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Wheeler Real Estate Investment Trust, Inc.

WHLR NASDAQ Categories PDF
Real Estate · REIT - Retail · United States · Updated May 11, 1:58pm
$1.09
Price
$74,352
Market Cap
56
Employees
1.12
Beta
Michael Andrew Franklin
CEO
Business Description

Headquartered in Virginia Beach, Virginia, Wheeler Real Estate Investment Trust, Inc. (Nasdaq: WHLR) is a fully integrated, self-managed commercial real estate investment company focused on owning, leasing and operating income-producing retail properties with a primary focus on grocery-anchored centers. WHLR's portfolio contains well-located, potentially dominant retail properties in secondary and tertiary markets that generate attractive, risk adjusted returns. WHLR's common stock, Series B convertible preferred stock ("Series B Preferred Stock" and, together with the Series D Preferred Stock, the "Preferred Stock"), Series D Preferred Stock, and Convertible Notes trade publicly on Nasdaq under the symbols "WHLR", "WHLRP", "WHLRD", and "WHLRL", respectively.

Business History
Price Overview
Last updated: May 11, 2026 1:58pm (just now)
$1.09
-0.05 (-4.39%)
Day Range
$1.06 – $1.14
52-Week Range
$1.03 – $904.50
50-Day MA
$3.07
200-Day MA
$65.52
Volume
103,547.54
Share Structure
Outstanding 68,219.00
Float 62,296.00
Free Float 91.3%
High free float — 91.3% of shares trade freely, ~8.7% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Small absolute float (0.1M shares) — even with a decent free float %, volume can be thin. Check average daily volume before sizing a position.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
Period Revenue Net Income Net Margin YoY/QoQ
Key Metrics
API Direct from provider CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
API
Stock Price / EPS (Diluted)
0.67
Stock Price: $1.09
EPS (Diluted): -36.01
P/B Ratio (Price vs net asset value)
API
Stock Price / Book Value Per Share
0.26
Stock Price: $1.09
Total Equity: $63.44M
Shares: 106,902,000
EV/EBITDA (Total value vs operating profit)
API
Enterprise Value / EBITDA
6.74
Market Cap: $74,352
Total Debt: $468.87M
Cash: $23.66M
EBITDA: $71.57M
Enterprise Value (Takeover price (cap + debt - cash))
API
Market Cap + Total Debt - Cash
$476.4M
Market Cap: $74,352
Total Debt: $468.87M
Cash: $23.66M
Gross Margin (Revenue left after direct costs)
API
Gross Profit / Revenue
66.8%
Gross Profit: $21.44M
Revenue: $100.37M
Operating Margin (Revenue left after all operations)
API
Operating Income / Revenue
31.9%
Operating Income: $36.49M
Revenue: $100.37M
Net Margin (Revenue left as actual profit)
API
Net Income / Revenue
8.8%
Net Income: $8.77M
Revenue: $100.37M
ROE (Profit from shareholder equity)
API
Net Income / Total Equity
9.7%
Net Income: $8.77M
Total Equity: $63.44M
ROIC (Profit from all invested capital)
API
NOPAT / Invested Capital
48.6%
Operating Income: $36.49M
Tax Rate: -0.2%
Equity: $63.44M
Total Debt: $468.87M
Cash: $23.66M
Current Ratio (Can it pay short-term bills)
API
Current Assets / Current Liabilities
8.91
Current Assets: $63.82M
Current Liabilities: $7.16M
Debt/Equity (Leverage — debt vs equity)
CALC
Total Debt / Total Equity
7.39
Short-Term Debt: $7.16M
Long-Term Debt: $461.71M
Total Debt: $468.87M
Total Equity: $63.44M
Rev/Share (Top-line per share)
CALC
Revenue / Shares Outstanding
$0.94
Revenue: $100.37M
Shares: 106,902,000
Book Value/Share (Net assets per share)
CALC
(Total Assets - Total Liabilities) / Shares
$0.59
Total Equity: $63.44M
Shares: 106,902,000
FCF/Share (Real cash generated per share)
CALC
(Operating Cash Flow + CapEx) / Shares
$0.04
Operating CF: $21.13M
CapEx: -$17.11M
Shares: 106,902,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
API
Last Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $1.09
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $8.77M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares WHLR against LLM-researched typical ranges for its industry. One research call per industry, cached indefinitely — every stock in the same industry reuses the same baseline.
Deep Analysis

Pre-flight intelligence scans the company first, then routes to the right analytical methods.

0 Company Classification — What type of company is this?
1 Industry Landscape — Where is the industry headed?
2 Company Momentum — Where is this company trending?
3 Forward Projection — 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a DCF Valuation — Present value of future cash flows
4b Earnings Power Value — Floor value — worth with zero growth
4c Anchored PE — Industry PE adjusted for growth differential
4d Reverse DCF — What growth is the market pricing in?
4e Revenue-Based DCF — For growth/narrative companies (skip if mature earner)
4f Anchored P/S — Price-to-Sales peer comparison (skip if mature earner)
4g Scenario Analysis — Bull / Base / Bear (skip if mature earner)
4h Dividend Discount Model — For dividend/income stocks only
4i Book Value Analysis — For deep value / turnaround stocks only
4j Insider Activity — Are insiders buying or selling?
4f Cash Flow Quality — How trustworthy is the FCF?
4g Debt Maturity Risk — Can it handle its debt?
4h Macro Environment — Rates, market valuation, volatility
4i Sector Intelligence — How does this company compare within its sector?
4j Revenue Confidence — How reliable is the growth projection?
4k Sensitivity Analysis — How fragile is the fair value estimate?
4l Sector Demand Cycle — Is the sector in a boom, steady state, or contraction?
5 AI Investigation — Adaptive research engine (Claude)
5b Thesis Evaluation — What does the market believe? (narrative/platform stocks only)
6 Valuation Synthesis — Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Metric 2021 2022 2023 2024 2025
Revenue $61.3M $76.6M $102.3M $104.6M $100.4M
Cost of Revenue $19.6M $25.7M $34.9M $35.1M $78.9M
Gross Profit $41.7M $50.9M $67.5M $69.5M $21.4M
Operating Expenses $22.2M $26.3M $38.0M $31.9M -$15.1M
Operating Income $19.5M $24.6M $29.4M $37.5M $36.5M
Net Income -$9.4M -$12.5M -$4.7M -$9.6M $8.8M
EBITDA $38.5M $32.5M $62.3M $55.6M $71.6M
EPS $-2,964,179.10 $-4,744,852.95 $-117,449.10 $-166,425.00 $-36.01
EPS (Diluted) — — — — —
Balance Sheet (Annual)
Metric 2021 2022 2023 2024 2025
Cash & Equivalents $22.9M $28.5M $18.4M $43.0M $23.7M
Total Current Assets $51.7M $69.4M $52.9M $75.4M $63.8M
Total Assets $465.3M $684.5M $668.3M $653.7M $601.7M
Current Liabilities $17.8M $42.4M $34.9M $28.3M $7.2M
Long-Term Debt $333.3M $466.0M $477.6M $476.7M $461.7M
Total Liabilities $368.9M $532.0M $526.8M $537.0M $507.0M
Total Equity $94.4M $86.4M $75.4M $59.3M $63.4M
Retained Earnings -$274.1M -$295.6M -$324.9M -$347.0M -$350.9M
Cash Flow (Annual)
Metric 2021 2022 2023 2024 2025
Operating Cash Flow $17.0M $30.8M $20.9M $26.0M $21.1M
Capital Expenditure -$6.4M -$8.5M -$20.0M -$22.5M -$17.1M
Free Cash Flow $10.6M $22.2M $913,000 $3.5M $4.0M
Acquisitions (net) $0 $0 $0 -$11.5M $0
Debt Repayment — — — — —
Dividends Paid — — — — —
Stock Buybacks -$8.3M $0 $0 $0 $0
Net Change in Cash -$2.3M $15.4M -$16.1M $20.9M -$12.1M
Analyst Estimates (Annual)
Metric 2025 2026 2027 2028
Revenue $43.1M
$43.1M – $43.1M
 $44.1M
$44.1M – $44.1M
 $63.6M
$63.6M – $63.6M
 $63.7M
$63.7M – $63.7M
EBITDA $33.2M
$33.2M – $33.2M
 $34.0M
$34.0M – $34.0M
 $49.0M
$49.0M – $49.0M
 $49.1M
$49.1M – $49.1M
Net Income -$1.2T
-$1.2T – -$1.2T
 -$1.3T
-$1.3T – -$1.3T
 -$1.6T
-$1.6T – -$1.6T
 $0
EPS — — — —
Growth Trends (YoY %)
Metric 2022 2023 2024 2025
Revenue Growth +25.0% +33.5% +2.2% -4.0%
Gross Profit Growth +22.1% +32.5% +3.0% -69.1%
Operating Income Growth +26.1% +19.6% +27.6% -2.8%
Net Income Growth -31.9% +62.4% -104.3% +191.6%
EBITDA Growth -15.7% +92.0% -10.7% +28.6%
Insider Trading (Recent)
Date Insider Type Shares Price Value
2026-04-15 Magnetar Financial LLC S-Sale 3,127.00 $0.80 $2,488
2026-04-10 Magnetar Financial LLC S-Sale 1,413.00 $0.83 $1,178
2026-04-13 Magnetar Financial LLC S-Sale 87,177.00 $0.86 $74,615
2026-04-14 Magnetar Financial LLC S-Sale 4,910.00 $0.77 $3,760
2026-04-07 Magnetar Financial LLC S-Sale 6,774.00 $0.85 $5,786
2026-04-08 Magnetar Financial LLC S-Sale 6,234.00 $0.86 $5,331
2026-04-09 Magnetar Financial LLC S-Sale 12,346.00 $0.83 $10,221
2026-04-01 Magnetar Financial LLC S-Sale 3,332.00 $0.95 $3,154
2026-04-02 Magnetar Financial LLC S-Sale 13,253.00 $0.93 $12,301
2026-04-06 Magnetar Financial LLC S-Sale 6,503.00 $0.92 $6,005
2026-03-27 Magnetar Financial LLC S-Sale 3,685.00 $1.04 $3,823
2026-03-30 Magnetar Financial LLC S-Sale 2,103.00 $0.97 $2,045
2026-03-31 Magnetar Financial LLC S-Sale 12,378.00 $0.93 $11,516
2026-03-24 Magnetar Financial LLC X-InTheMoney 172,075.00 $0.01 $1,721
2026-03-26 Magnetar Financial LLC S-Sale 8,840.00 $1.10 $9,692
2026-03-24 Magnetar Financial LLC X-InTheMoney 172,075.00 $0.01 $1,721
2026-03-18 Stilwell Joseph S-Sale 13,470.00 $1,209,600,000.00 $16.3T
2026-03-18 Stilwell Joseph S-Sale 12,530.00 $1,209,600,000.00 $15.2T
2026-03-10 Campbell Kerry G. S-Sale 168.00 $512,870,400.00 $86.2B
2026-02-19 Magnetar Financial LLC 0.00 $0.00 $0
Dividend History (Last 20)
Date Dividend Declaration Record Payment
2018-03-28 $0.00 2017-04-10 2018-04-15
2017-12-27 $0.34 2017-12-14 2017-12-28 2018-01-15
2017-09-28 $0.34 2017-09-18 2017-09-29 2017-10-15
2017-06-28 $0.34 2017-02-27 2017-06-30 2017-07-15
2017-03-29 $0.02 2017-03-17 2017-03-31 2017-04-28
2017-02-24 $0.02 2017-02-16 2017-02-28 2017-03-31
2017-01-27 $0.02 2017-01-18 2017-01-31 2017-02-28
2016-12-28 $0.02 2016-12-20 2016-12-30 2017-01-31
2016-11-28 $0.02 2016-11-22 2016-11-30 2016-12-30
2016-10-27 $0.02 2016-10-18 2016-10-31 2016-11-30
2016-09-28 $0.02 2016-09-19 2016-09-30 2016-10-31
2016-08-29 $0.02 2016-08-18 2016-08-31 2016-09-30
2016-07-27 $0.02 2016-07-20 2016-07-31 2016-08-31
2016-06-28 $0.02 2016-06-17 2016-06-30 2016-07-31
2016-05-26 $0.02 2016-05-17 2016-05-31 2016-06-30
2016-04-27 $0.02 2016-04-18 2016-04-30 2016-05-31
2016-03-29 $0.02 2016-03-16 2016-03-31 2016-04-30
2016-02-25 $0.02 2016-02-17 2016-02-29 2016-03-31
2016-01-27 $0.02 2016-01-19 2016-01-31 2016-02-29
2015-12-29 $0.02 2015-12-15 2015-12-31 2016-01-31
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My Notes personal — only you see this
Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.193 · 1946f027 · 2026-05-08 18:57:27