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Wheeler Real Estate Investment Trust, Inc. (WHLR) stock has reached a new 52-week low, trading at $2.92. According to InvestingPro data, the company maintains healthy liquidity with a current ratio of 2.18 and generates annual revenue of $104.31M. Technical indicators suggest the stock is currently in oversold territory. This latest price point underscores a period of 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 value eroding by an alarming -99.86%. This drastic decline has left investors and analysts closely monitoring the company's performance and potential strategies to stabilize and regain value in the market. InvestingPro analysis suggests the stock may be undervalued at current levels, with 12 additional exclusive insights available to subscribers.
In other recent news, Wheeler Real Estate Investment Trust, Inc. has announced several significant developments. The company reported a $10 million loan secured by its subsidiaries, Cedar Realty (NYSE:CDR) Trust, Inc. and Cedar Realty Trust Partnership, L.P., from KeyBank National Association. This loan will support Cedar's tender offer to purchase shares of its Series B Cumulative Redeemable Preferred Stock, with the transaction expected to close by April 2025. Additionally, Wheeler REIT has implemented a one-for-five reverse stock split of its common stock, effective March 26, 2025, which will affect the company's convertible securities and preferred stocks.
Furthermore, the company has adjusted the conversion price of its 7.00% Subordinated Convertible Notes due 2031, following redemptions of its Series D Cumulative Convertible Preferred Stock. This adjustment has resulted in a new conversion rate of approximately $0.91 per share of common stock. Wheeler REIT has processed numerous redemption requests for its Series D Preferred Stock, issuing common stock to settle these transactions. The company has also announced a separate one-for-four reverse stock split, effective January 28, 2025, which will consolidate its outstanding shares. These strategic moves reflect Wheeler REIT's ongoing efforts to manage its capital structure and financial obligations.
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