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Day two of losses for Wheeler Real Estate; shares off another 7%

Published 10/17/2017, 12:00 PM
© Reuters.  Day two of losses for Wheeler Real Estate; shares off another 7%
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  • Seeking Alpha contributor Beyond Saving yesterday reiterated a call to avoid Wheeler (WHLR -7.1%). The market mostly ignored a 4th amendment to Wheeler's KeyBanc credit agreement extending by two months the deadline for reducing the amount outstanding to $50M (it was $68M at the end of Q2).
  • If Wheeler is having trouble paying off $18M, what happens when the $50M matures next May?
  • KeyBanc will no doubt work to extend the maturity, but there will certainly be a cost to Wheeler.
  • The author also notes three anchor spaces totaling more than 140K square feet going vacant in Q3.
  • Now read: A Weak REIT Trading At Similar Valuations To Realty Income


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