Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.20.4
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
REVENUE:    
Rental revenues $ 60,039 $ 62,442
Other revenues 964 720
Total Revenue 61,003 63,162
OPERATING EXPENSES:    
Property operations 18,886 19,127
Non-REIT management and leasing services 0 25
Depreciation and amortization 17,291 21,319
Impairment of notes receivable 0 5,000
Impairment of assets held for sale 600 1,598
Corporate general & administrative 5,831 6,633
Total Operating Expenses 42,608 53,702
Gain on disposal of properties 23 1,394
Operating Income 18,418 10,854
Interest expense (17,092) (18,983)
Other expense (1,039) 0
Net Income (Loss) Before Income Taxes 287 (8,129)
Income tax expense 0 (15)
Net Income (Loss) 287 (8,144)
Less: Net income (loss) attributable to noncontrolling interests 42 (105)
Net Income (Loss) Attributable to Wheeler REIT 245 (8,039)
Preferred Stock dividends - undeclared (14,528) (14,629)
Deemed contribution related to preferred stock discount 726 0
Net Loss Attributable to Wheeler REIT Common Stockholders $ (13,557) $ (22,668)
Total loss per share (in dollars per share) $ (1.40) $ (2.34)
Weighted-average number of shares:    
Basic and Diluted (in shares) 9,698,274 9,671,847