Symbol: WHLR
CIK: 1527541
Exchange: NASDAQ
Other Symbols: WHLRP, WHLRD, WHLRL
Founded: 2011 (15 years)
HQ: Virginia Beach, VA, United States
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Micro-Cap
REIT Sector: Retail
Internally Managed REIT
REITRating™ Score: 2.1
See WHLR on Yahoo Finance
See WHLR on SEC.gov
Since our establishment in 1999, Wheeler Real Estate Company (WHLR) has been dedicated to acquiring, developing, leasing, managing, and investing in income producing assets. As a high-performing REIT, we have been revolutionizing the real estate industry by strategically positioning our tenants and assets. Our leasing team focuses on three core pillars – necessity, service, and convenience – to create a tenant mix that is current, relevant, and strategic. Over the years, our company has made significant progress from initially owning and managing approximately 5.7 million square feet of commercial property in the Mid-Atlantic, Northeast, Southeast, and Midwest regions. In 2022, we proudly acquired Cedar Realty Trust, another exceptional real estate investment trust (REIT) originally based out of New York. Cedar Realty Trust specializes in managing predominantly grocery-anchored shopping centers in high density urban markets. This acquisition enabled us to expand our presence into three new states, adding 19 valuable assets to our portfolio and increasing our total square footage to over 8 million. With their focused approach and prudent capital allocation, we continue to position ourselves as the most innovative and pioneering REIT.
REITBOT™ Alert
Dividends have been suspended for this REIT.
*The forward annualized dividend and dividend yield are based on the most recent dividend value paid by the REIT. The REIT may have already announced their next upcoming dividend value, which may be different from previously paid dividend value. It is recommended to check the REIT's website and dividend announcements for the latest information on upcoming dividends and changes. This graph does not include extraordinary dividend.
Below are the FFO amounts, dividends, and payout ratios for the last two quarters for WHLR. Compare FFO to other REITs at REITFFO.
| Year | Quarter | Type | Amount | Dividend Paid | Payout Ratio |
|---|---|---|---|---|---|
| 2025 | Q4 | FFO | -$0.30 | $0.00 | 0.00% |
| 2025 | Q3 | AFFO | $0.28 | $0.00 | 0.00% |
| 2025 | Q3 | FFO | $0.36 | $0.00 | 0.00% |
REITNotes uses the REIT's Funds From Operation (FFO) per diluted share informed in the REIT’s Quarterly Earning Reports and its announced dividend per diluted share. For some REITs, we also display the Adjusted Funds From Operations (AFFO), Core FFO, Normalized FFO (NFFO), Modified FFO (MFFO), Operating FFO as provided by the REIT. REITNotes™ calculates the payout ratio by dividing the dividend value paid during the current quarter by the FFO declared in the previous Quarter. E.g., we divide the dividend value paid in Q3 by the FFO reported in Q2. This is because although paid in Q3, the dividend value is usually declared during the previous quarter. FFO is a non-GAAP measure recognized by the SEC and provided by the REITs as a supplemental measure of their operating performance. FFO is not meant to be an indicator of the REIT’s capacity to pay current or future dividends nor to be a substitute to the REIT's cash flow from operations. It is recommended to check the REIT's website, Earning Reports and dividend announcements for the latest and updated information. The “Payout Ratio” is calculated by dividing the “Dividends Paid” column by the “FFO Amount” column. Some REITs may have two types of FFO (eg. FFO and Modified FFO) while others may have just one type of FFO.
REITNotes' Dividend to FFO Payout Ratio graph is based on the REIT's Funds From Operation (FFO) per diluted share informed in the REIT’s Quarterly Earning Reports and its announced dividend per diluted share. For some REITs, we also display the Adjusted Funds From Operations (AFFO), Core FFO, Normalized FFO (NFFO), Modified FFO (MFFO), Operating FFO as provided by the REIT. REITNotes™ calculates the payout ratio by dividing the dividend value paid during the current quarter by the FFO declared in the previous Quarter. E.g., we divide the dividend value paid in Q3 by the FFO reported in Q2. This is because although paid in Q3, the dividend value is usually declared during the previous quarter. FFO is a non-GAAP measure recognized by the SEC and provided by the REITs as a supplemental measure of their operating performance. FFO is not meant to be an indicator of the REIT’s capacity to pay current or future dividends nor to be a substitute to the REIT's cash flow from operations. It is recommended to check the REIT's website, Earning Reports and dividend announcements for the latest and updated information.
REITNotes' Price to FFO (P/FFO) Multiples graph is calculated by dividing the REIT’s closing stock price for the day by the Trailing Twelve Month (TTM) Funds from Operations (FFO). For some REITs we also display the Price-to-Adjusted Funds From Operations (P/AFFO), Price-to-Core FFO (P/CFFO), Price-to-Normalized FFO (P/NFFO), Price-to-Modified FFO (P/MFFO), Price-to-Operating (P/FFO), depending on the data provided in the REIT’s Quarterly Earning Reports.
As you may be familiar with, the price-to-earnings ratio (P/E ratio) is a useful tool for investors to gauge the market's valuation of a company’s stock price. The price-to-FFO ratio (or multiple) is a comparable measure used in the REIT industry that compares the REIT’s stock price to its FFO per share instead of its earnings per share (EPS).
Sample of REIT’s Properties. Image Source - REIT’s website
Different REITs may report Occupancy levels in various forms/calculations. Some of the terms used to describe occupancy are Portfolio Occupancy, Weighted Average Occupancy, Ending Occupancy, Economic Occupancy, Leased Occupancy, Physical Occupancy, Pro Forma Occupancy, Same-Property Occupancy, Stabilized Portfolio Occupancy, Comparable Occupancy, Lease Rate, Percent Leased, among others. Some REITs interchange the words Occupancy and Leased while others use them to distinguish between data points. Some REITs also vary the use of the words over time through their earning reports. Therefore the information provided here is our best attempt at collecting data on occupancy/leased trends. However, it may not be accurate or comparable between different REITs.
Below is a simulation of how much money you would have made in dividends, and how much the shares would be worth had you purchased them 1 year ago for the amounts below.
| With $1,000 USD | With $500 USD | With $250 USD | With $100 USD | With $50 USD | |
|---|---|---|---|---|---|
| Initial investment | @ $1.35 per share you would have been able to buy 740 shares of WHLR on 2025-05-01 costing $999.00 | @ $1.35 per share you would have been able to buy 370 shares of WHLR on 2025-05-01 costing $499.50 | @ $1.35 per share you would have been able to buy 185 shares of WHLR on 2025-05-01 costing $249.75 | @ $1.35 per share you would have been able to buy 74 shares of WHLR on 2025-05-01 costing $99.90 | @ $1.35 per share you would have been able to buy 37 shares of WHLR on 2025-05-01 costing $49.95 |
| Current worth | On 2026-04-30 these 740 shares would be worth $1,339.40 @ $1.81 | On 2026-04-30 these 370 shares would be worth $669.70 @ $1.81 | On 2026-04-30 these 185 shares would be worth $334.85 @ $1.81 | On 2026-04-30 these 74 shares would be worth $133.94 @ $1.81 | On 2026-04-30 these 37 shares would be worth $66.97 @ $1.81 |
| Dividends earned | $0.00 in dividends would have been earned since 2025-05-01 with 740 shares. | $0 in dividends would have been earned since 2025-05-01 with 370 shares. | $0.00 in dividends would have been earned since 2025-05-01 with 185 shares. | $0.00 in dividends would have been earned since 2025-05-01 with 74 shares. | $0.00 in dividends would have been earned since 2025-05-01 with 370 shares. |
| Net (gain / loss)* | 340.40 USD | 170.20 USD | 85.10 USD | 34.04 USD | 17.02 USD |
| ROI** | 34.07% | 34.07% | 34.07% | 34.07% | 34.07% |
*Net (Gains/Loss): Includes the stock price (appreciate or depreciate ) + dividends earned during period held. Stock prices based on closing price for the date. **ROI: Is based on the Net (gain/loss) divided by the initial investment value. Note: Past performance is no guarantee of future results. This is a high-level simulation and does not account for many factors such as inflation and taxes so we cannot guarantee the accuracy of this simulation.
Below are the most recent cash dividends paid by WHLR. The percent difference from one dividend payment to the next has also been calculated for your convenience. Dividends flagged as [E] are extraordinary dividend payments.
| Symbol | Ex Date | Cash Amount | Change in Dividend | Declaration Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| WHLR | 2018-03-29 | 0.420 | --- | 2017-02-27 | 2018-03-30 | 2018-04-15 |
| WHLR | 2017-12-28 | 0.420 | 23.53% | 2017-02-27 | 2017-12-29 | 2018-01-15 |
| WHLR | 2017-12-27 | 0.340 | -19.05% | 2017-12-14 | 2017-12-28 | 2018-01-15 |
| WHLR | 2017-09-28 | 0.420 | --- | 2017-02-27 | 2017-09-29 | 2017-10-15 |
| WHLR | 2017-06-28 | 0.420 | 2,300.00% | 2017-02-27 | 2017-06-30 | 2017-07-15 |
| WHLR | 2017-03-29 | 0.018 | --- | 2017-03-17 | 2017-03-31 | 2017-04-28 |
| WHLR | 2017-02-24 | 0.018 | --- | 2017-02-16 | 2017-02-28 | 2017-03-31 |
| WHLR | 2017-01-27 | 0.018 | --- | 2017-01-18 | 2017-01-31 | 2017-02-28 |
| WHLR | 2016-12-28 | 0.018 | --- | 2016-12-20 | 2016-12-30 | 2017-01-31 |
| WHLR | 2016-11-28 | 0.018 | --- | 2016-11-22 | 2016-11-30 | 2016-12-30 |
| WHLR | 2016-10-27 | 0.018 | --- | 2016-10-18 | 2016-10-31 | 2016-11-30 |
| WHLR | 2016-09-28 | 0.018 | --- | 2016-09-19 | 2016-09-30 | 2016-10-31 |