Wheeler Real Estate Investment Trust, Inc.

• Observed GAAP P/E is about 0.02x.
• Return on equity is about -204.0%.
• Debt to equity is about -0.0x.
• [TRIGGER] 8-K: 8-K (sec_8k_material) on WHLR — filing_type=8-K; max_severity=medium; ignored_items=['8.01']; material_items=['3.02']; all_items_found=['3.02', '8.01']; severity_per_code={'3.02': 'medium'}; contributing_watchers=sec_8k_material (source=sec_8k_material; url=0001527541-26-000207)
• Companyfacts coverage was partial; recent filing facts backfilled intangible_assets.
• Factors that could cause actual results, performance or achievements to differ materially from any forward-looking statements made in this Form 10-Q include, but are not limited to: • the use of and demand for retail space, including in relation to reductions in consumer spending, variability in retailer demand for leased space, adverse impact of e-commerce, ongoing consolidation in the retail sector and changes in economic conditions and consumer confidence; • general and economic business conditions, including the rate and other terms on which we are able to lease our properties; • the loss or bankruptcy of the Company's tenants; • the geographic concentration of our properties in the Mid-Atlantic, Southeast and Northeast; • availability, terms and deployment of capital; • substantial dilution of our common stock, par value $0.01 ("Common Stock") and steep decline in its market value resulting from the exercise by the holders of our Series D Cumulative Convertible Preferred Stock (the "Series D Preferred Stock") of their redemption rights and downward adjustment of the conversion price on our outstanding 7.00% Subordinated Convertible Notes due 2031 (the "Convertible Notes"), each of which has already occurred and is anticipated to continue; • given the volatility in the trading of our Common Stock, whether we have registered and, as necessary, can continue to register sufficient shares of our Common Stock to settle redemptions of all Series D Preferred Stock tendered to us by the holders thereof; • the degree and nature of our competition; • our ability to hire, develop and/or retain talent; • changes in applicable laws and governmental regulations, including federal tax law and other regulatory provisions; • changes to accounting rules, tax rates and similar matters, including tariff-related measures; • the ability and willingness of the Company’s tenants and other third parties to satisfy their obligations under their respective contractual arrangements with the Company; • the ability and willingness of the Company’s tenants to renew their leases with the Company upon expiration; • the Company’s ability to re-lease its properties on the same or better terms in the event of non-renewal or in the event the Company exercises its right to replace an existing tenant, and obligations the Company may incur in connection with the replacement of an existing tenant; • litigation risks generally; • the risk that shareholder litigation in connection with the Cedar Acquisition (as defined below) may result in significant indemnification costs; • tax audits and other regulatory inquiries; • the Company's ability to maintain compliance with the financial and other covenants in its debt agreements and under the terms of its Series D Preferred Stock; 4 Table of Contents • financing risks, such as the Company’s inability to obtain new financing or refinancing on favorable terms as the result of market volatility or instability and increases in the Company’s borrowing costs as a result of changes in interest rates and other factors; • the impact of the Company’s leverage on operating performance; • our ability to successfully execute strategic or necessary asset acquisitions and divestitures; • our ability to repurchase noncontrolling interests and the price and timing of such repurchases; • risks endemic to real estate and the real estate industry generally; • the adverse effect of any future pandemic, endemic or outbreak of infectious diseases, and mitigation efforts, including government-imposed lockdowns, to control their spread; • competitive risks; • risks to our information systems - or those of our tenants or vendors - from service interruption, misappropriation of data, breaches of security or information technology, or other cyber-related attacks; • the Company’s ability to maintain compliance with the listing standards of the Nasdaq Capital Market ("Nasdaq"); • the effects on the trading market of our Common Stock of the one-for-four reverse stock split effected on January 27, 2025 (the "January 2025 Reverse Stock Split"), the one-for-five reverse stock split effected on March 26, 2025 (the "March 2025 Reverse Stock Split"), the one-for-seven reverse stock split effected on May 26, 2025 (the "May 2025 Reverse Stock Split"), the one-for-five reverse stock split effected on September 22, 2025 (the "September 2025 Reverse Stock Split") and the one-for-two reverse stock split effected on November 28, 2025 (the "November 2025 Reverse Stock Split"; and together with the January 2025 Reverse Stock Split, March 2025 Reverse Stock Split, May 2025 Reverse Stock Split and September 2025 Reverse Stock Split, the "2025 Reverse Stock Splits"); and the one-for-three reverse stock split effected on January 16, 2026 (the "January 2026 Reverse Stock Split") and the one-for-three reverse stock split effected on April 17, 2026 (the "April 2026 Reverse Stock Split"; and together with the January 2026 Reverse Stock Split and the 2025 Reverse Stock Splits, the "Reverse Stock Splits") and any reverse stock splits the Company may effect in the future; • damage to the Company’s properties from catastrophic weather and other natural events, and the physical effects of climate change; • the risk that an uninsured loss on the Company’s properties or a loss that exceeds the limits of the Company’s insurance policies could subject the Company to lost capital or revenue on those properties; • the risk that continued increases in the cost of necessary insurance could negatively impact the Company's profitability; • the Company’s ability and willingness to maintain its qualification as a real estate investment trust ("REIT") in light of economic, market, legal, tax and other considerations; • the ability of our operating partnership, Wheeler REIT, L.P.

Bull / Bear case

Estimate revisions