The shares of Wheeler Real Estate Investment Trust (WHLR) were trading at $3.79 in the pre-trading session, an increase of 16.62%. In last trading session, WHLR stock rose 20.82% to $3.25. WHLR recorded a trading volume of 1.37 million shares, below the 0.18 million shares published for the last 50 days as the average daily trading volume. Within the last five days, the price of WHLR stock has retreated 21.27%, but over the past month, it has plunged -36.27%.
WHLR stock has fallen -20.73% over the last three months and has gained 75.68 percent so far this year. A price to cash flow ratio of 2.27 and a price to sales ratio of 0.54 are also listed for WHLR stock. There may be some reasons to believe that recent developments will reveal more information about the company since the WHLR stock is rising in the absence of current news.
What has occurred at WHLR Stock recently?
Wheeler’s headquarters are in Virginia Beach, Virginia. WHLR is a fully integrated and self-managed commercial real estate investment trust (REIT). WHLR focuses on owning and operating income-producing retail properties, especially grocery-anchored properties.
Wheeler recently commenced a rights offering to eligible stockholders of the company (the “rights offering”).
- WHLR’s offering consists of its 7.00% senior subordinated convertible notes due 2031 (the “Notes”) for an aggregate principal amount of up to $30 million.
- Holders of WHLR common stock as of June 1, 2021 (the “record date”) will receive non-transferable subscription rights (the “rights”) to purchase Notes as part of the rights offering.
- On the record date, the holders will receive one (1) right per eight (8) shares of WHLR common stock owned by them.
- Each right entitles the holder to subscribe to $25.00 principal amount of Notes (the “basic subscription privilege”).
- Rights holders will also have the ability to subscribe for additional WHLR Notes if they fully exercise their basic subscription privileges (the “oversubscription privilege”).
- Unless extended or earlier terminated by WHLR, the rights offering will expire on August 13, 2021.
More from WHLR:
This quarter, Wheeler (WHLR) shared the results of its modified Dutch auction tender offer, which expired on May 14, 2021. A total of 103,513 Series D cumulative convertible preferred stock of WHLR was properly tendered and was not withdrawn in total. As the tender offer was undersubscribed, WHLR acquired all validly tendered shares at a price of $18.00 per share, representing an aggregate cost of $1,863,234.00, exclusive of fees and expenses associated with the tender offer.
