v3.26.1
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
REVENUE:    
Rental revenues $ 23,878 $ 24,181
Other revenues 129 173
Total Revenue 24,007 24,354
OPERATING EXPENSES:    
Property operations 8,409 8,963
Depreciation and amortization 5,232 6,231
Corporate general & administrative 2,736 2,706
Total Operating Expenses 16,377 17,900
Gain on disposal of properties, net 2,557 5,688
Operating Income 10,187 12,142
Interest income 153 242
Interest expense (7,294) (8,093)
Net changes in fair value of derivative liabilities (3,370) (2,310)
Gain on preferred stock redemptions 179 818
Other expense (1,026) (400)
Net (Loss) Income Before Income Taxes (1,171) 2,399
Income tax expense 0 (26)
Net (Loss) Income (1,171) 2,373
Less: Net income attributable to noncontrolling interests 1,226 1,864
Net (Loss) Income Attributable to Wheeler REIT (2,397) 509
Preferred Stock dividends - undeclared (1,555) (1,878)
Deemed contribution related to issuance of Series D Preferred Stock 827 0
Deemed contribution related to preferred stock exchanges 495 3,027
Deemed distribution related to noncontrolling interests (2,636) (8,510)
Net Loss Attributable to Wheeler REIT Common Shareholders (5,266) (6,852)
Net Loss Attributable to Wheeler REIT Common Shareholders $ (5,266) $ (6,852)
Loss per share:    
Basic (in dollars per share) $ (14.55) $ (14,215.77)
Diluted (in dollars per share) $ (14.55) $ (14,215.77)
Weighted-average number of shares:    
Basic (in shares) 361,988 482
Diluted (in shares) 361,988 482

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