Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

v3.20.2
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
REVENUE:        
Rental revenues $ 14,756 $ 15,385 $ 44,920 $ 46,546
Other revenues 208 180 787 546
Total Revenue 14,964 15,565 45,707 47,092
OPERATING EXPENSES:        
Property operations 4,820 4,967 14,116 14,288
Non-REIT management and leasing services 0 1 0 25
Depreciation and amortization 4,215 5,066 13,460 16,169
Impairment of notes receivable 0 0 0 5,000
Impairment of assets held for sale 0 400 600 1,547
Corporate general & administrative 1,080 1,349 4,567 4,543
Total Operating Expenses 10,115 11,783 32,743 41,572
(Loss) gain on disposal of properties 0 (81) (26) 1,427
Operating Income 4,849 3,701 12,938 6,947
Interest income 0 1 1 2
Interest expense (4,114) (4,654) (12,787) (14,394)
Other expense (15) 0 (1,039) 0
Net Income (Loss) Before Income Taxes 720 (952) (887) (7,445)
Income tax expense 0 (8) (2) (23)
Net Income (Loss) 720 (960) (889) (7,468)
Less: Net income (loss) attributable to noncontrolling interests 13 (1) 18 (100)
Net Income (Loss) Attributable to Wheeler REIT 707 (959) (907) (7,368)
Preferred Stock dividends - undeclared (3,608) (3,657) (10,922) (10,972)
Preferred Stock redemption discount 726 0 726 0
Net Loss Attributable to Wheeler REIT Common Shareholders $ (2,175) $ (4,616) $ (11,103) $ (18,340)
Basic and Diluted (in dollars per share) $ (0.22) $ (0.48) $ (1.14) $ (1.90)
Weighted-average number of shares:        
Basic and Diluted (in shares) 9,699,461 9,693,271 9,696,554 9,664,582