In a series of transactions disclosed in a recent SEC filing, Ursa Fund Partners LP, led by Andrew Hahn and Russell Douglas of Ursa Fund Management LLC, acquired shares of Wheeler Real Estate Investment Trust, Inc. (NASDAQ:WHLRD). The transactions, which took place between November 14 and November 18, 2024, involved the purchase of Series D Cumulative Preferred Stock.
The acquisitions totaled $511,682, with prices per share ranging from $22.95 to $26.25. Following these transactions, the funds collectively own 335,241 shares. The shares are held by Ursa Fund Partners LP and Investment Opportunities 14 Segregated Portfolio, both under the management of Ursa Fund Management LLC.
Andrew Hahn and Russell Douglas, as managing members of Ursa Fund Management LLC, possess the authority to vote and direct the disposition of these shares.
InvestingPro Insights
The recent acquisitions by Ursa Fund Partners LP of Wheeler Real Estate Investment Trust's Series D Cumulative Preferred Stock come at an interesting time for the company. According to InvestingPro data, Wheeler Real Estate Investment Trust has a market capitalization of $5.44 million, reflecting its small-cap status in the real estate sector.
InvestingPro Tips highlight that the stock has experienced significant price volatility, which aligns with the range of purchase prices ($22.95 to $26.25) seen in Ursa Fund Partners' recent transactions. This volatility is further emphasized by the stock's substantial year-to-date price total return of 98.16%, as reported by InvestingPro.
Despite the recent positive price momentum, InvestingPro Tips indicate that the company is not profitable over the last twelve months, with a negative P/E ratio of -0.08. This financial performance metric may explain why the stock is trading at a price-to-book ratio of -0.05, suggesting that the market values the company below its book value.
It's worth noting that Wheeler Real Estate Investment Trust does not pay a dividend to shareholders, which is an important consideration for investors in REITs, typically known for their income-generating potential.
For investors seeking a more comprehensive analysis, InvestingPro offers 12 additional tips for Wheeler Real Estate Investment Trust, providing a deeper insight into the company's financial health and market position.
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