v3.22.2.2
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
REVENUE:        
Rental revenues $ 18,486 $ 15,000 $ 49,142 $ 44,946
Other revenues 232 508 552 780
Total Revenue 18,718 15,508 49,694 45,726
OPERATING EXPENSES:        
Property operations 6,655 5,029 16,637 14,573
Depreciation and amortization 4,981 3,678 12,222 11,033
Impairment of assets held for sale 0 0 760 2,200
Corporate general & administrative 2,498 1,756 5,434 4,945
Total Operating Expenses 14,134 10,463 35,053 32,751
(Loss) gain on disposal of properties 0 1,967 (15) 2,143
Operating Income 4,584 7,012 14,626 15,118
Interest income 15 9 42 9
Interest expense (6,949) (5,637) (19,079) (19,813)
Net changes in fair value of derivative liabilities (656) 1,884 (2,533) 303
Other income 0 0 0 552
Other expense 0 (185) (691) (185)
Net (Loss) Income Before Income Taxes (3,006) 3,083 (7,635) (4,016)
Income tax expense 0 0 0 (2)
Net (Loss) Income (3,006) 3,083 (7,635) (4,018)
Less: Net income attributable to noncontrolling interests 1,234 57 1,237 72
Net (Loss) Income Attributable to Wheeler REIT (4,240) 3,026 (8,872) (4,090)
Preferred Stock dividends - undeclared (2,264) (2,198) (6,792) (6,649)
Deemed contribution related to preferred stock redemption 0 0 0 5,040
Net (Loss) Income Attributable to Wheeler REIT Common Stockholders $ (6,504) $ 828 $ (15,664) $ (5,699)
(Loss) income per share:        
Basic (in dollars per share) $ (0.66) $ 0.09 $ (1.61) $ (0.59)
Diluted (in dollars per share) $ (0.66) $ 0.09 $ (1.61) $ (0.59)
Weighted-average number of shares:        
Basic (in shares) 9,792,815 9,713,125 9,749,651 9,708,588
Diluted (in shares) 9,792,815 9,713,125 9,749,651 9,708,588

Source