Wheeler Real Estate Investment Trust, Inc. (WHLR): This Amendment No. 13 reports that the Reporting Persons may be deemed to beneficially own 1,195,354 shares of Common Stock, equal to 45% of the shares calculated under the Investor Excepted Holder Limits, as of March 31, 2026. The 1,195,354 share figure consists of 145,069 currently held shares and 1,050,285 shares issuable upon hypothetical conversion of the Notes, Series D Preferred Stock and Series B Preferred Stock, subject to the Excepted Holder Agreement. The Reporting Persons state the 45% cap arises from an Excepted Holder Agreement dated February 19, 2026 that permits higher ownership limits (up to 45% of outstanding Common Stock and 19% of total capital stock value) than the Issuer's charter limits. The 45% denominator (2,656,343 shares) was calculated using: 1,433,983 shares outstanding as of March 24, 2026, 172,075 shares issued on March 24, 2026 upon exercise of warrants, plus the hypothetical conversion amount of 1,050,285 shares. The filing is a joint Schedule 13G/A amendment by Magnetar Financial LLC, Magnetar Capital Partners LP, Supernova Management LLC and David J. Snyderman.
Wheeler Real Estate Investment Trust, Inc. (WHLR): This Amendment No. 13 reports that the Reporting Persons may be deemed to beneficially own 1,195,354 shares of Common Stock, equal to 45% of the shares calculated under the Investor Excepted Holder Limits, as of March 31, 2026. The 1,195,354 share figure consists of 145,069 currently held shares and 1,050,285 shares issuable upon hypothetical conversion of the Notes, Series D Preferred Stock and Series B Preferred Stock, subject to the Excepted Holder Agreement. The Reporting Persons state the 45% cap arises from an Excepted Holder Agreement dated February 19, 2026 that permits higher ownership limits (up to 45% of outstanding Common Stock and 19% of total capital stock value) than the Issuer's charter limits. The 45% denominator (2,656,343 shares) was calculated using: 1,433,983 shares outstanding as of March 24, 2026, 172,075 shares issued on March 24, 2026 upon exercise of warrants, plus the hypothetical conversion amount of 1,050,285 shares. The filing is a joint Schedule 13G/A amendment by Magnetar Financial LLC, Magnetar Capital Partners LP, Supernova Management LLC and David J. Snyderman.
Wheeler Real Estate Investment Trust, Inc. reported first quarter 2026 results showing stronger property operations alongside a GAAP loss. Net loss attributable to common shareholders was $5.3 million, or $(14.55) per share, while AFFO rose to $2.2 million, or $5.97 per share.
Same-Property NOI increased 7.9%, driven by higher property revenues and modestly higher expenses. Portfolio performance was solid, with the combined portfolio 94.6% leased and 94.0% occupied, and renewal rent spreads of 9.0% at WHLR and 27.3% at Cedar.
The Company continued to reshape its balance sheet, with total debt of $475.2 million (80.0% of total assets) and real estate, net, of $480.2 million. Management highlighted property sales, term-loan paydowns, warrant exercises, and preferred stock exchanges as steps intended to reduce leverage and future dividend obligations.
Wheeler Real Estate Investment Trust, Inc. reported first quarter 2026 results showing stronger property operations alongside a GAAP loss. Net loss attributable to common shareholders was $5.3 million, or $(14.55) per share, while AFFO rose to $2.2 million, or $5.97 per share.
Same-Property NOI increased 7.9%, driven by higher property revenues and modestly higher expenses. Portfolio performance was solid, with the combined portfolio 94.6% leased and 94.0% occupied, and renewal rent spreads of 9.0% at WHLR and 27.3% at Cedar.
The Company continued to reshape its balance sheet, with total debt of $475.2 million (80.0% of total assets) and real estate, net, of $480.2 million. Management highlighted property sales, term-loan paydowns, warrant exercises, and preferred stock exchanges as steps intended to reduce leverage and future dividend obligations.
Wheeler Real Estate Investment Trust reported Q1 2026 revenue of $24.0 million, slightly below $24.4 million a year earlier, and a net loss attributable to common shareholders of $5.3 million versus a $6.9 million loss in Q1 2025.
Operating income was $10.2 million, helped by property sales that generated $2.6 million of gains. Same-property NOI rose to $15.0 million, up 7.9%, as rent spreads on renewals and new leases were positive. AFFO improved to $2.2 million, turning positive from $0.4 million.
Total assets were $594.0 million and loans payable, net, were $461.1 million. Shareholders’ equity showed a $4.3 million deficit, while total equity including noncontrolling interests was $24.1 million. The company continued asset sales and debt paydowns, redeemed and exchanged Series D preferred shares into common stock, and ended the quarter with $26.3 million of cumulative undeclared Series D dividends.
Wheeler Real Estate Investment Trust reported Q1 2026 revenue of $24.0 million, slightly below $24.4 million a year earlier, and a net loss attributable to common shareholders of $5.3 million versus a $6.9 million loss in Q1 2025.
Operating income was $10.2 million, helped by property sales that generated $2.6 million of gains. Same-property NOI rose to $15.0 million, up 7.9%, as rent spreads on renewals and new leases were positive. AFFO improved to $2.2 million, turning positive from $0.4 million.
Total assets were $594.0 million and loans payable, net, were $461.1 million. Shareholders’ equity showed a $4.3 million deficit, while total equity including noncontrolling interests was $24.1 million. The company continued asset sales and debt paydowns, redeemed and exchanged Series D preferred shares into common stock, and ended the quarter with $26.3 million of cumulative undeclared Series D dividends.
Wheeler Real Estate Investment Trust, Inc. entered into a series of non‑cash exchanges in April and May 2026, issuing common stock in return for its outstanding preferred stock. On April 20, it agreed to issue 25,000 common shares in exchange for 1,000 shares of Series D Cumulative Convertible Preferred Stock and 2,000 shares of Series B Convertible Preferred Stock. On April 24, it agreed to issue 13,000 common shares for 500 Series D and 1,000 Series B shares. On May 1, it agreed to issue 33,516 common shares to two investors for a total of 1,197 Series D and 2,394 Series B shares. On May 4, it agreed to issue 65,000 common shares for 2,500 Series D and 5,000 Series B shares. The company received no cash proceeds, and all exchanged preferred shares were retired and cancelled. The issuances relied on the Section 3(a)(9) exemption under the Securities Act as exchanges with existing security holders, with no commissions paid.
Wheeler Real Estate Investment Trust, Inc. entered into a series of non‑cash exchanges in April and May 2026, issuing common stock in return for its outstanding preferred stock. On April 20, it agreed to issue 25,000 common shares in exchange for 1,000 shares of Series D Cumulative Convertible Preferred Stock and 2,000 shares of Series B Convertible Preferred Stock. On April 24, it agreed to issue 13,000 common shares for 500 Series D and 1,000 Series B shares. On May 1, it agreed to issue 33,516 common shares to two investors for a total of 1,197 Series D and 2,394 Series B shares. On May 4, it agreed to issue 65,000 common shares for 2,500 Series D and 5,000 Series B shares. The company received no cash proceeds, and all exchanged preferred shares were retired and cancelled. The issuances relied on the Section 3(a)(9) exemption under the Securities Act as exchanges with existing security holders, with no commissions paid.
Wheeler Real Estate Investment Trust updated investors on May 2026 Series D preferred redemptions and the resulting reset of its 7.00% Subordinated Convertible Notes due 2031 conversion terms. Based on recent Series D conversions, the notes’ conversion price was adjusted to approximately $1.03 per common share, equal to about 24.34 shares for each $25 principal amount.
On the 32nd monthly Holder Redemption Date, the company processed eight requests, redeeming 13,745 Series D preferred shares at a Redemption Price of about $40.99 per share and settling this entirely with 301,743 new common shares. Cumulatively, 1,796,028 Series D preferred shares have been redeemed, with roughly 502,000 common shares issued in settlement. As of May 5, 2026, 1,042,613 common shares and 1,762,819 Series D preferred shares were outstanding. The next redemption deadline is May 25, 2026, for a June 5, 2026 Holder Redemption Date.
Wheeler Real Estate Investment Trust updated investors on May 2026 Series D preferred redemptions and the resulting reset of its 7.00% Subordinated Convertible Notes due 2031 conversion terms. Based on recent Series D conversions, the notes’ conversion price was adjusted to approximately $1.03 per common share, equal to about 24.34 shares for each $25 principal amount.
On the 32nd monthly Holder Redemption Date, the company processed eight requests, redeeming 13,745 Series D preferred shares at a Redemption Price of about $40.99 per share and settling this entirely with 301,743 new common shares. Cumulatively, 1,796,028 Series D preferred shares have been redeemed, with roughly 502,000 common shares issued in settlement. As of May 5, 2026, 1,042,613 common shares and 1,762,819 Series D preferred shares were outstanding. The next redemption deadline is May 25, 2026, for a June 5, 2026 Holder Redemption Date.
Magnetar-affiliated entities reported a small open-market sale of Wheeler Real Estate Investment Trust, Inc. common stock. On April 15, 2026, entities managed by Magnetar Financial LLC sold 3,127 shares of WHLR common stock at a weighted average price of $0.7958 per share in multiple trades between $0.78 and $0.80. Following the reported transaction, the Form 4 shows 0 shares of this class held in the reported indirect position. The filing notes that Magnetar entities and related parties disclaim beneficial ownership of the shares except to the extent of their pecuniary interest.
Magnetar-affiliated entities reported a small open-market sale of Wheeler Real Estate Investment Trust, Inc. common stock. On April 15, 2026, entities managed by Magnetar Financial LLC sold 3,127 shares of WHLR common stock at a weighted average price of $0.7958 per share in multiple trades between $0.78 and $0.80. Following the reported transaction, the Form 4 shows 0 shares of this class held in the reported indirect position. The filing notes that Magnetar entities and related parties disclaim beneficial ownership of the shares except to the extent of their pecuniary interest.
Wheeler Real Estate Investment Trust, Inc. insiders linked to Magnetar entities reported net open-market sales of 93,500 shares of Common Stock. The sales occurred on April 10, 13 and 14, 2026 at weighted average prices of $0.8337, $0.8559 and $0.7658 per share.
The shares are held indirectly through various Magnetar-managed investment vehicles, and Magnetar Financial LLC and related parties disclaim beneficial ownership except for their pecuniary interest. After these transactions, the reporting structure shows 3,127 shares of Common Stock remaining indirectly held.
Wheeler Real Estate Investment Trust, Inc. insiders linked to Magnetar entities reported net open-market sales of 93,500 shares of Common Stock. The sales occurred on April 10, 13 and 14, 2026 at weighted average prices of $0.8337, $0.8559 and $0.7658 per share.
The shares are held indirectly through various Magnetar-managed investment vehicles, and Magnetar Financial LLC and related parties disclaim beneficial ownership except for their pecuniary interest. After these transactions, the reporting structure shows 3,127 shares of Common Stock remaining indirectly held.
Wheeler Real Estate Investment Trust, Inc. approved a one-for-three reverse stock split of its common stock, effective at 5:00 p.m. Eastern Time on April 17, 2026. The stock will begin trading on a split-adjusted basis on April 20, 2026 under a new CUSIP.
No fractional shares will be issued; instead, holders will receive cash based on the April 17, 2026 Nasdaq closing price for any fractional share. The reverse split reduces outstanding common shares from 1,813,124 to approximately 604,374 while leaving authorized share counts, relative ownership percentages and voting rights largely unchanged.
The company also reduced the post-split par value of common stock from $0.03 to $0.01 per share and proportionally adjusted conversion terms for its 7.00% subordinated convertible notes due 2031 and its Series B and Series D convertible preferred stock.
Wheeler Real Estate Investment Trust, Inc. approved a one-for-three reverse stock split of its common stock, effective at 5:00 p.m. Eastern Time on April 17, 2026. The stock will begin trading on a split-adjusted basis on April 20, 2026 under a new CUSIP.
No fractional shares will be issued; instead, holders will receive cash based on the April 17, 2026 Nasdaq closing price for any fractional share. The reverse split reduces outstanding common shares from 1,813,124 to approximately 604,374 while leaving authorized share counts, relative ownership percentages and voting rights largely unchanged.
The company also reduced the post-split par value of common stock from $0.03 to $0.01 per share and proportionally adjusted conversion terms for its 7.00% subordinated convertible notes due 2031 and its Series B and Series D convertible preferred stock.
Wheeler Real Estate Investment Trust, Inc. insider entities reported open-market sales of Common Stock linked to Magnetar-managed vehicles. Over April 7–9, 2026, Magnetar-related funds sold a total of 25,354 shares of Wheeler common stock in three transactions.
The shares were sold at weighted average prices between $0.82 and $0.88 per share, with one line showing 96,627 shares remaining indirectly owned after the latest sale. The positions are held through various Magnetar investment vehicles, and Magnetar Financial LLC, Magnetar Capital Partners LP, Supernova Management LLC and David J. Snyderman each disclaim beneficial ownership except to the extent of their pecuniary interest.
Wheeler Real Estate Investment Trust, Inc. insider entities reported open-market sales of Common Stock linked to Magnetar-managed vehicles. Over April 7–9, 2026, Magnetar-related funds sold a total of 25,354 shares of Wheeler common stock in three transactions.
The shares were sold at weighted average prices between $0.82 and $0.88 per share, with one line showing 96,627 shares remaining indirectly owned after the latest sale. The positions are held through various Magnetar investment vehicles, and Magnetar Financial LLC, Magnetar Capital Partners LP, Supernova Management LLC and David J. Snyderman each disclaim beneficial ownership except to the extent of their pecuniary interest.
Wheeler Real Estate Investment Trust updated the conversion terms for its 7.00% Subordinated Convertible Notes due 2031 after April 2026 Series D preferred stock redemptions. The Notes’ conversion price was adjusted to approximately $0.57 per share of common stock, equal to about 43.85 shares for each $25.00 of principal, reflecting a 45% discount to the $1.04 volume-weighted average common share price.
On the April 6, 2026 Holder Redemption Date, holders redeemed 5,200 Series D Cumulative Convertible Preferred shares at a Redemption Price of about $41.28 per share, settled through issuance of 207,066 common shares. Cumulatively, 1,782,283 Series D preferred shares have been redeemed with roughly 600,000 common shares issued, leaving 1,813,124 common shares and 1,715,095 Series D preferred shares outstanding as of April 6, 2026.
Wheeler Real Estate Investment Trust updated the conversion terms for its 7.00% Subordinated Convertible Notes due 2031 after April 2026 Series D preferred stock redemptions. The Notes’ conversion price was adjusted to approximately $0.57 per share of common stock, equal to about 43.85 shares for each $25.00 of principal, reflecting a 45% discount to the $1.04 volume-weighted average common share price.
On the April 6, 2026 Holder Redemption Date, holders redeemed 5,200 Series D Cumulative Convertible Preferred shares at a Redemption Price of about $41.28 per share, settled through issuance of 207,066 common shares. Cumulatively, 1,782,283 Series D preferred shares have been redeemed with roughly 600,000 common shares issued, leaving 1,813,124 common shares and 1,715,095 Series D preferred shares outstanding as of April 6, 2026.