Wheeler Real Estate Investment Trust reported revenue growth of 2.2% to $104.6 million in fiscal year 2024, driven by a 3.4% increase in property revenue. Operating income increased to $37.5 million from $29.4 million in 2023, benefiting from lower depreciation and amortization expenses of $25.3 million compared to $28.5 million last year.The company's portfolio maintained strong operational performance with a 93.1% occupancy rate across its 75 properties. Same-property NOI grew 4.9% to $61.7 million, while the company completed strategic dispositions of several properties generating net proceeds of $38.5 million. Notable transactions included the sale of South Philadelphia retail center for $21 million and Kings Plaza for $14.2 million.Looking ahead, Wheeler REIT continues to focus on portfolio optimization and capital structure improvement. The company reduced its Series D Preferred Stock exposure through redemptions and exchanges, while maintaining a stable weighted average interest rate of 5.53% on its fixed-rate debt. Management remains committed to enhancing financial stability through strategic asset sales and debt management while maintaining its grocery-anchored retail focus.

Wheeler Real Estate Investment Trust reported revenue growth of 2.2% to $104.6 million in fiscal year 2024, driven by a 3.4% increase in property revenue. Operating income increased to $37.5 million from $29.4 million in 2023, benefiting from lower depreciation and amortization expenses of $25.3 million compared to $28.5 million last year.The company's portfolio maintained strong operational performance with a 93.1% occupancy rate across its 75 properties. Same-property NOI grew 4.9% to $61.7 million, while the company completed strategic dispositions of several properties generating net proceeds of $38.5 million. Notable transactions included the sale of South Philadelphia retail center for $21 million and Kings Plaza for $14.2 million.Looking ahead, Wheeler REIT continues to focus on portfolio optimization and capital structure improvement. The company reduced its Series D Preferred Stock exposure through redemptions and exchanges, while maintaining a stable weighted average interest rate of 5.53% on its fixed-rate debt. Management remains committed to enhancing financial stability through strategic asset sales and debt management while maintaining its grocery-anchored retail focus.