Wheeler Real Estate Investment Trust Inc (WHLR)
NASDAQ:WHLR
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Wheeler Real Estate Investment
(NASDAQ:WHLR)
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Rating:44Neutral
Price Target:
$0.97
â–¼(-62.26% Downside)
Action:Reiterated
Date:05/09/26
The score is primarily constrained by high balance-sheet risk (negative equity in TTM) alongside a steep TTM revenue decline, while deeply bearish technicals reinforce weak near-term sentiment. Positive operating/FCF generation and capital-structure simplification provide some offset, but dilution-related corporate actions and limited valuation support keep the overall score low.
Positive Factors
Stable cash generation
Consistent operating cash flow and positive free cash flow across recent periods provide durable liquidity to fund property operations, maintenance and modest capex. This steady cash generation supports servicing obligations and operational resilience for several quarters even if revenue recovery is gradual.
Negative Factors
Negative equity & high leverage
Negative trailing equity and historically very high leverage materially elevate refinancing and solvency risk. This constrains financial flexibility, raises borrowing costs and limits the company’s ability to pursue acquisitions or absorb shocks, making capital structure a persistent long-term vulnerability.
Read all positive and negative factors
Positive Factors
Negative Factors
Stable cash generation
Consistent operating cash flow and positive free cash flow across recent periods provide durable liquidity to fund property operations, maintenance and modest capex. This steady cash generation supports servicing obligations and operational resilience for several quarters even if revenue recovery is gradual.
Read all positive factors
Wheeler Real Estate Investment (WHLR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.04M
Dividend YieldN/A
Average Volume (3M)121.66K
Price to Earnings (P/E)―
Beta (1Y)-7.35
Revenue Growth-4.01%
EPS Growth99.98%
CountryUS
Employees56
SectorReal Estate
Sector Strength53
IndustryREIT - Retail
Share Statistics
EPS (TTM)N/A
Shares Outstanding1,042,613
10 Day Avg. Volume93,624
30 Day Avg. Volume121,656
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)0.26
Price to Sales (P/S)0.16
P/FCF Ratio0.77
Enterprise Value/Market Cap427.50
Enterprise Value/Revenue4.48
Enterprise Value/Gross Profit7.90
Enterprise Value/Ebitda6.74
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Wheeler Real Estate Investment Business Overview & Revenue Model
Company 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 pro...
How the Company Makes Money
WHLR primarily makes money by collecting contractual rent and other property-level income from tenants leasing space in its shopping center portfolio. Key revenue streams typically include (1) base rent under long-term leases (often with periodic ...
Wheeler Real Estate Investment Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
28
Negative
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 99.41M | 99.44M | 104.57M | 102.33M | 76.64M | 61.31M |
| Gross Profit | 56.43M | 66.40M | 69.47M | 67.45M | 50.91M | 41.69M |
| EBITDA | 66.17M | 68.87M | 55.65M | 62.33M | 32.47M | 38.49M |
| Net Income | 5.86M | 8.77M | -9.58M | -4.69M | -12.45M | -9.44M |
Balance Sheet | ||||||
| Total Assets | 594.01M | 601.73M | 653.70M | 668.33M | 684.54M | 465.28M |
| Cash, Cash Equivalents and Short-Term Investments | 47.27M | 48.06M | 42.96M | 18.40M | 28.49M | 22.90M |
| Total Debt | 469.25M | 483.75M | 492.74M | 505.72M | 506.48M | 349.72M |
| Total Liabilities | 502.61M | 507.04M | 537.05M | 526.80M | 531.98M | 368.93M |
| Stockholders Equity | 63.02M | 63.44M | 59.26M | 75.41M | 86.36M | 94.41M |
Cash Flow | ||||||
| Free Cash Flow | 4.25M | 21.13M | 3.46M | 913.00K | 22.25M | 10.63M |
| Operating Cash Flow | 21.16M | 21.13M | 25.99M | 20.93M | 30.76M | 17.04M |
| Investing Cash Flow | 51.62M | 32.14M | 3.98M | -31.52M | -133.51M | 5.10M |
| Financing Cash Flow | -29.87M | -65.36M | -9.06M | -5.47M | 118.20M | -24.49M |
Wheeler Real Estate Investment Technical Analysis
Negative
2.57
Price Trends
2.47
Negative
6.87
Negative
53.69
Negative
Market Momentum
-0.48
Negative
22.93
Positive
10.46
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WHLR, the sentiment is Negative. The current price of 2.57 is above the 20-day moving average (MA) of 1.49, above the 50-day MA of 2.47, and below the 200-day MA of 53.69, indicating a bearish trend. The MACD of -0.48 indicates Negative momentum. The RSI at 22.93 is Positive, neither overbought nor oversold. The STOCH value of 10.46 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for WHLR.
Wheeler Real Estate Investment Risk Analysis
Wheeler Real Estate Investment disclosed 63 risk factors in its most recent earnings report. Wheeler Real Estate Investment reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Wheeler Real Estate Investment Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | $823.17M | 21.62 | 11.80% | 7.89% | 8.31% | -28.42% | |
66 Neutral | $1.43B | 6.24 | 49.14% | 6.79% | 10.29% | 160.54% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
57 Neutral | $313.97M | 32.01 | 0.27% | 7.01% | 19.95% | -181.87% | |
52 Neutral | $285.99M | 75.48 | 47.95% | ― | -67.13% | -68.06% | |
44 Neutral | $1.04M | -1.05 | 20.26% | ― | -4.01% | 99.98% | |
42 Neutral | $141.94M | -1.25 | -19.47% | ― | -5.08% | 49.80% |
* Real Estate Sector Average
WHLR
Wheeler Real Estate Investment
0.95
-780.25
-99.88%
SITC
SITE Centers
5.44
-0.63
-10.38%
BFS
Saul Centers
33.55
2.09
6.66%
SRG
Seritage
2.34
-0.60
-20.41%
PINE
Alpine Income Property Trust Inc
19.11
4.98
35.22%
CBL
CBL & Associates Properties
46.14
21.55
87.60%
Wheeler Real Estate Investment Corporate Events
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
Wheeler Real Estate Reports First Quarter 2026 Results
Neutral
May 8, 2026
Wheeler Real Estate Investment Trust, Inc. reported its financial and operating results for the quarter ended March 31, 2026, following the filing of its Form 10-Q with the SEC on May 8, 2026. The company also made additional supplemental financia...
Business Operations and StrategyPrivate Placements and Financing
Wheeler Real Estate Simplifies Capital Structure via Exchanges
Positive
May 6, 2026
On April 20, 2026, Wheeler Real Estate Investment Trust, Inc. exchanged 1,000 shares of its Series D Cumulative Convertible Preferred Stock and 2,000 shares of its Series B Convertible Preferred Stock held by an unaffiliated investor for 25,000 sh...
Business Operations and Strategy
Wheeler REIT Adjusts Conversion Price After May Redemptions
Neutral
May 6, 2026
Wheeler Real Estate Investment Trust, Inc. reported that May 2026 redemptions of its Series D Cumulative Convertible Preferred Stock triggered a further adjustment in the conversion price of its 7.00% Subordinated Convertible Notes due 2031 to app...
Business Operations and StrategyRegulatory Filings and Compliance
Wheeler Real Estate Announces Changes to Security Holder Rights
Neutral
Apr 13, 2026
Wheeler Real Estate Investment Trust disclosed information relevant to Item 3.03 of Form 8-K, indicating that there were developments affecting the rights of its security holders. The disclosure suggests that the company experienced or implemented...
Business Operations and StrategyPrivate Placements and Financing
Wheeler REIT Continues Series D Redemptions, Resets Conversion Price
Negative
Apr 7, 2026
On April 6, 2026, Wheeler Real Estate Investment Trust processed its 31st monthly holder redemption date for its Series D Cumulative Convertible Preferred Stock, handling five requests that redeemed 5,200 preferred shares at about $41.28 per share...
Business Operations and StrategyPrivate Placements and Financing
Wheeler Real Estate Issues Series D Preferred in Exchange
Neutral
Apr 6, 2026
On March 16, 2026, and April 1, 2026, Wheeler Real Estate Investment entered into subscription agreements with unaffiliated investors under which it issued a total of 146,666 shares of Series D Preferred Stock in exchange for 210,000 shares of Ced...
Business Operations and StrategyPrivate Placements and Financing
Wheeler REIT Simplifies Capital Structure After Warrant Exercise
Positive
Mar 26, 2026
Wheeler Real Estate Investment Trust, Inc., a REIT focused on income-producing retail properties such as grocery-anchored and necessity-based shopping centers, concentrates on leasing to everyday needs retailers to support consistent cash flows. I...
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
Wheeler Real Estate Announces CFO Exit and Governance Changes
Neutral
Mar 13, 2026
On March 10, 2026, Wheeler Real Estate Investment Trust, Inc. reported that its Chief Financial Officer would leave the company as of March 13, 2026, and that a search for a successor is underway. Effective March 14, 2026, the company appointed lo...
Business Operations and StrategyPrivate Placements and Financing
Wheeler REIT Adjusts Note Conversion, Processes Preferred Redemptions
Neutral
Mar 6, 2026
In March 2026, Wheeler Real Estate Investment Trust adjusted the conversion price of its 7.00% Subordinated Convertible Notes due 2031 to approximately $1.04 per share of common stock, after the lowest Series D Preferred Stock conversion into comm...
Financial DisclosuresRegulatory Filings and Compliance
Wheeler Real Estate Investment Releases 2025 Year-End Results
Neutral
Mar 5, 2026
On March 5, 2026, Wheeler Real Estate Investment Trust, Inc. reported its financial and operating results for the fourth quarter and full year ended December 31, 2025, through the filing of its Annual Report on Form 10-K with the Securities and Ex...
Business Operations and StrategyPrivate Placements and Financing
Wheeler Real Estate Executes Preferred-for-Common Stock Exchanges
Neutral
Mar 4, 2026
On February 26, 2026, Wheeler Real Estate Investment Trust, Inc. executed exchange transactions with an unaffiliated investor, issuing 60,000 shares of common stock in exchange for 2,000 shares of its Series D Cumulative Convertible Preferred Stoc...
Business Operations and StrategyExecutive/Board ChangesPrivate Placements and FinancingRegulatory Filings and Compliance
Wheeler REIT Amends Magnetar Warrants, Deepens Investor Ties
Neutral
Feb 20, 2026
On February 19, 2026, Wheeler Real Estate Investment Trust, Inc. amended and restated previously issued common stock purchase warrants held by certain Magnetar affiliates, making them exercisable at $0.01 per share for shares equal to 12% of the c...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.