EX-12.1 2 exhibit121computationofrat.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1

Whitestone REIT
Calculation of Consolidated Ratio of Earnings to Fixed Charges
(dollars in thousands)

 
 
Year Ended December 31,
 
 
2017
 
2016
 
2015
 
2014
 
2013
Earnings
 
 
 
 
 
 
 
 
 
 
Income from continuing operations
 
$
8,866

 
$
8,128

 
$
6,854

 
$
5,349

 
$
3,621

Plus: Taxes
 
386

 
289

 
372

 
282

 
293

Plus: Fixed charges
 
24,530

 
20,189

 
15,122

 
10,672

 
10,089

   Total earnings
 
$
33,782

 
$
28,606

 
$
22,348

 
$
16,303

 
$
14,003

 
 
 
 
 
 
 
 
 
 
 
Fixed charges
 
 
 
 
 
 
 
 
 
 
Interest expense
 
$
22,808

 
$
18,311

 
$
13,804

 
$
9,680

 
$
8,929

Plus: Capitalized Interest
 
439

 
324

 
106

 
93

 
114

Plus: Amortization of deferred financing costs
 
1,283

 
1,554

 
1,212

 
899

 
1,046

   Total fixed charges
 
$
24,530

 
$
20,189

 
$
15,122

 
$
10,672

 
$
10,089

 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
1.38

 
1.42

 
1.48

 
1.53

 
1.39