Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

v3.5.0.2
Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
REVENUE:        
Rental revenues $ 8,590,439 $ 5,639,218 $ 23,787,801 $ 13,743,870
Asset management fees 163,092 132,335 623,340 465,817
Commissions 589,656 86,682 833,516 307,292
Tenant reimbursements and other revenues 2,567,491 1,371,311 6,887,918 3,864,879
Total Revenue 11,910,678 7,229,546 32,132,575 18,381,858
OPERATING EXPENSES:        
Property operations 3,026,594 2,117,237 8,498,715 5,519,195
Non-REIT management and leasing services 695,542 343,393 1,351,640 999,186
Depreciation and amortization 4,994,572 4,881,937 15,306,331 11,722,164
Provision for credit losses 31,330 112,580 196,311 214,316
Corporate general & administrative 1,495,521 4,851,980 6,290,460 10,615,200
Total Operating Expenses 10,243,559 12,307,127 31,643,457 29,070,061
Operating Income (Loss) 1,667,119 (5,077,581) 489,118 (10,688,203)
Interest Income, Operating 299,239 30,407 301,378 113,738
Interest expense (3,639,414) (2,328,476) (9,801,442) (6,450,461)
Net Loss from Continuing Operations (1,673,056) (7,375,650) (9,010,946) (17,024,926)
Income from discontinued operations 39,114 217,234 115,463 348,083
Gain on disposal of properties 805 0 688,824 0
Net Income from Discontinued Operations 39,919 217,234 804,287 348,083
Net Loss (1,633,137) (7,158,416) (8,206,659) (16,676,843)
Less: Net loss attributable to noncontrolling interests (121,892) (428,702) (767,679) (1,331,294)
Net Loss Attributable to Wheeler REIT (1,511,245) (6,729,714) (7,438,980) (15,345,549)
Preferred stock dividends (1,240,811) (2,279,907) (2,263,410) (13,116,232)
Deemed dividend related to beneficial conversion feature of preferred stock 0 (13,124,506) 0 (72,644,506)
Net Loss Attributable to Wheeler REIT Common Shareholders $ (2,752,056) $ (22,134,127) $ (9,702,390) $ (101,106,287)
Loss per share from continuing operations (basic and diluted): $ (0.04) $ (0.35) $ (0.15) $ (3.41)
Income per share from discontinued operations: 0.00 0.00 0.01 0.01
Loss per share, basic and diluted (in usd per share) $ (0.04) $ (0.35) $ (0.14) $ (3.40)
Weighted-average number of shares:        
Basic and Diluted (in shares) 67,899,504 63,262,408 67,155,184 29,757,718
Dividends declared per common share (in usd per share) $ 0.05 $ 0.05 $ 0.16 $ 0.18