Wheeler Real Estate Investment Trust, Inc. Makes an Announcement Regarding Preferred Dividends
December 20 2018 - 6:18PM
Wheeler Real Estate Investment Trust, Inc.
(NASDAQ:WHLR) (“WHLR” or the “Company”), a
fully-integrated, self-managed commercial real estate investment
company focused on owning and operating income-producing retail
properties with a primary focus on grocery-anchored centers, today
announced that, as part of its ongoing evaluation of strategic
alternatives, that it will not pay its anticipated fourth quarter
dividends on shares of its Series A Preferred Stock, Series B
Convertible Preferred Stock and Series D Cumulative Convertible
Preferred Stock at this time. These dividends represent quarterly
payments of $22.50, $0.5625 and $0.5469 per respective preferred
share and were anticipated to be paid in January 2019.
The Company intends to accelerate its efforts to
reduce short-term, higher cost debt where accretive and complete
strategic dispositions and refinancings, while continuing its
efforts to improve portfolio occupancy. The Company continues to
work through strategic alternatives with its advisors.
The Board of Directors will re-evaluate the
payment of the preferred dividends for the first quarter of 2019
when appropriate. All future communications regarding the Company’s
common stock and preferred shares, as well as the associated
dividends, will be made through public disclosures in due
course.
ABOUT WHEELER REAL ESTATE INVESTMENT TRUST,
INC.Headquartered in Virginia Beach, VA, Wheeler Real
Estate Investment Trust, Inc. is a fully-integrated, self-managed
commercial real estate investment company focused on owning and
operating income-producing retail properties with a primary focus
on grocery-anchored centers. Wheeler’s portfolio contains
well-located, potentially dominant retail properties in secondary
and tertiary markets that generate attractive, risk-adjusted
returns, with a particular emphasis on grocery-anchored retail
centers. For additional information about the Company, please
visit: www.whlr.us.
FORWARD LOOKING STATEMENTSThis press release
may contain “forward-looking” statements as defined in the Private
Securities Litigation Reform Act of 1995. When the Company uses
words such as “may,” “will,” “intend,” “should,” “believe,”
“expect,” “anticipate,” “project,” “estimate” or similar
expressions that do not relate solely to historical matters, it is
making forward-looking statements. Forward-looking statements are
not guarantees of future performance and involve risks and
uncertainties that may cause the actual results to differ
materially from the Company’s expectations discussed in the
forward-looking statements. The Company’s expected results may not
be achieved, and actual results may differ materially from
expectations. Specifically, the Company’s statements regarding: 1)
its efforts to reduce short-term, higher cost debt where accretive
and complete strategic dispositions and refinancings, while
continuing its efforts to improve portfolio occupancy; and 2)
preferred dividend payments and disclosure of such information are
forward looking statements. These statements are not guarantees of
future performance and are subject to risks, uncertainties and
other factors, some of which are beyond our control, are difficult
to predict and could cause actual results to differ materially from
those expressed or forecasted in the forward-looking statements.
For these reasons, among others, investors are cautioned not to
place undue reliance upon any forward-looking statements in this
press release.
Additional factors are discussed in the Company's filings with
the U.S. Securities and Exchange Commission, which are available
for review at www.sec.gov. The Company undertakes no obligation to
publicly revise these forward-looking statements to reflect events
or circumstances that arise after the date hereof.
Mary Jensen
Investor Relations(757) 627-9088mjensen@whlr.us
Wheeler Real Estate Inve... (NASDAQ:WHLR)
Historical Stock Chart
From Aug 2024 to Sep 2024
Wheeler Real Estate Inve... (NASDAQ:WHLR)
Historical Stock Chart
From Sep 2023 to Sep 2024