v3.20.2
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
REVENUE:        
Rental revenues $ 14,809 $ 15,391 $ 30,164 $ 31,161
Other revenues 360 141 579 366
Total Revenue 15,169 15,532 30,743 31,527
OPERATING EXPENSES:        
Property operations 4,573 4,595 9,296 9,321
Non-REIT management and leasing services 0 1 0 24
Depreciation and amortization 4,446 5,287 9,245 11,103
Impairment of notes receivable 0 5,000 0 5,000
Impairment of assets held for sale 0 1,147 600 1,147
Corporate general & administrative 1,615 1,380 3,487 3,194
Total Operating Expenses 10,634 17,410 22,628 29,789
(Loss) gain on disposal of properties 0 (331) (26) 1,508
Operating Income (Loss) 4,535 (2,209) 8,089 3,246
Interest income 0 0 1 1
Interest expense (4,273) (4,947) (8,673) (9,740)
Other expense 0 0 (1,024) 0
Net Income (Loss) Before Income Taxes 262 (7,156) (1,607) (6,493)
Income tax benefit (expense) 6 (7) (2) (15)
Net Income (Loss) 268 (7,163) (1,609) (6,508)
Less: Net income (loss) attributable to noncontrolling interests 14 (112) 5 (99)
Net Income (Loss) Attributable to Wheeler REIT 254 (7,051) (1,614) (6,409)
Preferred Stock dividends - undeclared (3,657) (3,658) (7,314) (7,315)
Net Loss Attributable to Wheeler REIT Common Shareholders $ (3,403) $ (10,709) $ (8,928) $ (13,724)
Basic and Diluted (in dollars per share) $ (0.35) $ (1.10) $ (0.92) $ (1.42)
Weighted-average number of shares:        
Basic and Diluted (in shares) 9,695,651 9,693,271 9,694,967 9,650,000

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