Wheeler Real Estate Investment Trust Inc. Common Stock (WHLR)

FairStock Score: 23/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look at Wheeler as a tiny retail REIT with 59 properties and only 49 employees. Filed figures show a turnaround: net income was $8.8M in FY2025 after losses of $9.6M in FY2024 and $4.7M in FY2023, which matches FairStock's computed Lynch category, TURNAROUND. But filed revenue is $1.8M in FY2025, down from $2.2M in FY2024 and $2.0M in FY2023, so the profit swing did not come from a growing top line. At the 2026-10-13 close, the price was $0.46 and market cap was $888,521. FairStock shows P/E 0.00, P/B N/A, dividend yield N/A, and no FFO or AFFO in my data. For a REIT, FFO/AFFO are the right measures; without them, and because depreciation distorts EPS and P/E, I cannot use EPS or a Graham Number to judge value. I would lean on dividend yield, leverage, revenue trend and price-to-book, but the first and last are missing. Leverage is worrying: D/E 4.52 and Altman Z-score -0.64. FairStock's ROCE is 3.11%, while its ROE is 22.57%, a gap that suggests accounting effects rather than a wide moat. Cash flow looks enormous - $24.1M trailing FCF and a 2709.2% FCF yield - but that is against a sub-$1M market cap, so it may be an anomaly or a genuine asset-value opportunity. Piotroski 6/9 and EV/EBITDA 5.88 offer some support, while the 52-week range of $0.31 to $71.10 signals extreme instability. FairStock Score 23/100 keeps me cautious. I would need FFO/AFFO, asset values, debt terms and dividend coverage before trusting this turnaround.

In plain English: Wheeler Real Estate Investment Trust owns shopping centers and some undeveloped land. The business has swung from losses to profit, but it is very small, carries a lot of debt, and its revenue has been shrinking. The stock price is very low and has been wildly unstable, so it is hard to call it cheap or expensive without better real estate earnings measures.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer