Welcome to our dedicated page for Wheeler Real Estate Investment Trust news (Ticker: WHLR), a resource for investors and traders seeking the latest updates and insights on Wheeler Real Estate Investment Trust stock.
Wheeler Real Estate Investment Trust, Inc. (WHLR), headquartered in Virginia Beach, Virginia, is a self-managed commercial real estate investment trust (REIT) that specializes in income-producing retail properties. The company's core focus is on owning and operating grocery-anchored centers, making it a significant player in the retail sector. Established with the primary objective of acquiring, financing, developing, leasing, owning, and managing income-producing assets, Wheeler's portfolio includes strip centers, neighborhood centers, community centers, and free-standing retail properties.
Wheeler's properties are strategically located in the Mid-Atlantic, Southeast, and Southwest regions of the United States, and are typically leased by well-known national and regional retailers such as Food Lion, CVS, and TJ Maxx. Some notable properties in Wheeler's portfolio include Alex City Marketplace in Alabama, Bryan Station in Kentucky, Cardinal Plaza in North Carolina, Clover Plaza in South Carolina, and Winslow Plaza in New Jersey.
Recent Achievements:
- On September 7, 2023, Wheeler posted redemption forms for its Series D Preferred Stock on its website, allowing holders to request redemptions starting in October 2023.
- On October 18, 2023, simplified versions of the Holder Redemption Notice and Stock Ownership Statement were made available based on shareholder feedback.
- The company reported its financial and operating results for the three and nine months ended September 30, 2023, on November 7, 2023, with supplemental information accessible on its Investor Relations website.
- On November 14, 2023, Wheeler announced that due to a significant decline in its common stock price, it might settle future Series D Preferred Stock redemptions with unregistered shares of common stock or delay delivery of registered common stock.
- Wheeler considered calling a special meeting of stockholders to authorize additional reverse stock splits as announced on November 16, 2023.
- The company reported its financial and operating results for the year ended December 31, 2023, on Form 10-K on March 5, 2024.
- On May 6, 2024, Wheeler released its financial and operating results for Q1 2024, with details available on their Investor Relations website.
Wheeler's financial condition has been closely monitored, especially given the fluctuating stock prices and the redemptions of Series D Preferred Stock. The company continues to navigate these challenges while maintaining its focus on managing and expanding its portfolio of grocery-anchored retail properties.
Wheeler Real Estate Investment Trust (WHLR) announced its financial results for the year ended December 31, 2022, highlighting key metrics in its Form 10-K. The Company focuses on owning and operating income-producing retail properties, particularly grocery-anchored centers. The full financial results and supplemental information are available on WHLR's Investor Relations page. Investors can access these details to evaluate the Company’s performance over the past year.
Wheeler Real Estate Investment Trust (NASDAQ:WHLR) announced the expiration of its Exchange Offer for the Series D Cumulative Convertible Preferred Stock on January 20, 2023. Despite attempts to amend the charter terms, only 864,391 shares (26.8% of total outstanding shares) were tendered. This fell short of the required 66.67% for the amendments to proceed, meaning the Series D Preferred Stock will remain unchanged. No shares will be exchanged for the subordinate convertible notes, and the company will incur no broker fees as the offer was not completed. Shares tendered will be returned without any payments made.
Wheeler Real Estate Investment Trust (NASDAQ:WHLR) announced revisions to its exchange offer for Series D Cumulative Convertible Preferred Stock. The company now offers 0.5 shares of common stock plus $16.00 in Exchange Notes for each validly tendered share. The Exchange Notes are convertible into common stock at a price of $12.50 per share. Wheeler aims to exchange up to 2,112,103 shares, representing 67% of outstanding Series D stock. The offer expires on January 20, 2023. A soliciting broker fee of $0.10 per share will be paid if the exchange is completed.
Wheeler Real Estate Investment Trust (NASDAQ:WHLR) has extended its Exchange Offer for the Series D Cumulative Convertible Preferred Stock until January 6, 2023. As of December 22, 2022, 713,863 shares (22.14% of total outstanding) were tendered in the offer. This extension aims to provide additional time for preferred shareholders to participate in the exchange for 6.00% Subordinated Notes maturing in 2027. Detailed terms are available in the Prospectus filed with the SEC, and no offer is made until proper registration is complete.
Wheeler Real Estate Investment Trust (WHLR) announced its financial results for the third quarter and year-to-date ending September 30, 2022, via Form 10-Q. The company operates as a fully integrated REIT, mainly focusing on retail properties, particularly grocery-anchored centers. Supplemental financial information is available on their Investor Relations website. Investors can access detailed reports to review WHLR's performance metrics for a clearer understanding of the company's financial health.
Wheeler Real Estate Investment Trust (NASDAQ:WHLR) has completed its merger with Cedar Realty Trust (NYSE:CDR), finalizing a strategic sale process. The merger establishes Wheeler as the owner of all outstanding shares of Cedar's common stock, which will no longer be publicly traded. Shareholders will receive $9.48 per share in cash, in addition to a special dividend of $19.52 per share declared prior to the merger. Cedar’s preferred stocks remain publicly traded. This merger is expected to enhance Wheeler’s portfolio in the retail sector.
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