Wheeler Real Estate Investment Trust, Inc. Q2 FY26 Results
WHLRQ2 FY26 ResultsAnnounced Aug 6, 8:00 AM| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 0.45 | 246.2% | 0.0% |
| Total Income | 0.45 | 246.2% | 0.0% |
| Expenditure | 16.85 | 2.9% | 3.1% |
| PBT | 9.75 | 933.3% | 1075.0% |
| Net Profit | 8.64 | 460.0% | 452.6% |
| OPM | 100.00% | 0.00pp | 0.00pp |
| NPM | 100.00% | ||
| EPS | 102.49 | 804.4% | 1184.5% |
Wheeler REIT Announces Q2 2026 Financial and Operating Results
07 Aug 2026 · 7 Aug, 2:06 am
Summary
Wheeler Real Estate Investment Trust, Inc. reported its financial and operating results for the three and six months ended June 30, 2026. For the second quarter, the company posted net income attributable to common stockholders of $7.1 million, with FFO available to common stockholders at $8.7 million. The company's real estate portfolio showed improved occupancy and leased rates, reaching 93.2% and 93.8% respectively. Management highlighted continued leasing execution and progress on its capital recycling strategy, which included asset sales and debt reduction, lowering total debt to $471.7 million.
Key Highlights
- 1
For the three months ended June 30, 2026, Wheeler Real Estate Investment Trust, Inc. reported net income attributable to common stockholders of $7.1 million, resulting in basic earnings per share of $102.49.
- 2
FFO available to common stockholders for the second quarter of 2026 was $8.7 million, or $125.27 per common share.
- 3
AFFO for the second quarter of 2026 was $2.4 million, or $34.98 per common share.
- 4
The Company's real estate portfolio was 93.2% occupied and 93.8% leased as of June 30, 2026, representing an increase from the prior year period.
- 5
Same-Property NOI decreased by 6.9% for the second quarter of 2026, primarily due to a $1.1 million decrease in property revenue.
- 6
Total debt was reduced to $471.7 million as of June 30, 2026, down from $482.8 million at year-end 2025, reflecting deleveraging efforts.
- 7
The Company executed a series of strategic asset sales totaling $21.6 million in proceeds for the six months ended June 30, 2026, which supported deleveraging efforts.
Management Comments
M. Andrew Franklin
Our second quarter results reflect continued discipline in leasing execution alongside further progress on our capital recycling strategy. WHLR delivered a 15.6% renewal rent spread across 59,456 square feet and a 31.9% spread on new leases, while Cedar achieved a 12.9% renewal spread and a 67.7% new lease spread, driving combined portfolio occupancy to 93.2%, a 160 basis point improvement over the prior year period, and combined leased rate to 93.8%. While Same-Property NOI declined 6.9% on lower property expense reimbursement revenue, Same-Property base rent revenue increased 4.1%. On the balance sheet, we continued to strengthen our capital structure and reduce leverage. We completed the sale of three assets for combined proceeds of approximately $15.8 million, applying the proceeds toward the full retirement of the Tuckernuck loan and further paydown of the June 2022 Term Loan, while continuing to retire Cedar Preferred Stock through additional exchange transactions. These actions reduced total debt to $471.7 million from $482.8 million at year-end 2025, lowering our cost of capital and future dividend obligations. We remain focused on disciplined capital recycling and deleveraging to strengthen the balance sheet and drive long-term value for our stakeholders.
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