Wheeler Real Estate IT (WHLR) Raises Dividend to $0.56 Per Share

Wheeler Real Estate IT (NASDAQ:WHLR) announced a quarterly dividend on Monday, April 10th, NASDAQ reports. Investors of record on Friday, March 30th will be given a dividend of 0.5625 per share by the real estate investment trust on Sunday, April 15th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 57.25%. The ex-dividend date is Wednesday, March 28th. This is an increase from Wheeler Real Estate IT’s previous quarterly dividend of $0.42.

Shares of NASDAQ:WHLR traded up $0.16 during midday trading on Tuesday, reaching $3.93. The company had a trading volume of 123,544 shares, compared to its average volume of 214,065. The company has a debt-to-equity ratio of 10.54, a quick ratio of 2.32 and a current ratio of 2.32. The company has a market cap of $33.55, a P/E ratio of 2.88 and a beta of 1.17. Wheeler Real Estate IT has a 1-year low of $3.25 and a 1-year high of $13.98.

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Wheeler Real Estate IT (NASDAQ:WHLR) last released its earnings results on Tuesday, March 6th. The real estate investment trust reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($1.56). The company had revenue of $14.30 million during the quarter, compared to analyst estimates of $14.42 million. Wheeler Real Estate IT had a negative net margin of 20.66% and a negative return on equity of 29.96%.

In other Wheeler Real Estate IT news, CEO David Kelly purchased 15,000 shares of the stock in a transaction on Tuesday, March 20th. The shares were purchased at an average price of $3.44 per share, with a total value of $51,600.00. Following the completion of the transaction, the chief executive officer now directly owns 26,679 shares in the company, valued at $91,775.76. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.27% of the stock is owned by insiders.

WHLR has been the topic of a number of recent research reports. B. Riley lowered their target price on Wheeler Real Estate IT from $13.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, February 20th. Zacks Investment Research raised Wheeler Real Estate IT from a “strong sell” rating to a “hold” rating in a research report on Saturday, January 13th. Finally, ValuEngine downgraded Wheeler Real Estate IT from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $11.75.

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About Wheeler Real Estate IT

Headquartered in Virginia Beach, VA, Wheeler Real Estate Investment Trust, Inc is a fully-integrated, self-managed commercial real estate investment company focused on acquiring and managing 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.

Dividend History for Wheeler Real Estate IT (NASDAQ:WHLR)

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