Wheeler Real Estate: 2Q Earnings Snapshot
VIRGINIA BEACH, Va. (AP) _ Wheeler Real Estate Investment Trust Inc. (WHLR) on Tuesday reported a key measure of profitability in its second quarter.
The real estate investment trust, based in Virginia Beach, Virginia, said it had funds from operations of $2.4 million, or 25 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 $4.7 million, or 51 cents per share.
The real estate investment trust posted revenue of $17.1 million in the period.
The company’s shares have dropped 50 percent since the beginning of the year. The stock has declined 53 percent in the last 12 months.