Wheeler Real Estate Investment Trust (NASDAQ:WHLR) Shares Set to Reverse Split on Tuesday, September 22nd

Wheeler Real Estate Investment Trust, Inc. (NASDAQ:WHLR) shares are scheduled to reverse split on Tuesday, September 22nd. The 1-9 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Monday, September 21st.

Wheeler Real Estate Investment Trust Stock Down 29.1%

Shares of WHLR traded down $0.11 during midday trading on Friday, hitting $0.27. The company’s stock had a trading volume of 7,642,377 shares, compared to its average volume of 626,331. Wheeler Real Estate Investment Trust has a one year low of $0.27 and a one year high of $11,088.00. The company’s fifty day simple moving average is $2.65 and its two-hundred day simple moving average is $397.05. The stock has a market capitalization of $206,052.00, a price-to-earnings ratio of -0.00 and a beta of 1.05.

Wheeler Real Estate Investment Trust (NASDAQ:WHLR) last posted its earnings results on Thursday, August 6th. The real estate investment trust reported $34.98 EPS for the quarter. Wheeler Real Estate Investment Trust had a negative return on equity of 186.97% and a net margin of 14.99%.The firm had revenue of $22.48 million during the quarter.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Weiss Ratings raised Wheeler Real Estate Investment Trust from a “sell (d-)” rating to a “sell (d)” rating in a research report on Wednesday, August 26th. Wall Street Zen upgraded Wheeler Real Estate Investment Trust to a “hold” rating in a research note on Saturday, July 4th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Insiders Place Their Bets

In other news, major shareholder Financial Lp Hrt sold 3,329 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $9.80, for a total transaction of $32,624.20. Following the transaction, the insider directly owned 4,769 shares of the company’s stock, valued at approximately $46,736.20. This trade represents a 41.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders purchased 24,547 shares of company stock valued at $84,765. Insiders own 51.93% of the company’s stock.

Wheeler Real Estate Investment Trust Company Profile

Wheeler Real Estate Investment Trust, Inc is a publicly traded real estate investment trust focused on the acquisition, ownership and management of single-tenant, operationally essential real estate in the United States. The company targets free-standing properties leased to creditworthy tenants under long-term net leases, providing predictable income streams and capital preservation. Its portfolio spans a broad range of retail, service and light industrial properties, with an emphasis on assets where tenants are responsible for property taxes, insurance and maintenance.

The trust’s assets are primarily concentrated in consumer-oriented businesses such as discount retailers, quick-service restaurants and healthcare services, among others.