v3.19.3
Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
REVENUE:        
Rental revenues $ 15,385,000 $ 15,756,000 $ 46,546,000 $ 47,288,000
Asset management fees 16,000 48,000 42,000 220,000
Total Revenue 15,565,000 16,073,000 47,092,000 49,307,000
OPERATING EXPENSES:        
Property operations 4,967,000 4,687,000 14,288,000 13,804,000
Non-REIT management and leasing services 1,000 23,000 25,000 59,000
Depreciation and amortization 5,066,000 6,045,000 16,169,000 20,943,000
Impairment of notes receivable 0 0 5,000,000 0
Impairment of assets held for sale 400,000 0 1,547,000 0
Corporate general & administrative 1,349,000 1,703,000 4,543,000 6,479,000
Other operating expenses 0 250,000 0 250,000
Total Operating Expenses 11,783,000 12,708,000 41,572,000 41,535,000
(Loss) gain on disposal of properties (81,000) 1,257,000 1,427,000 2,312,000
Operating Income 3,701,000 4,622,000 6,947,000 10,084,000
Interest income 1,000 1,000 2,000 3,000
Interest expense (4,654,000) (5,183,000) (14,394,000) (14,940,000)
Net Loss from Continuing Operations Before Income Taxes (952,000) (560,000) (7,445,000) (4,853,000)
Income tax expense (8,000) (30,000) (23,000) (72,000)
Net Loss (960,000) (590,000) (7,468,000) (4,925,000)
Income from Discontinued Operations 0 0 0 903,000
Net Loss (960,000) (590,000) (7,468,000) (4,022,000)
Less: Net (loss) income attributable to noncontrolling interests (1,000) 12,000 (100,000) (70,000)
Net Loss Attributable to Wheeler REIT (959,000) (602,000) (7,368,000) (3,952,000)
Preferred Stock dividends - declared 0 (3,208,000) 0 (9,621,000)
Preferred Stock dividends - undeclared (3,657,000) 0 (10,972,000) 0
Net Loss Attributable to Wheeler REIT Common Shareholders $ (4,616,000) $ (3,810,000) $ (18,340,000) $ (13,573,000)
Loss per share from continuing operations (basic and diluted) (in dollars per share) $ (0.48) $ (0.41) $ (1.90) $ (1.58)
Income per share from discontinued operations (basic and diluted) (in dollars per share) 0.00 0.00 0.00 0.10
Earnings per share (basic and diluted) (in dollars per share) $ (0.48) $ (0.41) $ (1.90) $ (1.48)
Weighted-average number of shares:        
Basic and Diluted (in shares) 9,693,271 9,385,666 9,664,582 9,179,366
Commissions        
REVENUE:        
Non-lease revenues $ 18,000 $ 52,000 $ 65,000 $ 102,000
Other revenues        
REVENUE:        
Non-lease revenues $ 146,000 $ 217,000 $ 439,000 $ 1,697,000

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