v3.23.2
Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
REVENUE:        
Rental revenues $ 24,583,000 $ 15,324,000 $ 50,083,000 $ 30,656,000
Other revenues 257,000 155,000 823,000 320,000
Total Revenue 24,840,000 15,479,000 50,906,000 30,976,000
OPERATING EXPENSES:        
Property operations 8,342,000 4,732,000 17,297,000 9,982,000
Depreciation and amortization 7,301,000 3,625,000 14,767,000 7,241,000
Impairment of assets held for sale 0 100,000 0 760,000
Corporate general & administrative 2,818,000 1,673,000 5,889,000 2,937,000
Total Operating Expenses 18,461,000 10,130,000 37,953,000 20,920,000
Loss on disposal of properties 0 0 0 (15,000)
Operating Income 6,379,000 5,349,000 12,953,000 10,041,000
Interest income 126,000 14,000 173,000 27,000
Gain on investment securities, net 31,000 0 31,000 0
Interest expense (10,179,000) (7,501,000) (16,656,000) (12,129,000)
Net changes in fair value of derivative liabilities 3,030,000 2,085,000 4,882,000 (1,877,000)
Other expense (635,000) 0 (3,040,000) (691,000)
Net Loss Before Income Taxes (1,248,000) (53,000) (1,657,000) (4,629,000)
Income tax expense (46,000) 0 (46,000) 0
Net Loss (1,294,000) (53,000) (1,703,000) (4,629,000)
Less: Net income (loss) attributable to noncontrolling interests 2,676,000 (1,000) 5,368,000 3,000
Net Loss Attributable to Wheeler REIT (3,970,000) (52,000) (7,071,000) (4,632,000)
Preferred Stock dividends - undeclared (2,261,000) (2,264,000) (4,525,000) (4,528,000)
Net Loss Attributable to Wheeler REIT Common Stockholders $ (6,231,000) $ (2,316,000) $ (11,596,000) $ (9,160,000)
Loss per share:        
Basic (in dollars per share) $ (0.64) $ (0.24) $ (1.18) $ (0.94)
Diluted (in dollars per share) $ (0.64) $ (0.24) $ (1.18) $ (0.94)
Weighted average number of shares:        
Basic (in shares) 9,800,211 9,734,755 9,797,136 9,727,711
Diluted (in shares) 9,800,211 9,734,755 9,797,136 9,727,711

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