect of dilutive securities: Unvested restricted shares 855 942 705 840 Weighted average number of common shares - dilutive 50,129 47,825 49,916 45,108 Earnings Per Share: Basic: Income from continuing operations attributable to Whitestone REIT excluding amounts attributable to unvested restricted shares $ 0.08 $ 0.06 $ 0.31 $ 0.17 Income from discontinued operations attributable to Whitestone REIT — — — 0.04 Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares $ 0.08 $ 0.06 $ 0.31 $ 0.21 Diluted: Income from continuing operations attributable to Whitestone REIT excluding amounts attributable to unvested restricted shares $ 0.08 $ 0.06 $ 0.31 $ 0.17 Income from discontinued operations attributable to Whitestone REIT — — — 0.04 Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares $ 0.08 $ 0.06 $ 0.31 $ 0.21

Note 10 - Income Taxes

Note 10 - Income Taxes	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Income Tax Disclosure [Text Block]	10. With the exception of our taxable REIT subsidiaries, federal income taxes are generally not 1986, 90% We are subject to the Texas Margin Tax, which is computed by applying the applicable tax rate (0.75% for us) to the profit margin, which generally will be determined for us as total revenue less a 30% not 740, Income Taxes three September 30, 2022 2021 nine September 30, 2022 2021

Note 11 - Equity

Note 11 - Equity	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	11. EQUITY Common Shares Under our declaration of trust, as amended, we have authority to issue up to 400,000,000 common shares of beneficial interest, $0.001 par value per share, and up to 50,000,000 preferred shares of beneficial interest, $0.001 par value per share. Equity Offerings On May 20, 2022, 3 On September 9, 2022, eleven “2022 3 No. 333 264881 415 no 2022 2022 We have in the past, and expect to in the future, enter into at-the-market equity distribution programs providing for the issuance and sale of common shares. Actual sales will depend on a variety of factors determined by us from time to time, including (among others) market conditions, the trading price of our common shares, capital needs and our determinations of the appropriate sources of funding for us, and were made in transactions that will be deemed to be “at-the-market” offerings as defined in Rule 415 1933, three nine September 30, 2022 not three September 30, 2021, 2019 3 No. 333 225007 nine September 30, 2021, 2019 Operating Partnership Units Substantially all of our business is conducted through our Operating Partnership. We are the sole general partner of the Operating Partnership. As of September 30, 2022 Limited partners in the Operating Partnership holding OP units have the right to redeem their OP units for cash or, at our option, common shares at a ratio of one one September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 third three September 30, 2022 2021 nine September 30, 2022 2021 three September 30, 2022 2021 nine September 30, 2022 2021 Distributions The following table summarizes the cash distributions paid or payable to holders of common shares and to holders of noncontrolling OP units during each quarter of 2021 nine September 30, 2022 Common Shares Noncontrolling OP Unit Holders Total Quarter Paid Distributions Per Common Share Amount Paid Distributions Per OP Unit Amount Paid Amount Paid 2022 Third Quarter $ 0.1200 $ 5,901 $ 0.1200 $ 88 $ 5,989 Second Quarter 0.1200 5,880 0.1200 92 5,972 First Quarter 0.1075 5,268 0.1075 83 5,351 Total $ 0.3475 $ 17,049 $ 0.3475 $ 263 $ 17,312 2021 Fourth Quarter $ 0.1075 $ 5,257 $ 0.1075 $ 83 $ 5,340 Third Quarter 0.1075 4,981 0.1075 83 5,064 Second Quarter 0.1075 4,602 0.1075 83 4,685 First Quarter 0.1058 4,480 0.1058 82 4,562 Total $ 0.4283 $ 19,320 $ 0.4283 $ 331 $ 19,651 The Board will regularly reassess the dividend, particularly as there is more clarity on the duration and severity of the COVID- 19

Note 12 - Incentive Share Plan

Note 12 - Incentive Share Plan	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	12. INCENTIVE SHARE PLAN The Company’s 2008 “2008 July 2018. May 11, 2017, 2018 “2018 2018 2018 2018 July 30, 2018, 2008 The Compensation Committee administered the 2008 2018 2008 2018 September 6, 2017, 2008 2008 September 30, 2024 ( not September 30, 2024, September 30, 2024 no On March 16, 2018, 2008 three On December 1, 2018, 2018 three December 1, 2018 December 31, 2020. three January 1, 2021, December 1, 2018 On June 30, 2019, 2018 September 30, 2019, 2018 three June 30, 2019 December 31, 2021. three December 31, 2021, June 30, 2019 September 30, 2019 three June 30, 2019 September 30, 2019 On July 31, 2020, 2018 three July 31, 2020 December 31, 2022. three three On March 17, 2021, 2018 On June 30, 2021, 2018 three June 30, 2021 December 31, 2023. three three June 30, 2021 not 2018 On September 30, 2021, 2018 three On March 28, 2022, 2018 three June 30, 2022 December 31, 2024. three three A summary of the share-based incentive plan activity as of and for the nine September 30, 2022 Weighted Average Grant Date Shares Fair Value Non-vested at January 1, 2022 2,716,132 $ 8.32 Granted 325,112 11.84 Vested (205,281 ) 7.46 Forfeited (1,336,518 ) 8.30 Non-vested at September 30, 2022 1,499,445 9.22 Available for grant at September 30, 2022 1,226,469 A summary of our non-vested and vested shares activity for the nine September 30, 2022 December 31, 2021 2020 Shares Granted Shares Vested Non-Vested Shares Issued Weighted Average Grant-Date Fair Value Vested Shares Total Vest-Date Fair Value (in thousands) Nine Months Ended September 30, 2022 325,112 $ 11.84 (205,281 ) $ 1,531 Year Ended December 31, 2021 904,215 $ 5.99 (1,024,808 ) $ 9,757 Year Ended December 31, 2020 1,108,014 $ 5.76 (511,621 ) $ 5,566 Total compensation recognized in earnings for share-based payments was $943,000 and $1,563,000 for the three September 30, 2022 2021 nine September 30, 2022 2021 Based on our current financial projections, we expect approximately 100% of the unvested awards, exclusive of 455,000 CIC Units, to vest over the next 33 months. As of September 30, 2022 October 1, 2022. We expect to record approximately $1.4 million in non-cash share-based compensation expense in 2022 2022. September 30, 2022 2020, 2021, 2022, September 30, 2024

Note 13 - Grants to Trustees

Note 13 - Grants to Trustees	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Trustee Incentive Shares [Text Block]	13. On December 13, 2021, December 31, 2021

Note 14 - Segment Information

Note 14 - Segment Information	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	14. Historically, our management has not not

Note 15 - Real Estate

Note 15 - Real Estate	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Real Estate Disclosure [Text Block]	15. Property Acquisitions. December 1, 2021 On July 8, 2021,

Note 16 - Related Party Transac

Note 16 - Related Party Transactions	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	16. RELATED PARTY TRANSACTIONS The Contribution January 18, 2022, 13d 3 1 1934, April 18, 2022. February 9, 2022, 13d 3 1 Pillarstone OP During the ordinary course of business, we had transactions with Pillarstone OP that include, but are not August 18, 2022. The following table presents the revenue and expenses with Pillarstone OP included in our consolidated statements of operations and comprehensive income for the three nine September 30, 2022 2021 Three Months Ended September 30, Nine Months Ended September 30, Location of Revenue (Expense) 2022 2021 2022 2021 Rent Operating and maintenance $ (105 ) $ (225 ) $ (471 ) $ (672 ) Property management fee income Management, transaction, and other fees $ 75 $ 142 $ 359 $ 426

Note 17 - Commitments and Conti

Note 17 - Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	17. COMMITMENTS AND CONTINGENCIES Litigation between the Company and Pillarstone REIT On September 16, 2022, not not Former CEO Litigation On February 23, 2022, not not Pillarstone Rights Plan On December 26, 2021, one one As set forth in the Amended and Restated Limited Partnership Agreement of Pillarstone OP, dated as of December 8, 2016 ( Because the Pillarstone Rights Agreement seeks to prevent Whitestone OP from exercising its contractual Redemption Right, on July 12, 2022, no On September 8, 2022, not While we do not We are subject to various legal proceedings and claims that arise in the ordinary course of business. These matters are generally covered by insurance. While the resolution of these matters cannot be predicted with certainty, management believes the final outcome of such matters will not

Note 18 - Subsequent Events

Note 18 - Subsequent Events	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Subsequent Events [Text Block]	18. SUBSEQUENT EVENTS On October 31, 2022, not not On November 4, 2022, December 1, 2022.

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Basis of Consolidation. September 30, 2022 December 31, 2021 Noncontrolling interest in the accompanying consolidated financial statements represents the share of equity and earnings of the Operating Partnership allocable to holders of partnership interests other than us. Net income or loss is allocated to noncontrolling interests based on the weighted-average percentage ownership of the Operating Partnership during the period. Issuance of additional common shares of beneficial interest in Whitestone (the “common shares”) and units of limited partnership interest in the Operating Partnership that are convertible into cash or, at our option, common shares on a one one
Equity Method Investments [Policy Text Block]	Equity Method. 2014 09 606” 610, Other Income-Gains and Losses from the Derecognition of Nonfinancial Assets
Basis of Accounting, Policy [Policy Text Block]	Basis of Accounting.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates. 19 not
Reclassification, Comparability Adjustment [Policy Text Block]	Reclassifications. no
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Restricted Cash. 2015, January 6, 2024 ( 7
Derivatives, Policy [Policy Text Block]	Derivative Instruments and Hedging Activities. 2 820, Fair Value Measurements and Disclosures. 2 not September 30, 2022
Real Estate Held for Development and Sale, Policy [Policy Text Block]	Development Properties. three September 30, 2022 nine September 30, 2022 three September 30, 2021 nine September 30, 2021
Share-Based Payment Arrangement [Policy Text Block]	Share-Based Compensation. may 2018 “2018 three September 30, 2022 2021 nine September 30, 2022 2021 January 18, 2022, three March 31, 2022
Consolidation, Subsidiaries or Other Investments, Consolidated Entities, Policy [Policy Text Block]	Noncontrolling Interests. not
Receivable [Policy Text Block]	Accrued Rents and Accounts Receivable. 19 not September 30, 2022 December 31, 2021 three September 30, 2022 2021 nine September 30, 2022 2021 three September 30, 2022 three September 30, 2021 nine September 30, 2022 nine September 30, 2021
Revenue from Contract with Customer [Policy Text Block]	Revenue Recognition. Rental third Other property income primarily includes amounts recorded in connection with management fees and lease termination fees. Pillarstone OP paid us management fees for property management, leasing and day-to-day advisory and administrative services. August 18, 2022. We recognize lease termination fees in the year that the lease is terminated and collection of the fee is probable. Amounts recorded within other property income are accounted for at the point in time when control of the goods or services transfers to the customer and our performance obligation is satisfied. See our Annual Report on Form 10 December 31, 2021
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements. April 2020, 842, 19 19 842 not 19 not not 842 19 842 not 842. March 2020, No. 2020 04, 848 2020 04” January 2021, No. 2021 01, 848 2021 01” 2020 04 2021 01. not

Note 3 - Leases (Tables)

Note 3 - Leases (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Lessor, Operating Lease, Payment to be Received, Fiscal Year Maturity [Table Text Block]	Years Ended December 31, Minimum Future Rents (1) 2022 (remaining) $ 24,444 2023 93,917 2024 80,285 2025 63,598 2026 48,308 Thereafter 139,948 Total $ 450,500
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Years Ended December 31, September 30, 2022 2022 (remaining) $ 23 2023 65 2024 43 2025 27 2026 1 Thereafter — Total undiscounted rental payments 159 Less imputed interest 9 Total lease liabilities $ 150

Note 4 - Accrued Rents and Ac_2

Note 4 - Accrued Rents and Accounts Receivable, Net (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	September 30, 2022 December 31, 2021 Tenant receivables $ 18,867 $ 18,410 Accrued rents and other recoveries 21,341 18,681 Allowance for doubtful accounts (15,627 ) (14,896 ) Other receivables 602 200 Total $ 25,183 $ 22,395

Note 5 - Unamortized Lease Co_2

Note 5 - Unamortized Lease Commissions, Legal Fees and Loan Costs (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]	September 30, 2022 December 31, 2021 Leasing commissions $ 15,377 $ 13,341 Deferred legal cost 391 365 Deferred financing cost 4,149 3,898 Total cost 19,917 17,604 Less: leasing commissions accumulated amortization (7,469 ) (6,305 ) Less: deferred legal cost accumulated amortization (273 ) (248 ) Less: deferred financing cost accumulated amortization (44 ) (2,609 ) Total cost, net of accumulated amortization $ 12,131 $ 8,442

Note 6 - Investment in Real E_2

Note 6 - Investment in Real Estate Partnership (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Equity Method Investments [Table Text Block]	Company’s Investment as of September 30, 2022 December 31, 2021 Real estate partnership Ownership Interest Pillarstone OP (1) 81.4% $ 34,891 $ 34,588 Total real estate partnership (2)(3) $ 34,891 $ 34,588 September 30, 2022 December 31, 2021 Assets: Real estate, net $ 47,880 $ 48,273 Other assets 9,680 8,790 Total assets (1) 57,560 57,063 Liabilities and equity: Notes payable 14,757 14,920 Other liabilities 3,653 3,200 Equity 39,150 38,943 Total liabilities and equity (2) 57,560 57,063 Company’s share of equity 31,888 31,718 Cost of investment in excess of the Company’s share of underlying net book value 3,003 2,870 Carrying value of investment in real estate partnership (3) $ 34,891 $ 34,588 Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Revenues $ 2,288 $ 2,379 $ 6,892 $ 6,843 Operating expenses (1,895 ) (1,787 ) (5,446 ) (5,184 ) Other expenses (281 ) (351 ) (974 ) (1,033 ) Net income (1) $ 112 $ 241 $ 472 $ 626
Real Estate Investment Financial Statements, Disclosure [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Pillarstone OP $ 65 $ 151 $ 304 $ 429

Note 7 - Debt (Tables)

Note 7 - Debt (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Schedule of Debt [Table Text Block]	Description September 30, 2022 December 31, 2021 Fixed rate notes $ 100.0 1.73 1.35 1.90 (1) $ — $ 100,000 $ 165.0 2.24 1.35 1.90 (1) — 165,000 $ 265.0 3.18 1.45 2.10 January 31, 2028 (2) 265,000 — $ 80.0 3.72 June 1, 2027 80,000 80,000 $ 19.0 4.15 December 1, 2024 18,103 18,358 $ 20.2 4.28 June 6, 2023 17,485 17,808 $ 14.0 4.34 September 11, 2024 12,778 12,978 $ 14.3 4.34 September 11, 2024 13,585 13,773 $ 15.1 4.99 January 6, 2024 13,705 13,907 $ 2.6 5.46 October 1, 2023 2,250 2,289 $ 50.0 5.09 March 22, 2029 50,000 50,000 $ 50.0 5.17 March 22, 2029 50,000 50,000 $ 1.8 3.15 November 28, 2022 349 — Floating rate notes Unsecured line of credit, SOFR plus 1.50 2.10 September 16, 2026 114,500 119,500 Total notes payable principal 637,755 643,613 Less deferred financing costs, net of accumulated amortization (617 ) (771 ) Total notes payable $ 637,138 $ 642,842
Schedule of Maturities of Long-Term Debt [Table Text Block]	Year Amount Due 2022 (remaining) $ 1,104 2023 27,863 2024 63,573 2025 17,143 2026 131,643 Thereafter 396,429 Total $ 637,755

Note 8 - Derivatives and Hedg_2

Note 8 - Derivatives and Hedging Activities (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Schedule of Interest Rate Derivatives [Table Text Block]	September 30, 2022 Balance Sheet Location Estimated Fair Value Prepaid expenses and other assets $ 7,764 December 31, 2021 Balance Sheet Location Estimated Fair Value Accounts payable and accrued expenses $ (6,860 )
Derivative Instruments, Gain (Loss) [Table Text Block]	Amount Recognized as Comprehensive income Location of Income (Loss) Recognized in Earnings Amount of Income (Loss) Recognized in Earnings (1) Three Months Ended September 30, 2022 $ 5,962 Interest expense $ 52 Three Months Ended September 30, 2021 $ 1,273 Interest expense $ (1,401 ) Nine Months Ended September 30, 2022 $ 14,623 Interest expense $ (2,276 ) Nine Months Ended September 30, 2021 $ 4,783 Interest expense $ (4,057 )

Note 9 - Earnings Per Share (Ta

Note 9 - Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except per share data) 2022 2021 2022 2021 Numerator: Income from continuing operations $ 3,975 $ 2,946 $ 15,570 $ 7,772 Less: Net income attributable to noncontrolling interests (60 ) (47 ) (239 ) (132 ) Income from continuing operations attributable to Whitestone REIT excluding amounts attributable to unvested restricted shares 3,915 2,899 15,331 7,640 Income from discontinued operations — — — 1,833 Less: Net income attributable to noncontrolling interests — — — (33 ) Income from discontinued operations attributable to Whitestone REIT — — — 1,800 Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares $ 3,915 $ 2,899 $ 15,331 $ 9,440 Denominator: Weighted average number of common shares - basic 49,274 46,883 49,211 44,268 Effect of dilutive securities: Unvested restricted shares 855 942 705 840 Weighted average number of common shares - dilutive 50,129 47,825 49,916 45,108 Earnings Per Share: Basic: Income from continuing operations attributable to Whitestone REIT excluding amounts attributable to unvested restricted shares $ 0.08 $ 0.06 $ 0.31 $ 0.17 Income from discontinued operations attributable to Whitestone REIT — — — 0.04 Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares $ 0.08 $ 0.06 $ 0.31 $ 0.21 Diluted: Income from continuing operations attributable to Whitestone REIT excluding amounts attributable to unvested restricted shares $ 0.08 $ 0.06 $ 0.31 $ 0.17 Income from discontinued operations attributable to Whitestone REIT — — — 0.04 Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares $ 0.08 $ 0.06 $ 0.31 $ 0.21

Note 11 - Equity (Tables)

Note 11 - Equity (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Distributions Made to Limited Partner, by Distribution [Table Text Block]	Common Shares Noncontrolling OP Unit Holders Total Quarter Paid Distributions Per Common Share Amount Paid Distributions Per OP Unit Amount Paid Amount Paid 2022 Third Quarter $ 0.1200 $ 5,901 $ 0.1200 $ 88 $ 5,989 Second Quarter 0.1200 5,880 0.1200 92 5,972 First Quarter 0.1075 5,268 0.1075 83 5,351 Total $ 0.3475 $ 17,049 $ 0.3475 $ 263 $ 17,312 2021 Fourth Quarter $ 0.1075 $ 5,257 $ 0.1075 $ 83 $ 5,340 Third Quarter 0.1075 4,981 0.1075 83 5,064 Second Quarter 0.1075 4,602 0.1075 83 4,685 First Quarter 0.1058 4,480 0.1058 82 4,562 Total $ 0.4283 $ 19,320 $ 0.4283 $ 331 $ 19,651

Note 12 - Incentive Share Plan

Note 12 - Incentive Share Plan (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Schedule of Nonvested Share Activity [Table Text Block]	Weighted Average Grant Date Shares Fair Value Non-vested at January 1, 2022 2,716,132 $ 8.32 Granted 325,112 11.84 Vested (205,281 ) 7.46 Forfeited (1,336,518 ) 8.30 Non-vested at September 30, 2022 1,499,445 9.22 Available for grant at September 30, 2022 1,226,469
Share-Based Payment Arrangement, Outstanding Award, Activity, Excluding Option [Table Text Block]	Shares Granted Shares Vested Non-Vested Shares Issued Weighted Average Grant-Date Fair Value Vested Shares Total Vest-Date Fair Value (in thousands) Nine Months Ended September 30, 2022 325,112 $ 11.84 (205,281 ) $ 1,531 Year Ended December 31, 2021 904,215 $ 5.99 (1,024,808 ) $ 9,757 Year Ended December 31, 2020 1,108,014 $ 5.76 (511,621 ) $ 5,566

Note 16 - Related Party Trans_2

Note 16 - Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Schedule of Related Party Transactions [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, Location of Revenue (Expense) 2022 2021 2022 2021 Rent Operating and maintenance $ (105 ) $ (225 ) $ (471 ) $ (672 ) Property management fee income Management, transaction, and other fees $ 75 $ 142 $ 359 $ 426

Note 1 - Interim Financial St_2

Note 1 - Interim Financial Statements (Details Textual) ft² in Millions	9 Months Ended
	Sep. 30, 2022 ft²
Reorganization and Conversion, Number of Common Shares	1.42857
Pillarstone OP [Member]
Number of Real Estate Properties	8
Equity Method Investment, Ownership Percentage	81.40%	[1]
Wholly Owned Properties [Member]
Number of Real Estate Properties	60
Wholly Owned Properties [Member] | Community Centered Properties [Member]
Number of Real Estate Properties	55
Wholly Owned Properties [Member] | Parcels Held for Future Development [Member]
Asset Acquisition, Number of Properties Acquired During Period	5
Unconsolidated Properties [Member] | Pillarstone OP [Member]
Number of Real Estate Properties	8
Area of Real Estate Property (Square Foot)	0.9
[1]Representing eight property interests and 926,798 square feet of GLA, as of September 30, 2022 and December 31, 2021.

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies (Details Textual)	3 Months Ended			9 Months Ended
	Sep. 30, 2022 USD ($) $ / shares	Mar. 31, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) $ / shares	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2015 USD ($)
Conversion Ratio for Class Common Stock to OP Unit (in dollars per share) | $ / shares	$ 1			$ 1
Real Estate Inventory, Capitalized Interest Costs Incurred	$ 112,000		$ 109,000	$ 316,000	$ 312,000
Real Estate Taxes, Capitalized	72,000		75,000	222,000	225,000
Share-Based Payment Arrangement, Expense	943,000		1,563,000	455,000	4,275,000
Reversal of Share-based Compensation Expense for Forfeitures		$ 2,200,000
Accounts Receivable, Allowance for Credit Loss, Ending Balance	15,627,000			15,627,000		$ 14,896,000
Provision for Lease Losses	$ 367,000		$ (172,000)	$ 615,000	$ 500,000
Accounts Receivable, Credit Loss Expense (Reversal), Number of Tenants, COVID-19	77		63	77	63
Accounts Receivable, Credit Loss Expense (Reversal), COVID-19	$ 30,000		$ 300,000	$ 400,000	$ 600,000
Straight Line Rent Adjustments, COVID-19	$ 200,000		$ 200,000	$ 400,000	$ 500,000
Anthem Marketplace Note [Member]
Debt Instrument, Face Amount							$ 15,100,000
Debt Instrument, Interest Rate, Stated Percentage							4.99%

Note 3 - Leases (Details Textua

Note 3 - Leases (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Operating Lease, Cost	$ 122,000	$ 253,000	$ 552,000	$ 778,000
Operating Lease, Weighted Average Remaining Lease Term (Year)	2 years 7 months 6 days		2 years 7 months 6 days
Operating Lease, Weighted Average Discount Rate, Percent	4.50%		4.50%
Minimum [Member] | Office Space, Automobile, and Office Machine [Member]
Lessee, Operating Lease, Remaining Lease Term (Year)	1 year		1 year
Maximum [Member] | Office Space, Automobile, and Office Machine [Member]
Lessee, Operating Lease, Remaining Lease Term (Year)	3 years		3 years

Note 3 - Leases - Summary of Mi

Note 3 - Leases - Summary of Minimum Future Rents to be Received (Details) $ in Thousands	Sep. 30, 2022 USD ($)	[1]
2022 (remaining)	$ 24,444
2023	93,917
2024	80,285
2025	63,598
2026	48,308
Thereafter	139,948
Total	$ 450,500
[1]These amounts do not reflect future rental revenues from the renewal or replacement of existing leases and exclude reimbursements of operating expenses and rental increases that are not fixed.

Note 3 - Leases - Summary of Fu

Note 3 - Leases - Summary of Future Minimum Rental Payments (Details) $ in Thousands	Sep. 30, 2022 USD ($)
2022 (remaining)	$ 23
2023	65
2024	43
2025	27
2026	1
Thereafter	0
Total undiscounted rental payments	159
Less imputed interest	9
Total lease liabilities	$ 150

Note 4 - Accrued Rents and Ac_3

Note 4 - Accrued Rents and Accounts Receivable, Net - Schedule of Accrued Rents and Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Tenant receivables	$ 18,867	$ 18,410
Accrued rents and other recoveries	21,341	18,681
Allowance for doubtful accounts	(15,627)	(14,896)
Other receivables	602	200
Total	$ 25,183	$ 22,395

Note 5 - Unamortized Lease Co_3

Note 5 - Unamortized Lease Commissions, Legal Fees and Loan Costs - Deferred Costs (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Leasing commissions	$ 15,377	$ 13,341
Deferred legal cost	391	365
Deferred financing cost	4,149	3,898
Total cost	19,917	17,604
Less: leasing commissions accumulated amortization	(7,469)	(6,305)
Less: deferred legal cost accumulated amortization	(273)	(248)
Less: deferred financing cost accumulated amortization	(44)	(2,609)
Total cost, net of accumulated amortization	$ 12,131	$ 8,442

Note 6 - Investment in Real E_3

Note 6 - Investment in Real Estate Partnership (Details Textual)	3 Months Ended		9 Months Ended		24 Months Ended
	Sep. 30, 2022 USD ($) ft²	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) ft²	Sep. 30, 2021 USD ($)	Dec. 08, 2018 USD ($)	Dec. 26, 2021 $ / shares	Dec. 08, 2016
Performance Guarantee [Member]
Guarantees, Fair Value Disclosure	$ 462,000		$ 462,000
Guarantee Liability, Amortization Period (Year)			7 years
Amortization of Guarantee Liability	$ 9,000	$ 18,000	$ 28,000	$ 28,000
Pillarstone OP [Member]
Number of Real Estate Properties	8		8
Net Rentable Area (Square Foot) | ft²	926,798		926,798
Common Stock Rights Agreement, Preferred Purchase Rights Issued Per Share (in dollars per share) | $ / shares						$ 1
Preferred Share Purchase Rights, Exercisable, Percentage of Common Share by Certain Holders						5%
Common Stock Rights Agreement, Purchase Price Multiplier						2
Equity Method Investment, Difference Between Carrying Amount And Underlying Equity, Amortization	$ 27,000	$ 45,000	$ 81,000	$ 81,000
Pillarstone OP [Member] | Series D Preferred Stock [Member]
Preferred Share Purchase Rights, Conversion Ratio to Preferred Share						0.001
Common Stock Rights Agreement, Purchase Price Per Unit (in dollars per share) | $ / shares						$ 7
Uptown Tower [Member]
Property Management Fee Revenue			$ 144,000
Variable Interest Entity, Primary Beneficiary [Member]
Number of Wholly-owned Subsidiaries Contributed to Variable Interest Entity							4
Number of Non-core Properties Contributed to Variable Interest Entity							14
Variable Interest Entity, Consideration, Amount					$ 84,000,000
Variable Interest Entity, Consideration, Limited Partnership Interest					18,100,000
Variable Interest Entity, Consideration, Liabilities Assumed					$ 65,900,000

Note 6 - Investment in Real E_4

Note 6 - Investment in Real Estate Partnership - Real Estate Partnership Investment (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Investment	[1],[2]	$ 34,891		$ 34,891		$ 34,588
Real estate, net		994,521		994,521		1,006,586
Total assets(1)		1,099,933		1,099,933		1,102,090
Notes payable		637,138		637,138		642,842
Equity		405,159		405,159		392,783
Total liabilities and equity(2)		1,099,933		1,099,933		1,102,090
Carrying value of investment in real estate partnership(3)	[1],[2]	34,891		34,891		34,588
Revenues		35,383	$ 32,444	104,503	$ 92,107
Other expenses		(6,810)	(6,159)	(19,080)	(18,137)
Net income(1)		$ 3,915	2,899	$ 15,331	9,440
Pillarstone OP [Member]
Ownership interest	[3]	81.40%		81.40%
Investment	[2],[3]	$ 34,891		$ 34,891		34,588
Company’s share of equity		31,888		31,888		31,718
Cost of investment in excess of the Company’s share of underlying net book value		3,003		3,003		2,870
Carrying value of investment in real estate partnership(3)	[2],[3]	34,891		34,891		34,588
Pillarstone OP [Member]
Real estate, net		47,880		47,880		48,273
Other assets		9,680		9,680		8,790
Total assets(1)	[4]	57,560		57,560		57,063
Notes payable		14,757		14,757		14,920
Other liabilities		3,653		3,653		3,200
Equity		39,150		39,150		38,943
Total liabilities and equity(2)	[5]	57,560		57,560		$ 57,063
Revenues		2,288	2,379	6,892	6,843
Operating expenses		(1,895)	(1,787)	(5,446)	(5,184)
Other expenses		(281)	(351)	(974)	(1,033)
Net income(1)	[6]	$ 112	$ 241	$ 472	$ 626
[1]On December 26, 2021, the Board of Trustees of Pillarstone REIT adopted a new rights agreement (the “Pillarstone Rights Agreement”), pursuant to which each holder of Pillarstone REIT common stock received one preferred share purchase right (a “Right”) per common share held as of the applicable record date. Each Right entitles the registered holder to purchase from Pillarstone REIT one one-thousandth (a “Unit”) of a series D preferred share of Pillarstone at a purchase price (“Purchase Price”) of $7.00 per Unit, subject to adjustment. The Rights are exercisable upon the occurrence of certain events as described in the Pillarstone Rights Agreement, including the acquisition by certain holders of 5% or more of the common shares of Pillarstone REIT (an “Acquiring Person”). Upon the acquisition of Pillarstone REIT common shares by an Acquiring Person, each holder of a Right (other than an Acquiring Person), will have the right to receive upon exercise a number of Pillarstone REIT common shares having a market value of two times the Purchase Price.As set forth in the Amended and Restated Limited Partnership Agreement of Pillarstone OP, dated as of December 8, 2016 (the “Pillarstone Partnership Agreement”), we have the contractual right to have our limited partnership interests in Pillarstone redeemed at our discretion. However, upon receipt of a redemption notice, Pillarstone OP has the option of the applicable redemption price in cash, based on the market value of Pillarstone REIT common shares, or in Pillarstone REIT common shares. To the extent we seek to have our partnership units in Pillarstone OP redeemed and Pillarstone OP elects to pay the applicable redemption price in Pillarstone REIT common shares (and such shares represent 5% or more of the outstanding common shares of Pillarstone REIT), the Rights could become exercisable. To the extent the Rights are exercised as a result of our Pillarstone OP units being redeemed for Pillarstone REIT common shares, our ownership interest in Pillarstone REIT would be significantly diluted, which could adversely impact the value of our investment in Pillarstone OP. Because the Pillarstone Rights Agreement seeks to prevent Whitestone OP from exercising its contractual Redemption Right, on July 12, 2022, Whitestone OP filed suit against Pillarstone REIT in the Court of Chancery of the State of Delaware challenging the Pillarstone Rights Agreement due to Pillarstone REIT’s breach of the Pillarstone OP partnership agreement, breach of its fiduciary duty as general partner of Pillarstone OP to Whitestone OP, and breach of the implied covenant of good faith and fair dealing under the Pillarstone OP partnership agreement. The lawsuit seeks rescission and voiding of the Pillarstone Rights Agreement; a declaration that the Pillarstone Rights Agreement is unenforceable, invalid, and of no force and effect; an order permanently enjoining enforcement of the Pillarstone Rights Agreement; an award of monetary damages; and broad restrictions on Pillarstone REIT’s ability to conduct its business, including buying properties, enforcing the Rights Agreement, incurring expenses, or engaging in transactions.On September 8, 2022, the Company’s Motion to Preserve the Status Quo was granted by the Court, limiting Pillarstone from engaging in any acts outside the ordinary course of business and otherwise imposing restrictions on Pillarstone to ensure that Whitestone’s right of redemption right is not impaired while the underlying dispute is being considered by the Court.While we do not believe the overall impact of the Pillarstone Rights Agreement on the carrying value of our investment in Pillarstone OP is material, we cannot reasonably estimate a range of possible loss at this time.[2]We rely on reporting provided to us by our third-party partners for financial information regarding the Company's investment in Pillarstone OP. Because Pillarstone OP financial statements as of September 30, 2022 have not been made available to us, we have estimated the value of the investment based on the information available to us at the time of this report.[3]Representing eight property interests and 926,798 square feet of GLA, as of September 30, 2022 and December 31, 2021.[4]We rely on reporting provided to us by our third-party partners for financial information regarding the Company's investment in Pillarstone OP. Because Pillarstone OP financial statements as of September 30, 2022 have not been made available to us, we have estimated total assets and its components based on the information available to us at the time of this report.[5]We rely on reporting provided to us by our third-party partners for financial information regarding the Company's investment in Pillarstone OP. Because Pillarstone OP financial statements as of September 30, 2022 have not been made available to us, we have estimated total liabilities and equity and its components based on the information available to us at the time of this report.[6]We rely on reporting provided to us by our third-party partners for financial information regarding the Company's investment in Pillarstone OP. Because Pillarstone OP financial statements as of September 30, 2022 have not been made available to us, we have estimated net income and its components based on the information available to us at the time of this report.

Note 6 - Investment in Real E_5

Note 6 - Investment in Real Estate Partnership - Net Income from Investment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Pillarstone OP [Member]
Pillarstone OP	$ 65	$ 151	$ 304	$ 429

Note 7 - Debt (Details Textual)

Note 7 - Debt (Details Textual)			9 Months Ended	10 Months Ended	12 Months Ended	15 Months Ended	48 Months Ended
	Sep. 16, 2022 USD ($)	Mar. 22, 2019 USD ($)	Sep. 30, 2022 USD ($)	Oct. 28, 2022	Dec. 31, 2021 USD ($)	Jan. 31, 2024	Jan. 31, 2028	Mar. 31, 2024
Secured Debt, Total			$ 157,900,000
Asset Pledged as Collateral [Member] | Secured Debt [Member]
Number of Real Estate Properties			7
Real Estate Investments, Net, Total			$ 243,500,000
The 265 Million Note Due January 31, 2028 [Member]
Debt Instrument, Interest Rate, Stated Percentage			3.18%
Debt Instrument, Face Amount			$ 265,000,000
The 265 Million Note Due January 31, 2028 [Member] | Scenario, Plan [Member]
Debt Instrument, Interest Rate, Stated Percentage							3.32%	2.76%
The 265 Million Note Due January 31, 2028 [Member] | Subsequent Event [Member]
Debt Instrument, Interest Rate, Stated Percentage				2.16%
The Series A and Series B Notes [Member]
Debt Instrument, Face Amount		$ 100,000,000
Debt Instrument, Minimum Partial Prepayment		$ 1,000,000
Debt Instrument, Redemption Price, Percentage		100%
Debt Instrument, Covenant, Maximum Total Indebtedness to Total Asset Value Ratio		0.60
Debt Instrument, Covenant, Maximum Secured Debt to Total Asset Value Ratio		0.40
Debt Instrument, Covenant, Minimum EBITDA to Fixed Charges Ratio		1.50
Debt Instrument, Covenant, Maximum Other Recourse Debt to Total Asset Value Ratio		0.15
Debt Instrument, Covenant, Tangible Net Worth Threshold Before Percentage of Aggregate Net Proceeds, Amount		$ 372,000,000
Debt Instrument, Covenant, Tangible Net Worth, Percentage of Aggregate Net Proceeds, Minimum		75%
Debt Instrument, Covenant, Maximum Unsecured Debt, Percentage of Aggregate Unencumbered Asset Value		60%
The Series A Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage		5.09%	5.09%		5.09%
Debt Instrument, Face Amount		$ 50,000,000	$ 50,000,000		$ 50,000,000
Debt Instrument, Annual Principal Payment		$ 7,100,000
The Series B Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage		5.17%	5.17%		5.17%
Debt Instrument, Face Amount		$ 50,000,000	$ 50,000,000		$ 50,000,000
Debt Instrument, Annual Principal Payment		$ 10,000,000
The 2022 Facility [Member]
Debt Instrument, Covenant, Maximum Total Indebtedness to Total Asset Value Ratio	0.60
Debt Instrument, Covenant, Maximum Secured Debt to Total Asset Value Ratio	0.40
Debt Instrument, Covenant, Minimum EBITDA to Fixed Charges Ratio	1.50
Debt Instrument, Covenant, Maximum Other Recourse Debt to Total Asset Value Ratio	0.15
Debt Instrument, Covenant, Tangible Net Worth Threshold Before Percentage of Aggregate Net Proceeds, Amount	$ 449,000,000
Debt Instrument, Covenant, Tangible Net Worth, Percentage of Aggregate Net Proceeds, Minimum	75%
Debt Instrument, Basis Spread on Variable Rate			1.50%		1.50%
Debt Instrument, Basis Point Credit Spread Adjustment			2.10%		2.10%
Debt Instrument, Applicable Margin Adjustment per Annum	0.02%
The 2022 Facility [Member] | Fed Funds Effective Rate Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	0.50%
The 2022 Facility [Member] | Adjusted Term SOFR for One Month Tenor in Effect [Member]
Debt Instrument, Basis Spread on Variable Rate	1.10%
The 2022 Facility [Member] | Adjusted Term SOFR for 2 Business Days Prior [Member]
Debt Instrument, Basis Spread on Variable Rate	0.10%
The 2022 Facility [Member] | Term Loans [Member]
Debt Instrument, Face Amount	$ 265,000,000
The 2022 Facility [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	250,000,000
Line of Credit Facility, Interest Rate at Period End			4.62%
Debt Instrument, Basis Point Credit Spread Adjustment			0.10%
Line of Credit Facility, Accordion Feature, Increase Limit	$ 200,000,000
Line of Credit Facility, Remaining Borrowing Capacity			$ 126,400,000
Long-Term Line of Credit, Total			379,500,000
Debt Instrument, Unused Borrowing Capacity, Amount			$ 135,000,000
The 2022 Facility [Member] | Revolving Credit Facility [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate			1.60%
The 2022 Facility [Member] | Forecast [Member] | Term Loans [Member]
Debt Instrument, Interest Rate, Stated Percentage						2.80%	3.42%
The 2022 Facility [Member] | Forecast [Member] | Term Loans [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate						1.55%	1.55%
The 2022 Facility [Member] | Subsequent Event [Member] | Term Loans [Member]
Debt Instrument, Interest Rate, Stated Percentage				2.16%
The 2022 Facility [Member] | Subsequent Event [Member] | Term Loans [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate				1.55%
The 2019 Facility [Member]
Repayments of Long-Term Debt, Total			$ 379,500,000

Note 7 - Debt - Schedule of Deb

Note 7 - Debt - Schedule of Debt (Details) - USD ($) $ in Thousands		Sep. 30, 2022	Dec. 31, 2021
Notes payable principal		$ 637,755	$ 643,613
Less deferred financing costs, net of accumulated amortization		(617)	(771)
Total notes payable		637,138	642,842
The 100 Million Note Due October 30, 2022 [Member]
Notes payable principal	[1]	0	100,000
The 165 Million Note Due January 31, 2024 [Member]
Notes payable principal	[1]	0	165,000
The 265 Million Note Due January 31, 2028 [Member]
Notes payable principal	[2]	265,000	0
The 80 Million Note Due June 1, 2027 [Member]
Notes payable principal		80,000	80,000
The 19 Million Note Due December 1, 2024 [Member]
Notes payable principal		18,103	18,358
The 20.2 Million Note Due June 6, 2023 [Member]
Notes payable principal		17,485	17,808
The 14 Million Note Due September 11, 2024 [Member]
Notes payable principal		12,778	12,978
The 14.3 Million Note Due September 11, 2024 [Member]
Notes payable principal		13,585	13,773
The 15.1 Million Note Due January 6, 2024 [Member]
Notes payable principal		13,705	13,907
The 2.6 Million Note Due October 1, 2023 [Member]
Notes payable principal		2,250	2,289
The Series A Notes [Member]
Notes payable principal		50,000	50,000
The Series B Notes [Member]
Notes payable principal		50,000	50,000
The 1.8 Million Note Due November 28, 2022 [Member]
Notes payable principal		349	0
The 2022 Facility [Member]
Notes payable principal		$ 114,500	$ 119,500
[1]Loan was fully paid off on September 16, 2022.[2]Promissory note includes an interest rate swap that fixes the SOFR portion of the term loan at an interest rate of 2.16% through October 28, 2022, 2.76% from October 29, 2022 through January 31, 2024, and 3.32% beginning February 1, 2024 through January 31, 2028.

Note 7 - Debt - Schedule of D_2

Note 7 - Debt - Schedule of Debt (Details) (Parentheticals) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021	Mar. 22, 2019
The 100 Million Note Due October 30, 2022 [Member]
Face amount		$ 100
Interest rate, stated		1.73%
The 100 Million Note Due October 30, 2022 [Member] | Minimum [Member]
Interest rate, variable		1.35%
The 100 Million Note Due October 30, 2022 [Member] | Maximum [Member]
Interest rate, variable		1.90%
The 165 Million Note Due January 31, 2024 [Member]
Face amount		$ 165
Interest rate, stated		2.24%
The 165 Million Note Due January 31, 2024 [Member] | Minimum [Member]
Interest rate, variable		1.35%
The 165 Million Note Due January 31, 2024 [Member] | Maximum [Member]
Interest rate, variable		1.90%
The 265 Million Note Due January 31, 2028 [Member]
Face amount	$ 265
Interest rate, stated	3.18%
Maturity date	Jan. 31, 2028
The 265 Million Note Due January 31, 2028 [Member] | Minimum [Member]
Interest rate, variable	1.45%
The 265 Million Note Due January 31, 2028 [Member] | Maximum [Member]
Interest rate, variable	2.10%
The 80 Million Note Due June 1, 2027 [Member]
Face amount	$ 80	$ 80
Interest rate, stated	3.72%	3.72%
Maturity date	Jun. 01, 2027	Jun. 01, 2027
The 19 Million Note Due December 1, 2024 [Member]
Face amount	$ 19	$ 19
Interest rate, stated	4.15%	4.15%
Maturity date	Dec. 01, 2024	Dec. 01, 2024
The 20.2 Million Note Due June 6, 2023 [Member]
Face amount	$ 20.2	$ 20.2
Interest rate, stated	4.28%	4.28%
Maturity date	Jun. 06, 2023	Jun. 06, 2023
The 14 Million Note Due September 11, 2024 [Member]
Face amount	$ 14	$ 14
Interest rate, stated	4.34%	4.34%
Maturity date	Sep. 11, 2024	Sep. 11, 2024
The 14.3 Million Note Due September 11, 2024 [Member]
Face amount	$ 14.3	$ 14.3
Interest rate, stated	4.34%	4.34%
Maturity date	Sep. 11, 2024	Sep. 11, 2024
The 15.1 Million Note Due January 6, 2024 [Member]
Face amount	$ 15.1	$ 15.1
Interest rate, stated	4.99%	4.99%
Maturity date	Jan. 06, 2024	Jan. 06, 2024
The 2.6 Million Note Due October 1, 2023 [Member]
Face amount	$ 2.6	$ 2.6
Interest rate, stated	5.46%	5.46%
Maturity date	Oct. 01, 2023	Oct. 01, 2023
The Series A Notes [Member]
Face amount	$ 50	$ 50	$ 50
Interest rate, stated	5.09%	5.09%	5.09%
Maturity date	Mar. 22, 2029
The Series B Notes [Member]
Face amount	$ 50	$ 50	$ 50
Interest rate, stated	5.17%	5.17%	5.17%
Maturity date	Mar. 22, 2029	Mar. 22, 2029
The 1.8 Million Note Due November 28, 2022 [Member]
Face amount	$ 1.8	$ 1.8
Interest rate, stated	3.15%	3.15%
Maturity date	Nov. 28, 2022	Nov. 28, 2022
The 2022 Facility [Member]
Interest rate, variable	1.50%	1.50%
Maturity date	Sep. 16, 2026	Sep. 16, 2026
Basis Point Credit Spread Adjustment	2.10%	2.10%

Note 7 - Debt - Scheduled Matur

Note 7 - Debt - Scheduled Maturities of Outstanding Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
2022 (remaining)	$ 1,104
2023	27,863
2024	63,573
2025	17,143
2026	131,643
Thereafter	396,429
Total	$ 637,755	$ 643,613

Note 8 - Derivatives and Hedg_3

Note 8 - Derivatives and Hedging Activities (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Feb. 01, 2024	Oct. 29, 2022	Sep. 16, 2022	Sep. 07, 2022	Jan. 31, 2019	Nov. 19, 2015
Interest Rate Swap Two [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]
Derivative, Notional Amount									$ 165,000
Derivative, Fixed Interest Rate									2.43%
Interest Rate Swap Two [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | U.S. Bank, National Association [Member]
Derivative, Notional Amount									$ 32,600
Interest Rate Swap Two [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Regions Bank [Member]
Derivative, Notional Amount									29,400
Interest Rate Swap Two [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | SunTrust Bank [Member]
Derivative, Notional Amount									40,000
Interest Rate Swap Two [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Associated Bank [Member]
Derivative, Notional Amount									$ 15,000
Interest Rate Swap Two [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Bank of Montreal [Member]
Derivative, Notional Amount								$ 29,400
Interest Rate Swap One [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]
Derivative, Notional Amount										$ 100,000
Derivative, Fixed Interest Rate										1.73%
Interest Rate Swap One [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | U.S. Bank, National Association [Member]
Derivative, Notional Amount										$ 35,000
Interest Rate Swap One [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | SunTrust Bank [Member]
Derivative, Notional Amount										$ 15,000
Interest Rate Swap Three [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]
Derivative, Fixed Interest Rate							3.32%
Interest Rate Swap Three [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Forecast [Member]
Derivative, Notional Amount					$ 265,000
Interest Rate Swap Three [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Subsequent Event [Member]
Derivative, Notional Amount						$ 100,000
Interest Rate Swap Three [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | U.S. Bank, National Association [Member] | Forecast [Member]
Derivative, Notional Amount					54,800
Interest Rate Swap Three [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | U.S. Bank, National Association [Member] | Subsequent Event [Member]
Derivative, Notional Amount						20,700
Interest Rate Swap Three [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Associated Bank [Member] | Forecast [Member]
Derivative, Notional Amount					15,700
Interest Rate Swap Three [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Associated Bank [Member] | Subsequent Event [Member]
Derivative, Notional Amount						5,900
Interest Rate Swap Three [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Truist Bank [Member] | Forecast [Member]
Derivative, Notional Amount					67,200
Interest Rate Swap Three [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Truist Bank [Member] | Subsequent Event [Member]
Derivative, Notional Amount						25,400
Interest Rate Swap Three [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Capital One, National Association [Member] | Forecast [Member]
Derivative, Notional Amount					$ 54,800
Interest Rate Swap Three [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Capital One, National Association [Member] | Subsequent Event [Member]
Derivative, Notional Amount						$ 20,700
Interest Rate Swap [Member]
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net, Total	$ 0	$ 0	$ 0	$ 0

Note 8 - Derivatives and Hedg_4

Note 8 - Derivatives and Hedging Activities - Fair Value of Interest Rate Swaps (Details) - Interest Rate Swap [Member] - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Prepaid Expenses and Other Current Assets [Member]
Prepaid expenses and other assets (accounts payable and accrued expenses)	$ 7,764
Accounts Payable and Accrued Liabilities [Member]
Prepaid expenses and other assets (accounts payable and accrued expenses)		$ (6,860)

Note 8 - Derivatives and Hedg_5

Note 8 - Derivatives and Hedging Activities - Summary of Interest Rate Swap Activity (Details) - USD ($) $ in Thousands		3 Months Ended						9 Months Ended
		Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Amount Recognized as Comprehensive income		$ 5,962	$ 2,675	$ 5,986	$ 1,273	$ 1,289	$ 2,221	$ 14,623	$ 4,783
Interest Rate Swap [Member]
Amount Recognized as Comprehensive income		5,962			1,273			14,623	4,783
Interest Rate Swap [Member] | Interest Expense [Member]
Amount of Income (Loss) Recognized in Earnings	[1]	$ 52			$ (1,401)			$ (2,276)	$ (4,057)
[1]There was no ineffective portion of our interest rate swaps to recognize in earnings for the three and nine months ended September 30, 2022 and 2021.

Note 9 - Earnings Per Share (De

Note 9 - Earnings Per Share (Details Textual) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
OP Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	752,327	772,775	752,634	772,775

Note 9 - Earnings Per Share - C

Note 9 - Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income from continuing operations	$ 3,975	$ 2,946	$ 15,570	$ 7,772
Less: Net income attributable to noncontrolling interests	60	47	239	132
Income from continuing operations attributable to Whitestone REIT excluding amounts attributable to unvested restricted shares	3,915	2,899	15,331	7,640
Net income from discontinued operations	0	0	0	1,833
Less: Net income attributable to noncontrolling interests	0	0	0	(33)
Income from discontinued operations attributable to Whitestone REIT	0	0	0	1,800
Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares	$ 3,915	$ 2,899	$ 15,331	$ 9,440
Weighted average number of common shares - basic (in shares)	49,274	46,883	49,211	44,268
Unvested restricted shares (in shares)	855	942	705	840
Weighted average number of common shares - dilutive (in shares)	50,129	47,825	49,916	45,108
Income from continuing operations attributable to Whitestone REIT excluding amounts attributable to unvested restricted shares (in dollars per share)	$ 0.08	$ 0.06	$ 0.31	$ 0.17
Income from discontinued operations attributable to Whitestone REIT (in dollars per share)	0	0	0	0.04
Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares (in dollars per share)	0.08	0.06	0.31	0.21
Income from continuing operations attributable to Whitestone REIT excluding amounts attributable to unvested restricted shares (in dollars per share)	0.08	0.06	0.31	0.17
Income from discontinued operations attributable to Whitestone REIT (in dollars per share)	0	0	0	0.04
Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares (in dollars per share)	$ 0.08	$ 0.06	$ 0.31	$ 0.21

Note 10 - Income Taxes (Details

Note 10 - Income Taxes (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Applicable Tax Rate Used to Determine State Margin Tax	0.75%		0.75%
Margin Tax Provision Recognized	$ 114,000	$ 99,000	$ 315,000	$ 273,000

Note 11 - Equity (Details Textu

Note 11 - Equity (Details Textual)	3 Months Ended		9 Months Ended
	Sep. 30, 2022 $ / shares shares	Sep. 30, 2021 USD ($) shares	Sep. 30, 2022 $ / shares shares	Sep. 30, 2021 USD ($) shares	Sep. 09, 2022 USD ($)	May 20, 2022 USD ($)	Dec. 31, 2021 $ / shares shares
Common Stock, Shares Authorized (in shares)	400,000,000		400,000,000				400,000,000
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares	$ 0.001		$ 0.001				$ 0.001
Preferred Stock, Shares Authorized (in shares)	50,000,000		50,000,000				50,000,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares	$ 0.001		$ 0.001				$ 0.001
Issuance and Sale of Securities, Maximum | $						$ 500,000,000
Conversion Ratio for Class Common Stock to OP Unit (in dollars per share) | $ / shares	$ 1		$ 1
Conversion of OP Units to Common Stock [Member]
Conversion of Stock, Shares Converted (in shares)	74,872	0	75,825	0
OP Units [Member]
Units of Partnership Interest, Amount (in shares)	49,956,634		49,956,634				49,793,803
General Partners' Capital Account, Units Outstanding (in shares)	49,261,969		49,261,969				49,023,313
Operating Partnership [Member]
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest			98.60%
Weighted-Average Share Ownership	98.50%	98.40%	98.50%	98.30%
The 2019 Equity Distribution Agreements [Member]
Number of Equity Distribution Agreements					11
Equity Distribution Agreements, Authorized Amount | $		$ 100,000,000		$ 100,000,000	$ 100,000,000
Stock Issued During Period, Shares, New Issues (in shares)	0	2,991,168	0	6,016,148
Proceeds from Debt, Net of Issuance Costs | $		$ 28,000,000		$ 53,300,000
Deferred Compensation Arrangement with Individual, Distribution Paid | $		$ 426,000		$ 812,000

Note 11 - Equity - Cash Distrib

Note 11 - Equity - Cash Distributions Paid or Payable (Details) - Cash Distribution [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended							9 Months Ended	12 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Dec. 31, 2021
Amount Paid	$ 5,989	$ 5,972	$ 5,351	$ 5,340	$ 5,064	$ 4,685	$ 4,562	$ 17,312	$ 19,651
Common Stock [Member]
Distributions Per Common Share (in dollars per share)	$ 0.1200	$ 0.1200	$ 0.1075	$ 0.1075	$ 0.1075	$ 0.1075	$ 0.1058	$ 0.3475	$ 0.4283
Amount Paid	$ 5,901	$ 5,880	$ 5,268	$ 5,257	$ 4,981	$ 4,602	$ 4,480	$ 17,049	$ 19,320
OP Units [Member]
Distributions Per Common Share (in dollars per share)	$ 0.1200	$ 0.1200	$ 0.1075	$ 0.1075	$ 0.1075	$ 0.1075	$ 0.1058	$ 0.3475	$ 0.4283
Amount Paid	$ 88	$ 92	$ 83	$ 83	$ 83	$ 83	$ 82	$ 263	$ 331

Note 12 - Incentive Share Pla_2

Note 12 - Incentive Share Plan (Details Textual) - USD ($)															3 Months Ended		9 Months Ended		12 Months Ended		15 Months Ended
	Mar. 28, 2022	Dec. 31, 2021	Dec. 13, 2021	Sep. 30, 2021	Jul. 31, 2021	Jun. 30, 2021	Mar. 17, 2021	Jan. 01, 2021	Jul. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Dec. 01, 2018	Mar. 16, 2018	Sep. 06, 2017	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2023	Dec. 31, 2022	May 11, 2017
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			29,825														325,112		904,215	1,108,014
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)			$ 9.32														$ 11.84		$ 5.99	$ 5.76
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares)			29,825														205,281		1,024,808	511,621
Share-Based Payment Arrangement, Expense															$ 943,000	$ 1,563,000	$ 455,000	$ 4,275,000
Incremental Common Shares Attributable to Dilutive Effect of Share-Based Payment Arrangements (in shares)															855,000	942,000	705,000	840,000
Forecast [Member]
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total																					$ 4,800,000	$ 1,400,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Month)																					27 months
Time-based Restricted Common Share Units [Member]
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total															$ 3,000,000		$ 3,000,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Month)																	33 months
Market Based Vesting TSR Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)																	33 months
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total															$ 2,700,000		$ 2,700,000
Market Based Vesting TSR Units [Member] | Issued 2020 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage Awarded Based on Ranking															0%		0%
Market Based Vesting TSR Units [Member] | Issued 2021 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage Awarded Based on Ranking															50%		50%
Market Based Vesting TSR Units [Member] | Issued 2022 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage Awarded Based on Ranking															200%		200%
Restricted Common Shares and Restricted Share Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)																	33 months
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage																	100%
The 2018 Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares)																							3,433,831
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares)		2,716,132													1,499,445		1,499,445		2,716,132
The 2018 Plan [Member] | Time-based Restricted Common Share Units [Member] | Share-Based Payment Arrangement, Employee [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	162,556			5,500		433,200			530,000		317,184
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)	$ 9.94			$ 9.06	$ 5.83	$ 7.51				$ 11.69	$ 10.63
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)	3 years			3 years	3 years	3 years					3 years
The 2018 Plan [Member] | Market Based Vesting TSR Units [Member] | Share-Based Payment Arrangement, Employee [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	162,556					433,200			545,000	17,069	405,417	229,684
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)	$ 13.74				$ 5.55	$ 4.17				$ 8.22		$ 14.89
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)					3 years	3 years				3 years		3 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage Awarded Based on Ranking		0%						50%											0%
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares)		385,648						208,210
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures, Total (in shares)		0						104,105
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Options to be Converted to Cash (in shares)						111,465
The 2018 Plan [Member] | Market Based Vesting TSR Units [Member] | Share-Based Payment Arrangement, Employee [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage Awarded Based on Ranking	0%					0%			0%	0%		0%
The 2018 Plan [Member] | Market Based Vesting TSR Units [Member] | Share-Based Payment Arrangement, Employee [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage Awarded Based on Ranking	200%					200%			200%	200%		200%
The 2018 Plan [Member] | Common Share Units [Member] | Share-Based Payment Arrangement, Employee [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)							2,490
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)							$ 10.04
The 2008 Plan [Member] | Performance-based Restricted Common Share Units [Member] | Share-Based Payment Arrangement, Employee [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)													4,300
The 2008 Plan [Member] | Performance-based Restricted Common Share Units [Member] | Immediate Vesting Upon Change in Control [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)														965,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)														$ 13.05
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares)															455,000		455,000
Incremental Common Shares Attributable to Dilutive Effect of Share-Based Payment Arrangements (in shares)																	0
The 2008 Plan [Member] | Time-based Restricted Common Share Units [Member] | Share-Based Payment Arrangement, Employee [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)													387,499
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)													3 years

Note 12 - Incentive Share Pla_3

Note 12 - Incentive Share Plan - Summary of Share-based Incentive Plan Activity (Details) - The 2018 Plan [Member]	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Non-vested, shares (in shares)	2,716,132
Non-vested, weighted average grant date fair value (in dollars per share) | $ / shares	$ 8.32
Granted, shares (in shares)	325,112
Granted, weighted average grant date fair value (in dollars per share) | $ / shares	$ 11.84
Vested, shares (in shares)	(205,281)
Vested, weighted average grant date fair value (in dollars per share) | $ / shares	$ 7.46
Forfeited, shares (in shares)	(1,336,518)
Forfeited, weighted average grant date fair value (in dollars per share) | $ / shares	$ 8.30
Non-vested, shares (in shares)	1,499,445
Non-vested, weighted average grant date fair value (in dollars per share) | $ / shares	$ 9.22
Available for grant, shares (in shares)	1,226,469

Note 12 - Incentive Share Pla_4

Note 12 - Incentive Share Plan - Summary of Non-vested and Vested Shares Activity (Details) - USD ($) $ / shares in Units, $ in Thousands		9 Months Ended	12 Months Ended
	Dec. 13, 2021	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Non-Vested Shares Issued (in shares)	29,825	325,112	904,215	1,108,014
Weighted Average Grant- Date Fair Value (in dollars per share)	$ 9.32	$ 11.84	$ 5.99	$ 5.76
Vested Shares (in shares)	(29,825)	(205,281)	(1,024,808)	(511,621)
Total Vest-Date Fair Value		$ 1,531	$ 9,757	$ 5,566

Note 13 - Grants to Trustees (D

Note 13 - Grants to Trustees (Details Textual)		9 Months Ended	12 Months Ended
	Dec. 13, 2021 $ / shares shares	Sep. 30, 2022 $ / shares shares	Dec. 31, 2021 $ / shares shares	Dec. 31, 2020 $ / shares shares
Number of Independent Trustees	5
Number of Trustee Emeritus	1
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares)	29,825	205,281	1,024,808	511,621
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	29,825	325,112	904,215	1,108,014
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 9.32	$ 11.84	$ 5.99	$ 5.76

Note 15 - Real Estate (Details

Note 15 - Real Estate (Details Textual) $ in Millions	Dec. 01, 2021 USD ($) a	Jul. 08, 2021 USD ($) a
Anderson Arbor [Member]
Payments to Acquire Productive Assets, Total | $	$ 28.1
Area of Real Estate Property (Square Foot) | a	89,746
Asset Acquisition Percent of Property Leased	89%
Lakeside Market [Member]
Payments to Acquire Productive Assets, Total | $		$ 53.2
Area of Real Estate Property (Square Foot) | a		162,649
Asset Acquisition Percent of Property Leased		80.50%

Note 16 - Related Party Trans_3

Note 16 - Related Party Transactions (Details Textual) - Beneficial Owner [Member] - Pillarstone REIT [Member]	Jan. 18, 2022
Chief Executive Officer [Member]
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage	66.70%
Chief Operating Officer [Member]
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage	20%

Note 16 - Related Party Trans_4

Note 16 - Related Party Transactions - Related Party Transactions (Details) - Pillarstone OP [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Operating and Maintenance [Member] | Rent [Member]
Rent	$ (105)	$ (225)	$ (471)	$ (672)
Management, Transaction, and Other Fees [Member] | Property Management Fee Income [Member]
Property management fee income	$ 75	$ 142	$ 359	$ 426

Note 17 - Commitments and Con_2

Note 17 - Commitments and Contingencies (Details Textual) $ / shares in Units, $ in Millions	Sep. 16, 2022 USD ($)	Feb. 23, 2022 USD ($)	Dec. 26, 2021 $ / shares
Pillarstone OP [Member]
Common Stock Rights Agreement, Preferred Purchase Rights Issued Per Share (in dollars per share) | $ / shares			$ 1
Preferred Share Purchase Rights, Exercisable, Percentage of Common Share by Certain Holders			5%
Common Stock Rights Agreement, Purchase Price Multiplier			2
Pillarstone OP [Member] | Series D Preferred Stock [Member]
Preferred Share Purchase Rights, Conversion Ratio to Preferred Share			0.001
Common Stock Rights Agreement, Purchase Price Per Unit (in dollars per share) | $ / shares			$ 7
Litigation between the Company and Pillarstone REIT [Member] | Pending Litigation [Member]
Loss Contingency, Damages Sought, Value | $	$ 1,000,000
Mastandrea V Whitestone R E I T And Certain Company Trustees [Member] | Pending Litigation [Member]
Loss Contingency, Damages Sought, Value | $		$ 25

Note 18 - Subsequent Events (De

Note 18 - Subsequent Events (Details Textual) - Subsequent Event [Member] $ in Millions	Oct. 31, 2022 USD ($)	Nov. 04, 2022
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Bissonnet/Beltway in Houston, Texas [Member]
Proceeds from Sale of Productive Assets, Total	$ 5.4
Discontinued Operations, Held-for-sale [Member]
Number of Real Estate Properties		3
Number of Pad Sites		1