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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- Definition Amount of loans and leases that have been written off from both loan receivables and allowance reserve for credit loss. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Other operating costs incurred during the reporting period and may include amounts paid to maintain the property. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount after tax of gain (loss) not previously recognized resulting from the disposal of a discontinued operation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Per basic and diluted share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation, when the per share amount is the same. No definition available.
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- Definition The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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- Definition The difference between the carrying value and the sale price of real estate or properties that were intended to be sold or held for capital appreciation or rental income. This element refers to the gain (loss) included in earnings and not to the cash proceeds of the sale. This element is a noncash adjustment to net income when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount after tax of income (loss) from continuing operations attributable to the noncontrolling interest. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount after tax of income (loss) from continuing operations including portion attributable to the noncontrolling interest. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of net income (loss) from continuing operations per each basic and diluted share of common stock or unit when the per share amount is the same for both basic and diluted shares. No definition available.
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of operating interest income, including, but not limited to, amortization and accretion of premiums and discounts on securities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition Amount of operating lease income from lease payments paid and payable to lessor. Excludes variable lease payments not included in measurement of lease receivable. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The total amount of other operating cost and expense items that are associated with the entity's normal revenue producing operation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of preferred stock dividends that is an adjustment to net income apportioned to common stockholders. No definition available.
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of revenue derived from managing real estate properties. No definition available.
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- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Accretion of temporary equity during the period due to cash, stock, and in-kind dividends. This item is an adjustment to net income necessary to derive net income apportioned to common stockholders and is to be distinguished from Temporary Equity, Accretion of Dividends (Temporary Equity, Accretion of Dividends). No definition available.
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- Definition Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
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- Definition The aggregate costs of operating a property, including expenses associated with the grounds, landscaping, insurance, management and utilities. No definition available.
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- Details
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