v3.19.2
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
REVENUE:        
Rental revenues $ 15,391 $ 15,711 $ 31,161 $ 31,532
Asset management fees 13 47 26 172
Total Revenue 15,532 16,941 31,527 33,234
OPERATING EXPENSES:        
Property operations 4,595 4,518 9,321 9,117
Non-REIT management and leasing services 1 0 24 36
Depreciation and amortization 5,287 7,422 11,103 14,898
Impairment of notes receivable 5,000 0 5,000 0
Impairment of assets held for sale 1,147 0 1,147 0
Corporate general & administrative 1,380 2,268 3,194 4,776
Total Operating Expenses 17,410 14,208 29,789 28,827
(Loss) gain on disposal of properties (331) 0 1,508 1,055
Operating (Loss) Income (2,209) 2,733 3,246 5,462
Interest income 0 1 1 2
Interest expense (4,947) (5,180) (9,740) (9,757)
Net Loss from Continuing Operations Before Income Taxes (7,156) (2,446) (6,493) (4,293)
Income tax expense (7) (17) (15) (42)
Net Loss (7,163) (2,463) (6,508) (4,335)
Income from Discontinued Operations 0 903 0 903
Net Loss (7,163) (1,560) (6,508) (3,432)
Less: Net loss attributable to noncontrolling interests (112) (35) (99) (82)
Net Loss Attributable to Wheeler REIT (7,051) (1,525) (6,409) (3,350)
Preferred Stock dividends - declared 0 (3,206) 0 (6,413)
Preferred Stock dividends - undeclared (3,658) 0 (7,315) 0
Net Loss Attributable to Wheeler REIT Common Shareholders $ (10,709) $ (4,731) $ (13,724) $ (9,763)
Loss per share from continuing operations (basic and diluted) (in dollars per share) $ (1.10) $ (0.61) $ (1.42) $ (1.18)
Income per share from discontinued operations (basic and diluted) (in dollars per share) 0.00 0.10 0.00 0.10
Earnings per share (basic and diluted) (in dollars per share) $ (1.10) $ (0.51) $ (1.42) $ (1.08)
Weighted-average number of shares:        
Basic and Diluted (in shares) 9,693,271 9,246,683 9,650,000 9,074,506
Commissions        
REVENUE:        
Non-lease revenues $ 5 $ 36 $ 47 $ 50
Other revenues        
REVENUE:        
Non-lease revenues $ 123 $ 1,147 $ 293 $ 1,480

Source