Is Whitestone REIT overvalued or undervalued?

As of 31 October 2025, the valuation grade for Whitestone REIT has moved from attractive to very attractive. Based on the analysis of key ratios, the company appears to be undervalued, with a P/E ratio of 40, a Price to Book Value of 2.90, and an EV to EBITDA of 13.57. In comparison to peers, TPG RE Finance Trust, Inc. has a significantly lower P/E ratio of 11.75, while Gladstone Commercial Corp. has an EV to EBITDA of 6.05, highlighting Whitestone's relative valuation.
Despite a challenging year-to-date return of -11.50% compared to the S&P 500's 16.30%, the company's five-year return of 110.40% aligns closely with the benchmark's 109.18%, indicating strong long-term performance. Overall, Whitestone REIT's current valuation metrics suggest it is positioned favorably within its industry.