VIRGINIA BEACH, Va. (AP) _ Wheeler Real Estate Investment Trust Inc. (WHLR) on Monday reported a key measure of profitability in its second quarter.
The Virginia Beach, Virginia-based real estate investment trust said it had funds from operations of $1.6 million, or 16 cents per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had a loss of $10.7 million, or $1.10 per share.
The real estate investment trust posted revenue of $15.5 million in the period.
In the final minutes of trading on Monday, the company's shares hit $1.50. A year ago, they were trading at $5.05.