Wheeler Real Estate Investment Trust Inc (WHLR)
NASDAQ:WHLR
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Wheeler Real Estate Investment
(NASDAQ:WHLR)
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Rating:44Neutral
Price Target:
$0.77
â–¼(-69.92% Downside)
Action:Reiterated
Date:06/08/26
The score is held down primarily by elevated balance sheet risk (negative equity and historically very high leverage) and weak technicals (below major moving averages with negative MACD). Cash flow is comparatively steadier and valuation screens very low on P/E, but ongoing dilution-related corporate actions and the sharp TTM revenue decline limit the overall rating.
Positive Factors
Consistent operating cash flow
Steady operating cash flow and recurring positive free cash flow provide durable liquidity to cover property operating costs, modest capex and interest obligations. Over 2–6 months this stability supports operations and reduces short-term refinancing pressure despite balance sheet volatility.
Negative Factors
Highly stressed balance sheet
Negative TTM equity and historically high debt-to-equity materially elevate refinancing and solvency risk. Over a 2–6 month horizon this constrains access to traditional debt markets, forces reliance on alternative funding, and magnifies vulnerability to cash flow hiccups.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent operating cash flow
Steady operating cash flow and recurring positive free cash flow provide durable liquidity to cover property operating costs, modest capex and interest obligations. Over 2–6 months this stability supports operations and reduces short-term refinancing pressure despite balance sheet volatility.
Read all positive factors
Wheeler Real Estate Investment (WHLR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$875.79K
Dividend YieldN/A
Average Volume (3M)121.66K
Price to Earnings (P/E)0.5
Beta (1Y)-7.10
Revenue Growth-4.01%
EPS Growth99.98%
CountryUS
Employees56
SectorReal Estate
Sector Strength53
IndustryREIT - Retail
Share Statistics
EPS (TTM)N/A
Shares Outstanding1,042,613
10 Day Avg. Volume93,624
30 Day Avg. Volume121,656
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)0.26
Price to Sales (P/S)0.16
P/FCF Ratio0.77
Enterprise Value/Market Cap516.87
Enterprise Value/Revenue4.55
Enterprise Value/Gross Profit8.02
Enterprise Value/Ebitda6.84
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Wheeler Real Estate Investment Business Overview & Revenue Model
Company Description
Wheeler Real Estate Investment Trust, Inc. (Nasdaq: WHLR), headquartered in Virginia Beach, Virginia, operates as a self-managed and fully integrated commercial real estate investment trust. Its core business centers on the acquisition, leasing, a...
How the Company Makes Money
WHLR primarily makes money by collecting contractual rent and other property-level income from tenants leasing space in its shopping center portfolio. Key revenue streams typically include (1) base rent under long-term leases (often with periodic ...
Wheeler Real Estate Investment Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
28
Negative
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 99.41M | 99.44M | 104.57M | 102.33M | 76.64M | 61.31M |
| Gross Profit | 56.43M | 66.40M | 69.47M | 67.45M | 50.91M | 41.69M |
| EBITDA | 66.17M | 68.87M | 55.65M | 62.33M | 32.47M | 38.49M |
| Net Income | 5.86M | 8.77M | -9.58M | -4.69M | -12.45M | -9.44M |
Balance Sheet | ||||||
| Total Assets | 594.01M | 601.73M | 653.70M | 668.33M | 684.54M | 465.28M |
| Cash, Cash Equivalents and Short-Term Investments | 23.59M | 48.06M | 42.96M | 18.40M | 28.49M | 22.90M |
| Total Debt | 476.20M | 483.75M | 492.74M | 505.72M | 506.48M | 349.72M |
| Total Liabilities | 502.61M | 507.04M | 537.05M | 526.80M | 531.98M | 368.93M |
| Stockholders Equity | 63.02M | 63.44M | 59.26M | 75.41M | 86.36M | 94.41M |
Cash Flow | ||||||
| Free Cash Flow | 4.25M | 21.13M | 3.46M | 913.00K | 22.25M | 10.63M |
| Operating Cash Flow | 21.16M | 21.13M | 25.99M | 20.93M | 30.76M | 17.04M |
| Investing Cash Flow | 51.62M | 32.14M | 3.98M | -31.52M | -133.51M | 5.10M |
| Financing Cash Flow | -29.87M | -65.36M | -9.06M | -5.47M | 118.20M | -24.49M |
Wheeler Real Estate Investment Technical Analysis
Negative
2.57
Price Trends
1.71
Negative
4.82
Negative
39.12
Negative
Market Momentum
-0.28
Negative
31.60
Neutral
10.17
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WHLR, the sentiment is Negative. The current price of 2.57 is above the 20-day moving average (MA) of 1.03, above the 50-day MA of 1.71, and below the 200-day MA of 39.12, indicating a bearish trend. The MACD of -0.28 indicates Negative momentum. The RSI at 31.60 is Neutral, neither overbought nor oversold. The STOCH value of 10.17 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for WHLR.
Wheeler Real Estate Investment Risk Analysis
Wheeler Real Estate Investment disclosed 63 risk factors in its most recent earnings report. Wheeler Real Estate Investment reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Wheeler Real Estate Investment Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $1.49B | 8.34 | 49.14% | 6.79% | 10.29% | 160.54% | |
67 Neutral | $895.80M | 23.99 | 11.80% | 7.89% | 8.31% | -28.42% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
55 Neutral | $260.80M | 1.48 | 47.95% | ― | -67.13% | -68.06% | |
54 Neutral | $321.57M | 427.87 | 0.27% | 7.01% | 19.95% | -181.87% | |
45 Neutral | $148.70M | -1.92 | -23.49% | ― | -5.08% | 49.80% | |
44 Neutral | $875.79K | 0.52 | 20.26% | ― | -4.01% | 99.98% |
* Real Estate Sector Average
WHLR
Wheeler Real Estate Investment
0.84
-436.56
-99.81%
SITC
SITE Centers
4.97
-0.99
-16.62%
BFS
Saul Centers
36.51
4.05
12.48%
SRG
Seritage
2.64
-0.29
-9.90%
PINE
Alpine Income Property Trust Inc
19.46
5.05
35.03%
CBL
CBL & Associates Properties
48.01
23.62
96.86%
Wheeler Real Estate Investment Corporate Events
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Wheeler REIT Adjusts Conversion Terms Amid Ongoing Redemptions
Negative
Jun 8, 2026
For June 2026, Wheeler Real Estate Investment Trust, Inc. reported that the lowest price at which its Series D Cumulative Convertible Preferred Stock was converted into common stock was approximately $1.26, triggering a further adjustment in the c...
Business Operations and StrategyPrivate Placements and Financing
Wheeler Real Estate Investment Executes Preferred-for-Common Exchange
Neutral
Jun 1, 2026
On May 28, 2026, Wheeler Real Estate Investment Trust, Inc. agreed to issue 142,800 shares of its common stock to an unaffiliated existing investor in exchange for 2,800 shares of its Series D Cumulative Convertible Preferred Stock and 5,600 share...
Business Operations and StrategyPrivate Placements and Financing
Wheeler Real Estate Investment Shifts Preferred to Common Equity
Neutral
May 27, 2026
On May 21, 2026, Wheeler Real Estate Investment Trust, Inc. agreed to issue 757,850 shares of common stock to three unaffiliated investors in exchange for an aggregate 15,157 shares of Series D Cumulative Convertible Preferred Stock and 30,314 sha...
Business Operations and StrategyPrivate Placements and Financing
Wheeler Real Estate Shifts Note Interest to Equity
Negative
May 20, 2026
On May 15, 2026, Wheeler Real Estate Investment decided that the interest due June 30, 2026 on its 7.00% Subordinated Convertible Notes due 2031 will be paid not in cash but in shares of its Series D Cumulative Convertible Preferred Stock to noteh...
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
Wheeler Real Estate Reports First Quarter 2026 Results
Neutral
May 8, 2026
Wheeler Real Estate Investment Trust, Inc. reported its financial and operating results for the quarter ended March 31, 2026, following the filing of its Form 10-Q with the SEC on May 8, 2026. The company also made additional supplemental financia...
Business Operations and StrategyPrivate Placements and Financing
Wheeler Real Estate Simplifies Capital Structure via Exchanges
Positive
May 6, 2026
On April 20, 2026, Wheeler Real Estate Investment Trust, Inc. exchanged 1,000 shares of its Series D Cumulative Convertible Preferred Stock and 2,000 shares of its Series B Convertible Preferred Stock held by an unaffiliated investor for 25,000 sh...
Business Operations and Strategy
Wheeler REIT Adjusts Conversion Price After May Redemptions
Neutral
May 6, 2026
Wheeler Real Estate Investment Trust, Inc. reported that May 2026 redemptions of its Series D Cumulative Convertible Preferred Stock triggered a further adjustment in the conversion price of its 7.00% Subordinated Convertible Notes due 2031 to app...
Business Operations and StrategyRegulatory Filings and Compliance
Wheeler Real Estate Announces Changes to Security Holder Rights
Neutral
Apr 13, 2026
Wheeler Real Estate Investment Trust disclosed information relevant to Item 3.03 of Form 8-K, indicating that there were developments affecting the rights of its security holders. The disclosure suggests that the company experienced or implemented...
Business Operations and StrategyPrivate Placements and Financing
Wheeler REIT Continues Series D Redemptions, Resets Conversion Price
Negative
Apr 7, 2026
On April 6, 2026, Wheeler Real Estate Investment Trust processed its 31st monthly holder redemption date for its Series D Cumulative Convertible Preferred Stock, handling five requests that redeemed 5,200 preferred shares at about $41.28 per share...
Business Operations and StrategyPrivate Placements and Financing
Wheeler Real Estate Issues Series D Preferred in Exchange
Neutral
Apr 6, 2026
On March 16, 2026, and April 1, 2026, Wheeler Real Estate Investment entered into subscription agreements with unaffiliated investors under which it issued a total of 146,666 shares of Series D Preferred Stock in exchange for 210,000 shares of Ced...
Business Operations and StrategyPrivate Placements and Financing
Wheeler REIT Simplifies Capital Structure After Warrant Exercise
Positive
Mar 26, 2026
Wheeler Real Estate Investment Trust, Inc., a REIT focused on income-producing retail properties such as grocery-anchored and necessity-based shopping centers, concentrates on leasing to everyday needs retailers to support consistent cash flows. I...
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
Wheeler Real Estate Announces CFO Exit and Governance Changes
Neutral
Mar 13, 2026
On March 10, 2026, Wheeler Real Estate Investment Trust, Inc. reported that its Chief Financial Officer would leave the company as of March 13, 2026, and that a search for a successor is underway. Effective March 14, 2026, the company appointed lo...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.