In a recent transaction, Magnolia Capital Fund, LP has sold a portion of its holdings in Wheeler Real Estate Investment Trust, Inc. (NASDAQ:WHLRD), specifically its Series D Cumulative Convertible Preferred Stock. The sale totaled over $92,000 and was executed at prices ranging from $20.30 to $20.40 per share, with the average sale price reported as $20.30.
The transaction, which took place on September 11, 2024, involved the sale of 4,550 shares. Following this sale, Magnolia Capital Fund, LP, along with its general partner and investment manager, The Magnolia Group, LLC, and its managing member, Adam K. Peterson, are still indirectly associated with 270,706 shares of the Series D Preferred Stock of Wheeler Real Estate Investment Trust, Inc.
It's important to note that The Magnolia Group, LLC and Adam K. Peterson have disclaimed beneficial ownership of these shares, except to the extent of their pecuniary interest. This disclaimer is standard and does not imply any change in investment strategy or corporate relationship.
Investors and followers of Wheeler Real Estate Investment Trust, Inc. will be watching closely to see how this transaction might affect the market performance of the company's stock. Wheeler REIT, known for its portfolio of commercial real estate properties, has been a staple in many investment portfolios, particularly among those looking for exposure to the real estate sector.
This sale represents a typical activity by large stakeholders such as investment funds, which periodically adjust their holdings in various companies for a multitude of strategic reasons. The SEC filing provides transparency and allows the public to stay informed about significant transactions involving key shareholders and executives.
For those interested in the detailed numbers and potential implications of this sale, the full transaction details are available in the SEC Form 4 filing, which is a public document accessible for further review.
InvestingPro Insights
Wheeler Real Estate Investment Trust, Inc. (NASDAQ:WHLRD) has seen notable market activity, with a recent transaction by Magnolia Capital Fund, LP shedding light on the company's stock dynamics. Investors looking for deeper insights into Wheeler REIT's performance can benefit from real-time data and analytics available through InvestingPro. Here's a snapshot of the company's current financial health and stock behavior:
InvestingPro Data reveals a market capitalization of $10.06 million, indicating the company's size and market value as of the latest data. Despite a challenging period, the company has reported a gross profit margin of 65.8% over the last twelve months as of Q2 2024, suggesting a strong ability to retain revenue after the cost of goods sold is accounted for. Additionally, Wheeler REIT has achieved an operating income margin of 29.43% during the same period, demonstrating the efficiency of its operational management.
According to InvestingPro Tips, Wheeler REIT's stock has experienced significant volatility, with price movements reflecting this characteristic over various time frames. Notably, the stock has taken a considerable hit over the last week, aligning with the broader trend of high price volatility that investors have witnessed. On a positive note, the company's liquid assets exceed short-term obligations, which could provide some reassurance to investors concerned about the company's immediate financial stability.
For those interested in exploring further, additional InvestingPro Tips are available, offering a comprehensive analysis of Wheeler REIT's stock performance and financial metrics. The full array of tips, which can be accessed at https://www.investing.com/pro/WHLRD, includes insights on profitability, dividend policies, and long-term price performance, all of which are essential for informed investment decisions.
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