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Wheeler Real Estate Investment Trust, Inc. (WHLR) stock has reached a new 52-week low, trading at $2.78. Despite challenges, the company maintains a healthy current ratio of 1.3 and generates an EBITDA of $53.77 million, with a robust gross profit margin of 66%. This latest price point underscores a significant downturn for the company, which has seen its stock value plummet over the past year. The 1-year change data for WHLR paints a stark picture, with the stock experiencing a precipitous drop of -99.36%. According to InvestingPro analysis, the stock’s RSI indicates oversold territory, suggesting potential for a technical rebound. This dramatic decline has alarmed investors and market analysts alike, as the company grapples with challenges that have eroded shareholder value and raised concerns about its future prospects. For deeper insights and 11 additional ProTips on WHLR, consider exploring InvestingPro.
In other recent news, Wheeler Real Estate Investment Trust, Inc. has made several significant financial adjustments and strategic moves. The company has adjusted the conversion price of its 7.00% Subordinated Convertible Notes due 2031, following multiple redemptions of its Series D Cumulative Convertible Preferred Stock. The conversion price for the notes has been reduced to approximately $2.06 per share, offering a 45% discount to the previous conversion price. Additionally, Wheeler REIT has announced a one-for-four reverse stock split of its common stock, effective from January 28, 2025, which aims to consolidate outstanding shares and adjust conversion rates for various securities.
In another strategic move, Wheeler REIT completed an unregistered equity swap, issuing 1,071,200 shares of common stock in exchange for preferred stock, as part of its capital management efforts. These exchanges did not result in any cash proceeds for the company. The company has also processed numerous redemption requests, issuing common stock in settlement and reducing the outstanding shares of Series D Preferred Stock. These developments underscore Wheeler REIT’s ongoing efforts to restructure its capital and provide liquidity to its stockholders.
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