Wheeler REIT Series B Preferred
Preferred shares tied to a grocery-anchored retail portfolio under active asset recycling.
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Profile
Owns and operates grocery-anchored and necessity-based retail centers across eastern U.S. secondary markets, collecting rent and tenant reimbursements. These Series B preferred shares are perpetual and convertible, with dividends payable only when authorized and declared, while the issuer markets a majority of its remaining properties for a potential portfolio sale.
Owns, leases and operates grocery-anchored shopping centers and other necessity-based retail properties, earning rental income and tenant reimbursements. The portfolio spans secondary and tertiary markets across the Mid-Atlantic, Southeast and Northeast, with space leased mainly to national and regional retailers selling everyday goods and services.
Handles leasing, property operations and asset recycling in-house. Recent dispositions reduced the portfolio, and management is marketing a majority of the remaining properties as a possible portfolio sale while continuing to manage occupancy and use disposition proceeds to reduce debt.
Represents the issuer’s Series B convertible preferred stock rather than common equity. The shares are perpetual, lack holder redemption rights and pay dividends only when authorized and declared. Cash generation depends on tenant performance, regional property conditions, financing access and continued REIT qualification.
Company facts
Key statistics
Year to date +74.6% · Average volume (30d) 1.9K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | — | $1.02 | — | — | $22.5M | — | 0.00% |
| May 4, 2026Q1 FY26 | — | −$14.55 | — | — | $24.3M | — | 0.00% |
| Mar 5, 2026Q4 FY25 | — | −$22.52 | — | — | $25.2M | — | +4.01% |
| Nov 5, 2025Q3 FY25 | — | $1.78 | — | — | $23.8M | — | −1.71% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $24.4M | $26.1M | $23.8M | $25.2M | $24.3M | $22.7M | |
| Gross profit | $15.4M | $18.4M | $16.0M | $16.6M | $5.4M | $5.7M | |
| Operating income | $12.1M | $15.0M | $8.0M | $7.5M | $4.3M | $14.8M | |
| Net income | $3.5M | −$2.4M | $11.5M | −$819.0K | −$2.4M | $8.6M | |
| Diluted EPS | −$70,605.00 | −$4,253.80 | $123.75 | −$360.55 | −$291.00 | $5.76 | |
| Gross margin | 63.3% | 70.3% | 67.2% | 66.0% | 22.4% | 24.9% | |
| Operating margin | 49.9% | 57.3% | 33.5% | 30.0% | 17.5% | 65.2% |
Fiscal years (4-quarter sums)FY21 $61.2M · FY22 $76.5M · FY23 $102.2M · FY24 $104.6M · FY25 $99.4M
Balance sheet, Jun 30, 2026Cash & short-term investments $61.8M · Total debt $466.2M · Total assets $593.4M · Shareholders' equity $76.2M
Dividends
Raised for 3 straight years. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 10, 2026 | $0.453 |
Ownership
Shares outstanding 821.8K · Float —
This issuer lists more than one class and the share count spans them all, so a stake here reads as a share of the whole company, not of this class.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % of company | Form | Filed |
|---|---|---|---|---|
| HRT Financial LP · 10 percent owner | 95.4K | 11.61% | Form 4 | Jul 9, 2026 |
| Joseph Stilwell · director, 10 percent owner: | 87.8K | 10.69% | Form 4 | Nov 7, 2025 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jul 8, 2026 | HRT Financial LP | 10 percent owner | −66,584 | $0.4900 |
| Jul 7, 2026 | HRT Financial LP | 10 percent owner | +40,591 | $0.6050 |
| Jul 2, 2026 | HRT Financial LP | 10 percent owner | +17,348 | $1.39 |
| Jul 6, 2026 | HRT Financial LP | 10 percent owner | +21,703 | $0.0814 |
| Jun 30, 2026 | HRT Financial LP | 10 percent owner | +24,997 | $1.38 |
Peers
Not reported.