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Wheeler Real Estate Investment Trust, Inc. (WHLR) stock has hit a distressing 52-week low, trading at just $1.02. This significant drop reflects a tumultuous period for the company, with the stock price crumbling from previous levels. According to InvestingPro data, the company maintains solid fundamentals with a current ratio of 2.18 and generates annual revenue of $104.31M with EBITDA of $55.06M. Over the past year, WHLR has experienced a staggering 99.78% decrease in its stock value, indicating profound challenges and investor concerns about the firm’s performance and future prospects. This sharp decline has undoubtedly shaken shareholder confidence and raised questions about the company’s strategic direction and financial health. InvestingPro analysis suggests the stock is currently in oversold territory, with 10+ additional exclusive insights available to subscribers.
In other recent news, Wheeler Real Estate Investment Trust, Inc. announced a one-for-five reverse stock split of its common stock, effective March 26, 2025. This corporate action will adjust the conversion rates for the company’s convertible securities, including the 7.00% subordinated convertible notes due 2031 and the Series B and Series D Convertible Preferred Stock. Additionally, the company revealed adjustments to the conversion price of its 7.00% Subordinated Convertible Notes, now set at approximately $0.91 per share of common stock, following redemptions of Series D Cumulative Convertible Preferred Stock. Wheeler REIT has processed multiple redemption requests, resulting in the issuance of common stock in exchange for Series D Preferred Stock. In another development, Wheeler REIT completed an unregistered exchange of equity securities, issuing 1,071,200 shares of common stock in exchange for preferred stock, which were then retired and canceled. These recent developments reflect Wheeler REIT’s strategic efforts to manage its capital structure and provide liquidity to its preferred stockholders.
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