Wheeler Real Estate: 3Q Earnings Snapshot
VIRGINIA BEACH, Va. (AP) _ Wheeler Real Estate Investment Trust Inc. (WHLR) on Tuesday reported a key measure of profitability in its third quarter.
The real estate investment trust, based in Virginia Beach, Virginia, said it had funds from operations of $1.3 million, or 13 cents per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had a loss of $3.8 million, or 41 cents per share.
The real estate investment trust posted revenue of $16.2 million in the period.
The company’s shares closed at $3.66. A year ago, they were trading at $8.54.