v3.25.1
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
REVENUE:    
Rental revenues $ 24,181 $ 25,695
Other revenues 173 177
Total Revenue 24,354 25,872
OPERATING EXPENSES:    
Property operations 8,937 9,050
Depreciation and amortization 6,231 6,598
Corporate general & administrative 2,732 2,746
Total Operating Expenses 17,900 18,394
Gain on disposal of properties, net 5,688 0
Operating Income 12,142 7,478
Interest income 242 63
Loss on investment securities, net 0 (106)
Interest expense (8,093) (7,405)
Net changes in fair value of derivative liabilities (2,310) (5,507)
Gain on Preferred Stock retirements 3,845 213
Other expense (400) (742)
Net Income (Loss) Before Income Taxes 5,426 (6,006)
Income tax expense (26) 0
Net Income (Loss) 5,400 (6,006)
Less: Net income attributable to noncontrolling interests 1,864 2,701
Net Income (Loss) Attributable to Wheeler REIT 3,536 (8,707)
Preferred stock dividends - undeclared (1,878) (2,042)
Deemed distribution related to repurchase of noncontrolling interests (8,510) 0
Net Loss Attributable to Wheeler REIT Common Shareholders (6,852) (10,749)
Net Loss Attributable to Wheeler REIT Common Shareholders $ (6,852) $ (10,749)
Loss per share:    
Basic (in dollars per share) $ (22.41) $ (2,459.16)
Diluted (in dollars per share) $ (22.41) $ (2,459.16)
Weighted-average number of shares:    
Basic (in shares) 305,692 4,371
Diluted (in shares) 305,692 4,371
COMPREHENSIVE INCOME:    
Net income (loss) $ 5,400 $ (6,006)
Unrealized holding gain on available for sale securities - related party 481 0
Total other comprehensive income 481 0
Comprehensive Income (Loss) Attributable to the Company $ 5,881 $ (6,006)

Source