Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.10.0.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
REVENUE:      
Rental revenues $ 50,952 $ 44,156 $ 33,165
Asset management fees 189 927 855
Total Revenue 65,709 58,535 44,160
OPERATING EXPENSES:      
Property operations 18,473 15,389 11,898
Non-REIT management and leasing services 75 927 1,567
Depreciation and amortization 27,094 26,231 20,637
Impairment of goodwill 5,486 0 0
Provision for credit losses 434 2,821 425
Impairment of notes receivable 1,739 5,261 0
Corporate general & administrative 8,228 7,364 9,924
Other operating expenses 250 0 0
Total Operating Expenses 61,779 57,993 44,451
Gain on disposal of properties 2,463 1,021 0
Operating Income (Loss) 6,393 1,563 (291)
Interest income 4 1,443 692
Interest expense (20,228) (17,165) (13,356)
Net Loss from Continuing Operations Before Income Taxes (13,831) (14,159) (12,955)
Income tax expense (40) (137) (107)
Net Loss from Continuing Operations (13,871) (14,296) (13,062)
Discontinued Operations      
(Loss) income from discontinued operations (3,938) 16 136
Gain on disposal of properties 903 1,502 688
Net (Loss) Income from Discontinued Operations (3,035) 1,518 824
Net Loss (16,906) (12,778) (12,238)
Less: Net loss attributable to noncontrolling interests (406) (684) (1,035)
Net Loss Attributable to Wheeler REIT (16,500) (12,094) (11,203)
Preferred Stock dividends - declared (9,790) (9,969) (4,713)
Preferred Stock dividends - undeclared (3,037) 0 0
Net Loss Attributable to Wheeler REIT Common Shareholders $ (29,327) $ (22,063) $ (15,916)
Loss per share:      
Loss per share from continuing operations (basic and diluted) (in dollars per share) $ (2.85) $ (2.70) $ (1.98)
(Loss) income per share from discontinued operations (in dollars per share) (0.32) 0.16 0.09
Total loss per share (in dollars per share) $ (3.17) $ (2.54) $ (1.89)
Weighted-average number of shares:      
Basic and Diluted (in shares) 9,256,234 8,654,240 8,420,374
Commissions      
REVENUE:      
Non-lease revenues $ 140 $ 899 $ 964
Tenant reimbursements      
REVENUE:      
Non-lease revenues 12,595 11,032 8,649
Development and other revenues      
REVENUE:      
Non-lease revenues $ 1,833 $ 1,521 $ 527