$WHLR
Wheeler Real Estate Investment Trust, Inc.

2020 Q1 Form 10-K Financial Statement

#000152754120000025 Filed on February 26, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 2018 Q4
Revenue $15.57M $63.16M $15.97M
YoY Change -2.63% -3.24% 11.71%
Cost Of Revenue $4.720M $19.13M $4.670M
YoY Change -0.21% 3.57% 19.13%
Gross Profit $10.85M $44.04M $11.30M
YoY Change -3.73% -5.9% 8.97%
Gross Profit Margin 69.67% 69.73% 70.76%
Selling, General & Admin $1.870M $6.660M $1.770M
YoY Change 1.63% -19.76% -7.33%
% of Gross Profit 17.24% 15.12% 15.66%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.940M $12.02M $6.150M
YoY Change -7.84% -5.06% 6.59%
% of Gross Profit 27.1% 27.29% 54.42%
Operating Expenses $6.680M $53.70M $7.920M
YoY Change -46.04% -17.74% -21.35%
Operating Profit $3.554M $10.85M $3.380M
YoY Change -34.85% 342.12% -168.26%
Interest Expense $4.399M $18.98M -$5.290M
YoY Change -8.22% -6.15% 38.85%
% of Operating Profit 123.78% 174.89% -156.51%
Other Income/Expense, Net -$440.0K
YoY Change
Pretax Income -$1.869M -$8.129M -$12.92M
YoY Change -381.9% -54.25% 47.49%
Income Tax $8.000K $15.00K -$30.00K
% Of Pretax Income
Net Earnings -$1.868M -$8.039M -$12.55M
YoY Change -390.97% -51.28% 53.05%
Net Earnings / Revenue -11.99% -12.73% -78.58%
Basic Earnings Per Share
Diluted Earnings Per Share -$193.0K -$831.4K -$1.322M
COMMON SHARES
Basic Shares Outstanding 9.694M shares 9.453M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q1 2019 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.700M $5.500M $3.500M
YoY Change 59.52% 57.14% -5.41%
Cash & Equivalents $6.695M $5.500M $3.544M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $6.126M $5.539M
Other Receivables
Total Short-Term Assets $12.80M $12.40M $9.000M
YoY Change 30.61% 37.78% -3.23%
LONG-TERM ASSETS
Property, Plant & Equipment $418.4M $427.9M $436.0M
YoY Change -3.75% -1.86% 16.2%
Goodwill $0.00
YoY Change -100.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $43.10M $38.90M $50.60M
YoY Change -18.53% -23.12% -3.07%
Total Long-Term Assets $466.3M $472.0M $499.1M
YoY Change -6.6% -5.43% 11.31%
TOTAL ASSETS
Total Short-Term Assets $12.80M $12.40M $9.000M
Total Long-Term Assets $466.3M $472.0M $499.1M
Total Assets $479.1M $484.4M $508.1M
YoY Change -5.88% -4.66% 11.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.500M $9.600M $12.10M
YoY Change -9.52% -20.66% 14.15%
Accrued Expenses $11.90M $11.90M
YoY Change -0.83%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $21.40M $21.50M $12.10M
YoY Change -4.89% 77.69% -24.84%
LONG-TERM LIABILITIES
Long-Term Debt $336.3M $340.9M $360.2M
YoY Change -3.56% -5.36% 17.18%
Other Long-Term Liabilities $10.10M $8.700M $14.60M
YoY Change -36.48% -40.41% 40.38%
Total Long-Term Liabilities $346.4M $349.6M $374.8M
YoY Change -4.99% -6.72% 17.94%
TOTAL LIABILITIES
Total Short-Term Liabilities $21.40M $21.50M $12.10M
Total Long-Term Liabilities $346.4M $349.6M $374.8M
Total Liabilities $367.8M $373.2M $386.9M
YoY Change -4.98% -4.09% 15.88%
SHAREHOLDERS EQUITY
Retained Earnings -$256.0M -$233.2M
YoY Change 8.89% 13.79%
Common Stock $97.00K $95.00K
YoY Change 0.0% 9.2%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $19.49M $111.2M $42.06M
YoY Change
Total Liabilities & Shareholders Equity $479.1M $484.4M $508.1M
YoY Change -5.88% -4.66% 11.01%

Cashflow Statement

Concept 2020 Q1 2019 2018 Q4
OPERATING ACTIVITIES
Net Income -$1.868M -$8.039M -$12.55M
YoY Change -390.97% -51.28% 53.05%
Depreciation, Depletion And Amortization $2.940M $12.02M $6.150M
YoY Change -7.84% -5.06% 6.59%
Cash From Operating Activities $3.223M $15.25M $3.460M
YoY Change 19.5% -30.67% -30.8%
INVESTING ACTIVITIES
Capital Expenditures $326.0K $2.711M -$1.720M
YoY Change 14.39% -51.36% -43.61%
Acquisitions
YoY Change
Other Investing Activities $1.670M $3.600M $290.0K
YoY Change -53.61% -42.58% -583.33%
Cash From Investing Activities $1.339M $868.0K -$1.430M
YoY Change -59.64% -103.87% -54.02%
FINANCING ACTIVITIES
Cash Dividend Paid $0.00
YoY Change -100.0%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$2.915M -$12.53M -4.380M
YoY Change -46.11% -303.36% -10.61%
NET CHANGE
Cash From Operating Activities $3.223M $15.25M 3.460M
Cash From Investing Activities $1.339M $868.0K -1.430M
Cash From Financing Activities -$2.915M -$12.53M -4.380M
Net Change In Cash $1.647M $3.592M -2.350M
YoY Change 171.78% -37.13% -21.93%
FREE CASH FLOW
Cash From Operating Activities $3.223M $15.25M $3.460M
Capital Expenditures $326.0K $2.711M -$1.720M
Free Cash Flow $2.897M $12.54M $5.180M
YoY Change 20.11% -23.65% -35.65%

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508081000 USD
CY2019Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
484365000 USD
CY2018Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Noncurrent
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationNoncurrent
4520000 USD
CY2019Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Noncurrent
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationNoncurrent
2026000 USD
CY2018Q4 us-gaap Long Term Debt
LongTermDebt
364468000 USD
CY2019Q4 us-gaap Long Term Debt
LongTermDebt
342887000 USD
CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
128906000 USD
CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
62068000 USD
CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
62070000 USD
CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
44020000 USD
CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
85326000 USD
CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
15646000 USD
CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
11093000 USD
CY2018Q3 us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
1000000 USD
CY2018 us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
0 USD
CY2018 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
261000 USD
CY2019 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
276000 USD
CY2018Q4 us-gaap Minority Interest
MinorityInterest
2194000 USD
CY2019Q4 us-gaap Minority Interest
MinorityInterest
2080000 USD
CY2018 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
6161000 USD
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-12529000 USD
CY2018 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-22450000 USD
CY2019 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
868000 USD
CY2018 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
22002000 USD
CY2019 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
15253000 USD
CY2018 us-gaap Net Income Loss
NetIncomeLoss
-16500000 USD
CY2019 us-gaap Net Income Loss
NetIncomeLoss
-8039000 USD
CY2018 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-29327000 USD
CY2019 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-22668000 USD
CY2019Q4 us-gaap Net Rentable Area
NetRentableArea
5619000 sqft
CY2018 us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
NoncashOrPartNoncashAcquisitionDebtAssumed1
58867000 USD
CY2019 us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
NoncashOrPartNoncashAcquisitionDebtAssumed1
0 USD
CY2018Q4 us-gaap Notes Receivable Related Parties Noncurrent
NotesReceivableRelatedPartiesNoncurrent
5000000 USD
CY2019Q4 us-gaap Notes Receivable Related Parties Noncurrent
NotesReceivableRelatedPartiesNoncurrent
0 USD
CY2019Q4 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
61 Buildings
CY2018Q4 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
10045000 USD
CY2019Q4 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
6716000 USD
CY2018 us-gaap Operating Expenses
OperatingExpenses
65283000 USD
CY2019 us-gaap Operating Expenses
OperatingExpenses
53702000 USD
CY2018 us-gaap Operating Income Loss
OperatingIncomeLoss
2455000 USD
CY2019 us-gaap Operating Income Loss
OperatingIncomeLoss
10854000 USD
CY2018 us-gaap Operating Lease Cost
OperatingLeaseCost
812000 USD
CY2018 us-gaap Payments Of Dividends
PaymentsOfDividends
14591000 USD
CY2019 us-gaap Payments Of Dividends
PaymentsOfDividends
0 USD
CY2018 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1870000 USD
CY2019 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
779000 USD
CY2018 us-gaap Payments To Acquire Commercial Real Estate
PaymentsToAcquireCommercialRealEstate
23153000 USD
CY2019 us-gaap Payments To Acquire Commercial Real Estate
PaymentsToAcquireCommercialRealEstate
24000 USD
CY2018 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5574000 USD
CY2019 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2711000 USD
CY2018Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
0 USD
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
11921000 USD
CY2018 us-gaap Operating Lease Payments
OperatingLeasePayments
0 USD
CY2019 us-gaap Operating Lease Payments
OperatingLeasePayments
644000 USD
CY2018Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
0 USD
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
11651000 USD
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P35Y
CY2018 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
63036000 USD
CY2019 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
62442000 USD
CY2018Q4 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
12116000 USD
CY2019Q4 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
9557000 USD
CY2018Q4 us-gaap Other Assets
OtherAssets
716000 USD
CY2019Q4 us-gaap Other Assets
OtherAssets
588000 USD
CY2018Q3 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
250000 USD
CY2018 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
250000 USD
CY2019 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
0 USD
CY2018 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
300000 USD
CY2019 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
26000 USD
CY2018 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-2363000 USD
CY2019 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1707000 USD
CY2018 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
576000 USD
CY2019 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
144000 USD
CY2018 us-gaap Other Preferred Stock Dividends And Adjustments
OtherPreferredStockDividendsAndAdjustments
3037000 USD
CY2019 us-gaap Other Preferred Stock Dividends And Adjustments
OtherPreferredStockDividendsAndAdjustments
14629000 USD
CY2018 us-gaap Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
8378000 USD
CY2019 us-gaap Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
6633000 USD
CY2018 us-gaap Preferred Stock Accretion Of Redemption Discount
PreferredStockAccretionOfRedemptionDiscount
678000 USD
CY2019 us-gaap Preferred Stock Accretion Of Redemption Discount
PreferredStockAccretionOfRedemptionDiscount
680000 USD
CY2018 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
9790000 USD
CY2019 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
0 USD
CY2019Q4 us-gaap Preferred Stock Redemption Price Per Share
PreferredStockRedemptionPricePerShare
25.00
CY2018 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
21158000 USD
CY2019 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
0 USD
CY2018 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
30534000 USD
CY2019 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
31665000 USD
CY2018 us-gaap Proceeds From Sale Of Other Real Estate
ProceedsFromSaleOfOtherRealEstate
3530000 USD
CY2019 us-gaap Proceeds From Sale Of Other Real Estate
ProceedsFromSaleOfOtherRealEstate
3584000 USD
CY2018 us-gaap Proceeds From Sale Of Property Held For Sale
ProceedsFromSaleOfPropertyHeldForSale
2747000 USD
CY2019 us-gaap Proceeds From Sale Of Property Held For Sale
ProceedsFromSaleOfPropertyHeldForSale
19000 USD
CY2018 us-gaap Professional Fees
ProfessionalFees
2844000 USD
CY2019 us-gaap Professional Fees
ProfessionalFees
2534000 USD
CY2018 us-gaap Profit Loss
ProfitLoss
-16906000 USD
CY2019 us-gaap Profit Loss
ProfitLoss
-8144000 USD
CY2019 us-gaap Property Management Fee Percent Fee
PropertyManagementFeePercentFee
0.03
CY2018 us-gaap Property Management Fee Revenue
PropertyManagementFeeRevenue
266000 USD
CY2019 us-gaap Property Management Fee Revenue
PropertyManagementFeeRevenue
60000 USD
CY2018 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
511000 USD
CY2019 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
449000 USD
CY2018 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
511000 USD
CY2019 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
449000 USD
CY2019Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
50633000 USD
CY2019Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements
367562000 USD
CY2019Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Land
RealEstateAndAccumulatedDepreciationCarryingAmountOfLand
100937000 USD
CY2019Q4 us-gaap Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Carrying Costs
RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionCarryingCosts
0 USD
CY2019Q4 us-gaap Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Improvements
RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements
17256000 USD
CY2019Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements
352365000 USD
CY2019Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Land
RealEstateAndAccumulatedDepreciationInitialCostOfLand
98878000 USD
CY2018 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
10035000 USD
CY2019 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
14752000 USD
CY2017Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
415379000 USD
CY2018Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
482103000 USD
CY2019Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
468499000 USD
CY2018 us-gaap Real Estate Improvements
RealEstateImprovements
5574000 USD
CY2019 us-gaap Real Estate Improvements
RealEstateImprovements
2711000 USD
CY2018Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
40189000 USD
CY2019Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
50466000 USD
CY2018Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
476195000 USD
CY2019Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
466681000 USD
CY2018Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
436006000 USD
CY2019Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
416215000 USD
CY2018 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
75123000 USD
CY2019 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
35000 USD
CY2018 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
28977000 USD
CY2019 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
43415000 USD
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
14455000 USD
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
16140000 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-233184000 USD
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-251580000 USD
CY2018 us-gaap Revenues
Revenues
65275000 USD
CY2019 us-gaap Revenues
Revenues
63162000 USD
CY2018 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 USD
CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
11904000 USD
CY2018 us-gaap Sec Schedule Iii Real Estate Writedown Or Reserve Amount
SECScheduleIIIRealEstateWritedownOrReserveAmount
3938000 USD
CY2019 us-gaap Sec Schedule Iii Real Estate Writedown Or Reserve Amount
SECScheduleIIIRealEstateWritedownOrReserveAmount
1598000 USD
CY2018 us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
2673000 USD
CY2018Q4 whlr Disposal Group Including Discontinued Operation Liabilities Noncurrent Netof Deferred Finance Costs
DisposalGroupIncludingDiscontinuedOperationLiabilitiesNoncurrentNetofDeferredFinanceCosts
4278000 USD
CY2019Q4 whlr Disposal Group Including Discontinued Operation Liabilities Noncurrent Netof Deferred Finance Costs
DisposalGroupIncludingDiscontinuedOperationLiabilitiesNoncurrentNetofDeferredFinanceCosts
1974000 USD
CY2018 whlr Generaland Administrative Expense Allocatedto Non Reit Managementand Leasing Services
GeneralandAdministrativeExpenseAllocatedtoNonREITManagementandLeasingServices
150000 USD
CY2019 whlr Generaland Administrative Expense Allocatedto Non Reit Managementand Leasing Services
GeneralandAdministrativeExpenseAllocatedtoNonREITManagementandLeasingServices
0 USD
CY2019 us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
1991000 USD
CY2018Q4 us-gaap Secured Debt
SecuredDebt
360190000 USD
CY2019Q4 us-gaap Secured Debt
SecuredDebt
340913000 USD
CY2018 us-gaap Share Based Compensation
ShareBasedCompensation
940000 USD
CY2019 us-gaap Share Based Compensation
ShareBasedCompensation
2000 USD
CY2018 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
1130000 USD
CY2018 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
50000 USD
CY2018 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1057000 USD
CY2019 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
166000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
42061000 USD
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
23927000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
70596000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
44255000 USD
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
26007000 USD
CY2018 us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
20000 USD
CY2019 us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
188000 USD
CY2018 us-gaap Taxes And Licenses
TaxesAndLicenses
212000 USD
CY2019 us-gaap Taxes And Licenses
TaxesAndLicenses
206000 USD
CY2018 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
240000 USD
CY2019 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
197000 USD
CY2018 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
9256234 shares
CY2019 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
9671847 shares
CY2019 whlr Asset Management Fee Percent Fee
AssetManagementFeePercentFee
0.02
CY2014Q4 whlr Business Combination Restriction Periodfor Equity Interests Issuedand Issuable
BusinessCombinationRestrictionPeriodforEquityInterestsIssuedandIssuable
P1Y
CY2018 whlr Corporate Administration Expense
CorporateAdministrationExpense
1272000 USD
CY2019 whlr Corporate Administration Expense
CorporateAdministrationExpense
1259000 USD
CY2018 whlr Disposal Group Including Discontinued Operation Impairmentof Real Estate
DisposalGroupIncludingDiscontinuedOperationImpairmentofRealEstate
0 USD
CY2019 whlr Disposal Group Including Discontinued Operation Impairmentof Real Estate
DisposalGroupIncludingDiscontinuedOperationImpairmentofRealEstate
1598000 USD
CY2019 whlr Insurance Coverage Amount
InsuranceCoverageAmount
250000 USD
CY2019Q4 whlr Lessor Operating Lease Optionto Extend Amount
LessorOperatingLeaseOptiontoExtendAmount
7540000 USD
CY2019 whlr Maturity Of Highly Liquid Investments
MaturityOfHighlyLiquidInvestments
P90D
CY2019 whlr Minimum Percentage Of Distribution Of Taxable Income To Stockholders
MinimumPercentageOfDistributionOfTaxableIncomeToStockholders
0.90
CY2018 whlr Noncashor Part Noncash Acquisition Interest Acquired Value
NoncashorPartNoncashAcquisitionInterestAcquiredValue
1130000 USD
CY2019 whlr Noncashor Part Noncash Acquisition Interest Acquired Value
NoncashorPartNoncashAcquisitionInterestAcquiredValue
0 USD
CY2019Q4 whlr Number Of Office Buildings
NumberOfOfficeBuildings
1 Building
CY2019Q4 whlr Numberof Real Estate Properties Undeveloped
NumberofRealEstatePropertiesUndeveloped
6 property
CY2019Q3 whlr Numberof Undeveloped Land Parcels
NumberofUndevelopedLandParcels
6 parcel
CY2019 whlr Occupancy Level Percentage
OccupancyLevelPercentage
0.898
CY2018Q4 whlr Offmarketlease Favorable
OffmarketleaseFavorable
7346000 USD
CY2019Q4 whlr Offmarketlease Favorable
OffmarketleaseFavorable
5241000 USD
CY2019 whlr Past Due Rent Term
PastDueRentTerm
P5D
CY2019Q4 whlr Percentage Of Ownership Interests In Operating Partnership
PercentageOfOwnershipInterestsInOperatingPartnership
0.9834
CY2018 whlr Property Operating Costs
PropertyOperatingCosts
18473000 USD
CY2019 whlr Property Operating Costs
PropertyOperatingCosts
19127000 USD
CY2018 whlr Provision Recoveriesfor Doubtful Accounts
ProvisionRecoveriesforDoubtfulAccounts
511000 USD
CY2019 whlr Provision Recoveriesfor Doubtful Accounts
ProvisionRecoveriesforDoubtfulAccounts
449000 USD
CY2018 whlr Revenues Gross
RevenuesGross
65786000 USD
CY2019 whlr Revenues Gross
RevenuesGross
63611000 USD
CY2018Q4 whlr Secureddebtgrossofunamortizeddebtissuancecost
Secureddebtgrossofunamortizeddebtissuancecost
369612000 USD
CY2019Q4 whlr Secureddebtgrossofunamortizeddebtissuancecost
Secureddebtgrossofunamortizeddebtissuancecost
347059000 USD
CY2019Q4 whlr Shares Authorized
SharesAuthorized
33750000 shares
CY2019 whlr Stockholders Equity Note Unitsto Stock Conversion Ratio
StockholdersEquityNoteUnitstoStockConversionRatio
1
CY2018Q4 whlr Tenant Relationships
TenantRelationships
3764000 USD
CY2019Q4 whlr Tenant Relationships
TenantRelationships
2173000 USD
CY2019 whlr Term Of Disqualification To Be Taxed As Reit Due To Losses Of Reit Status
TermOfDisqualificationToBeTaxedAsReitDueToLossesOfReitStatus
P5Y
CY2019Q4 whlr Undeveloped Land Parcels
UndevelopedLandParcels
6 property
CY2019 us-gaap Intangible Assets Finite Lived Policy Costs Incurred To Renew Or Extend
IntangibleAssetsFiniteLivedPolicyCostsIncurredToRenewOrExtend
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Above and Below Market Lease Intangibles, net</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company determines the above and below market lease intangibles upon acquiring a property. Above and below market lease intangibles are amortized over the life of the respective leases. Amortization of above and below market lease intangibles is recorded as a component of rental revenues.</font></div></div>
CY2019 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Reclassifications</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company has reclassified certain prior period amounts in the accompanying consolidated financial statements in order to be consistent with the current period presentation. These reclassifications had no effect on net loss, total assets, total liabilities or equity. </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Tenant reimbursements and provision for credit losses were reclassified to rental revenues on the consolidated statements of operations to conform to 2019 presentation as a result of adopting ASU 2016-02, &#8220;Leases (Topic 842).&#8221; There are two reclassifications within the consolidated statement of cash flows, one pertains to the straight-line expense operating activity adjustment on those leases which the Company is a lessee and the other is the presentation of credit losses on operating lease receivables. These reclassifications did not impact cash provided by (used in) operating, investing, or financing activities.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">During 2019, it was determined that the </font><font style="font-family:inherit;font-size:10pt;">six</font><font style="font-family:inherit;font-size:10pt;"> undeveloped Land Parcels (the &#8220;Land Parcels&#8221;) previously classified as assets held for sale within discontinued operations at December 31, 2018 no longer meet the definition of assets held for sale. Management&#8217;s intention to sell the parcels has not changed; however, they are in secondary and tertiary markets with minimal land sales and it is not probable they will sell in the next twelve months. Accordingly, the assets and liabilities of the Land Parcels were reclassified to &#8220;land and land improvements&#8221; within investment properties for all periods presented, see Note 3, and the impairment losses related to the Land Parcels were reclassified to "impairment of real estate" within operating expenses on the consolidated statements of operations.</font></div></div>
CY2019 us-gaap Revenue Recognition Leases
RevenueRecognitionLeases
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Lease Contract Revenue</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company has two classes of underlying assets relating to rental revenue activity, retail and office space. The Company retains substantially all of the risks and benefits of ownership of these underlying assets and accounts for these leases as operating leases. The Company combines lease and nonlease components in lease contracts, which includes combining base rent and tenant reimbursement revenue.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company accrues minimum rents on a straight-line basis over the terms of the respective leases which results in an unbilled rent asset or deferred rent liability being recorded on the balance sheet. At December 31, 2019 and 2018, there were </font><font style="font-family:inherit;font-size:10pt;">$3.41 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$3.12 million</font><font style="font-family:inherit;font-size:10pt;">, respectively, in unbilled rent which is included in "rents and other tenant receivables, net." Additionally, certain of the lease agreements contain provisions that grant additional rents based on tenants&#8217; sales volumes (contingent or percentage rent). Percentage rents are recognized when the tenants achieve the specified targets as defined in their lease agreements as variable lease income.</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company&#8217;s leases generally require the tenant to reimburse the Company for a substantial portion of its expenses incurred in operating, maintaining, repairing, insuring and managing the shopping center and common areas (collectively defined as Common Area Maintenance or &#8220;CAM&#8221; expenses). This significantly reduces the Company&#8217;s exposure to increases in costs and operating expenses resulting from inflation or other outside factors. These reimbursements are considered nonlease components which the Company combines with the lease component. The Company calculates the tenant&#8217;s share of operating costs by multiplying the total amount of the operating costs by a fraction, the numerator of which is the total number of square feet being leased by the tenant, and the denominator of which is the average total square footage of all leasable buildings at the property. The Company also receives monthly payments for these reimbursements from substantially all its tenants throughout the year. The Company recognizes tenant reimbursements as variable lease income. The Company recognizes differences between estimated recoveries and the final billed amounts in the subsequent year. These differences were not material for the years ended December 31, 2019 and 2018.</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Additionally, the Company has tenants who pay real estate taxes directly to the taxing authority. The Company excludes these Company costs paid directly by the tenant to third parties on the Company&#8217;s behalf from both variable revenue payments recognized and the associated property operating expenses. The Company does not evaluate whether certain sales taxes and other similar taxes are the Company&#8217;s costs or tenants costs. Instead, the Company accounts for these costs as tenant costs. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company recognizes lease termination fees, which is included in "other revenues" on the consolidated statements of operations, in the year that the lease is terminated and collection of the fee is reasonably assured. Upon early lease termination, the Company provides for losses related to unrecovered intangibles and other assets. Lease termination fees during the year ended December 31, 2018 are primarily a result of early lease termination fees on SEG recaptures and the early termination of the Farm Fresh at Berkley Shopping Center.</font></div></div>
CY2019 us-gaap Revenue Recognition Services Commissions
RevenueRecognitionServicesCommissions
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Commissions</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Commissions are generated from Non-REIT properties. The Non-REIT Properties pay WRE leasing commissions based on the total contractual revenues to be generated under the new/renewed lease agreement (</font><font style="font-family:inherit;font-size:10pt;">6%</font><font style="font-family:inherit;font-size:10pt;"> for new leases and </font><font style="font-family:inherit;font-size:10pt;">3%</font><font style="font-family:inherit;font-size:10pt;"> for renewals). Revenues are governed by the leasing commission agreements for the various properties. Obligations under the agreements include and are not limited to: monitoring upcoming vacancies, new tenant identification, proposal preparation, lease negotiation, document preparation, etc. Each of the obligations are bundled together to be one service as the overall objective of these services is to maintain the overall occupancy of the property. Revenue is recognized and billed upon lease execution.</font></div></div>
CY2019 us-gaap Revenue Recognition Services Management Fees
RevenueRecognitionServicesManagementFees
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Asset Management Fees</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Asset management fees are generated from Non-REIT properties. The Non-REIT Properties pay WRE property management and/or asset management fees of </font><font style="font-family:inherit;font-size:10pt;">3%</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2%</font><font style="font-family:inherit;font-size:10pt;"> of collected revenues, respectively for services performed. Revenues are governed by the management fee agreements for the various properties. Obligations under the agreements include and are not limited to: managing of maintenance, janitorial, security, landscaping, vendors, back office (collecting rents, paying bills), etc. Each of the obligations are bundled together to be one service and are satisfied over time. Non-REIT Properties are billed monthly and typically pay monthly for these services.</font></div></div>
CY2019 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company has made estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and revenues and expenses during the reported periods. The Company&#8217;s actual results could differ from these estimates.</font></div></div>

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