Quarterly ResultAug 6, 2026, 04:37 PM
Wheeler REIT Q2 Net Income $7.1M; Basic EPS $102.49; Reduces Debt
AI Summary
Wheeler Real Estate Investment Trust, Inc. reported its second quarter 2026 financial and operating results, with net income attributable to common stockholders of $7.1 million and basic EPS of $102.49. FFO available to common stockholders reached $8.7 million. While total revenue decreased by 13.9% and Same-Property NOI declined by 6.9%, the company achieved significant improvements in occupancy and leased rates, reaching 93.2% and 93.8% respectively. Strategic asset sales totaling $15.8 million contributed to a reduction in total debt to $471.7 million, strengthening the balance sheet.
Key Highlights
- Net income attributable to common stockholders was $7.1 million, with basic EPS of $102.49.
- FFO available to common stockholders was $8.7 million, with FFO per share of $125.27.
- Total revenue decreased by 13.9% to $22.5 million, while operating expenses increased by 3.2% to $16.9 million.
- Same-Property Net Operating Income (NOI) decreased by 6.9% or $1.1 million.
- Company-wide occupancy increased by 160 basis points to 93.2%, and leased rate increased by 180 basis points to 93.8%.
- WHLR executed lease renewals with a 15.6% rent spread and new leases with a 31.9% rent spread.
- Sold three assets for $15.8 million, reducing total debt to $471.7 million from $482.8 million.
- Cash and cash equivalents increased to $31.9 million from $23.7 million at year-end 2025.
Price Impact
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