WHLRLNasdaqReal Estate Investment TrustsUS GAAP · USD

Wheeler Real Estate Investment Trust, Inc.

Wheeler Real Estate Investment Trust, Inc. is a Maryland-based real estate investment trust that owns, leases, and operates income-producing retail properties in the United States. Its portfolio is centered on grocery-anchored shopping centers, neighborhood centers, community centers, and select free-standing retail properties, with a structure that includes an operating partnership and subsidiary REIT platform.

Kysy yhtiöstä
Liikevaihto99,4milj. USD
−4,9 %v/v
Liikevoitto (EBIT)43,2milj. USD
+15,2 %v/v
EBIT-marginaali43,5%
+7,6 %-yks.v/v
Nettotulos8,8milj. USD
+191,6 %v/v
Vapaa kassavirta21,1milj. USD
−18,7 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

0255075100125milj. USD2020: 61 milj. USD2020: EBIT 18 milj. USD20202021: 61 milj. USD2021: EBIT 20 milj. USD20212022: 77 milj. USD2022: EBIT 25 milj. USD20222023: 102 milj. USD2023: EBIT 29 milj. USD20232024: 105 milj. USD2024: EBIT 38 milj. USD20242025: 99 milj. USD2025: EBIT 43 milj. USD20259943
LiikevaihtoLiikevoitto (EBIT)
Kysy Clarifolta: Wheeler Real Estate Investment Trust, Inc.

Liiketoiminta

Osuus liikevaihdosta
Grocery-anchored shopping centers70 %

Retail centers anchored by supermarkets and daily-needs tenants that drive frequent customer traffic.

Neighborhood and community centers20 %

Smaller retail properties serving local convenience, service, and essential shopping needs.

Free-standing retail properties5 %

Standalone retail buildings leased to single or limited tenants in local trade areas.

Undeveloped land parcels5 %

Land held for future retail development or disposition.

Tuotteet

Raportoitu · osuus liikevaihdosta
98,1%FY2025100 %
  • Other Services98,1 %
  • Lease Termination Fees1,9 %

Lähde: 10-K FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

The company’s tenants are primarily national and regional retailers that sell consumer goods and services used in everyday life. Its properties are designed to attract traffic from surrounding residential communities, so tenant demand is tied to local population density, household income, and convenience-oriented shopping patterns.

Grocery anchors

Supermarkets and food retailers that anchor centers and generate recurring foot traffic.

National retail chains

Large tenants leasing inline space or pads for convenience and brand visibility.

Regional and local service tenants

Pharmacies, personal services, restaurants, and other necessity-based operators.

Community-based shoppers

End consumers who visit the centers for routine shopping and services, supporting tenant sales.

Strategia

The company’s strategy is to own necessity-based retail properties in communities with stable demographics and steady consumer traffic. It focuses on grocery-anchored centers in in-fill markets, where essential tenants and daily-needs shopping support durable occupancy and leasing demand.

Maintain a grocery-anchored, necessity-based portfolioKeskipitkä aikaväli

Essential retailers tend to generate repeat traffic and more stable occupancy.

Concentrate in strong local trade areasKeskipitkä aikaväli

In-fill locations with favorable demographics support tenant sales and leasing demand.

Actively manage the portfolio mixLyhyt aikaväli

Dispositions and selective asset management can improve portfolio quality and focus.

Maantiede

Wheeler’s portfolio is concentrated in the Mid-Atlantic, Southeast, and Northeast regions of the United States. As of December 31, 2025, those markets represented approximately 47%, 45%, and 8% of annualized base rent, respectively, making local economic conditions and regional tenant demand important to performance.

Riskit

The main risks come from concentration in retail real estate, dependence on anchor tenants, and exposure to regional economic conditions. Because the portfolio is heavily weighted toward a few U.S. regions and necessity-based shopping centers, tenant closures, weaker local demand, or adverse market conditions can affect occupancy and rental income.

Järjestetty vakavuuden mukaan
Regional concentrationKorkea

A large share of base rent comes from the Mid-Atlantic and Southeast.

Kohdistuu: U.S. regional retail markets

Anchor tenant dependenceKorkea

Shopping centers rely on major tenants to drive traffic and support smaller tenants.

Kohdistuu: Grocery-anchored centers

Retail leasing and renewal riskKeskitaso

Vacancies or weaker renewal spreads can reduce cash flow and occupancy.

Kohdistuu: Neighborhood and community centers

Property valuation and market riskKeskitaso

Retail real estate values can move with interest rates, cap rates, and local demand.

Kohdistuu: Portfolio fair values and dispositions

Kysy Clarifolta: Wheeler Real Estate Investment Trust, Inc.

Kirjanpito

Harkinnanvaraiset erät
Lease revenue recognition and straight-line rent

Retail leases often include fixed escalators and timing differences between cash and GAAP rent.

Vaikutus: Affects reported rental income and comparability across periods

Real estate impairment and fair value estimates

Property values depend on assumptions about cash flow, occupancy, and capitalization rates.

Vaikutus: Can materially affect asset values and gain/loss on sale

Tenant credit losses and collectability

Retail tenants may face financial stress, affecting receivables and reserve estimates.

Vaikutus: Affects bad debt expense and net operating income

Lease accounting and property-related commitments

Ground leases and other contractual obligations require judgment in measurement and disclosure.

Vaikutus: Affects liabilities, expenses, and cash flow presentation

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Päivitetty: 29.4.2026