v3.26.1
Condensed Consolidated Statements of Operations - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
REVENUE:        
Rental revenues $ 22,024,000 $ 25,656,000 $ 45,902,000 $ 49,837,000
Other revenues 452,000 445,000 581,000 618,000
Total Revenue 22,476,000 26,101,000 46,483,000 50,455,000
OPERATING EXPENSES:        
Property operations 6,851,000 7,741,000 15,260,000 16,678,000
Depreciation and amortization 5,089,000 5,778,000 10,321,000 12,009,000
Impairment charges 1,590,000 0 1,590,000 0
Corporate general & administrative 3,323,000 2,817,000 6,059,000 5,549,000
Total Operating Expenses 16,853,000 16,336,000 33,230,000 34,236,000
Gain on disposal of properties, net 4,885,000 5,189,000 7,442,000 10,877,000
Operating Income 10,508,000 14,954,000 20,695,000 27,096,000
Interest income 207,000 202,000 360,000 444,000
Interest expense (7,960,000) (8,692,000) (15,254,000) (16,785,000)
Net changes in fair value of derivative liabilities 7,566,000 (6,427,000) 4,196,000 (8,737,000)
Loss on conversion of Convertible Notes 0 (902,000) 0 (902,000)
Gain on preferred stock redemptions 111,000 228,000 290,000 1,046,000
Other expense (684,000) (363,000) (1,710,000) (763,000)
Net Income (Loss) Before Income Taxes 9,748,000 (1,000,000) 8,577,000 1,399,000
Income tax expense (2,000) 0 (2,000) (26,000)
Net Income (Loss) 9,746,000 (1,000,000) 8,575,000 1,373,000
Less: Net income attributable to noncontrolling interests 1,107,000 1,447,000 2,333,000 3,311,000
Net Income (Loss) Attributable to Wheeler REIT 8,639,000 (2,447,000) 6,242,000 (1,938,000)
Preferred Stock dividends - undeclared (1,719,000) (1,632,000) (3,274,000) (3,510,000)
Deemed contribution related to issuance of Series D Preferred Stock 1,033,000 553,000 1,860,000 553,000
Deemed contribution related to preferred stock exchanges 642,000 2,491,000 1,137,000 5,518,000
Deemed distribution related to noncontrolling interests (1,448,000) (4,011,000) (4,084,000) (12,521,000)
Net Income (Loss) Attributable to Wheeler REIT Common Shareholders 7,147,000 (5,046,000) 1,881,000 (11,898,000)
Net Income (Loss) Attributable to Wheeler REIT Common Shareholders $ 7,147,000 $ (5,046,000) $ 1,881,000 $ (11,898,000)
Earnings (loss) per share:        
Basic (in dollars per share) $ 102.49 $ (17,105.08) $ 42.69 $ (74,830.19)
Diluted (in dollars per share) $ 0.24 $ (17,105.08) $ (0.11) $ (74,830.19)
Weighted-average number of shares:        
Basic (in shares) 69,731 295 44,058 159
Diluted (in shares) 4,980,601 295 2,162,605 159