Zacks Investment Research upgraded shares of Wheeler Real Estate Investment Trust, Inc. (NASDAQ:WHLR) from a hold rating to a buy rating in a report issued on Thursday. The brokerage currently has $12.00 price objective on the real estate investment trust’s stock.

According to Zacks, “Wheeler Real Estate Investment Trust, Inc. is engaged in acquiring, financing, developing, leasing, owning and managing income producing assets, such as strip centers, neighborhood centers, grocery-anchored centers, community centers and free-standing retail properties. It operates in the mid-Atlantic, southeastern and southwestern United States. Wheeler Real Estate Investment Trust, Inc. is headquartered in Virginia Beach, Virginia. “

A number of other brokerages have also commented on WHLR. FBR & Co restated a buy rating and set a $13.00 price objective on shares of Wheeler Real Estate Investment Trust in a research report on Tuesday. ValuEngine upgraded Wheeler Real Estate Investment Trust from a hold rating to a buy rating in a research report on Thursday, July 13th. JMP Securities lowered Wheeler Real Estate Investment Trust from an outperform rating to a market perform rating in a research report on Wednesday, May 24th. Finally, Wunderlich decreased their price objective on Wheeler Real Estate Investment Trust from $16.00 to $13.00 and set a buy rating for the company in a research report on Wednesday, May 24th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of Buy and a consensus price target of $15.20.

Shares of Wheeler Real Estate Investment Trust (NASDAQ:WHLR) traded up 0.73% during trading on Thursday, hitting $11.07. The stock had a trading volume of 68,951 shares. The stock’s market capitalization is $96.01 million. The stock has a 50 day moving average price of $10.54 and a 200-day moving average price of $11.28. Wheeler Real Estate Investment Trust has a one year low of $7.95 and a one year high of $14.64.

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The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Friday, September 29th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.36 dividend on an annualized basis and a yield of 12.51%. Wheeler Real Estate Investment Trust’s payout ratio is presently -91.80%.

In other Wheeler Real Estate Investment Trust news, CEO Jon S. Wheeler acquired 4,000 shares of the firm’s stock in a transaction on Friday, August 25th. The stock was purchased at an average cost of $10.04 per share, for a total transaction of $40,160.00. Following the transaction, the chief executive officer now owns 110,997 shares of the company’s stock, valued at approximately $1,114,409.88. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.27% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP acquired a new stake in Wheeler Real Estate Investment Trust during the 2nd quarter worth about $159,000. Virtu KCG Holdings LLC acquired a new stake in shares of Wheeler Real Estate Investment Trust during the 2nd quarter valued at about $103,000. Menta Capital LLC acquired a new stake in shares of Wheeler Real Estate Investment Trust during the 2nd quarter valued at about $380,000. Stilwell Value LLC acquired a new stake in shares of Wheeler Real Estate Investment Trust during the 2nd quarter valued at about $7,227,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Wheeler Real Estate Investment Trust by 373.5% during the 1st quarter. Renaissance Technologies LLC now owns 1,557,925 shares of the real estate investment trust’s stock valued at $2,695,000 after buying an additional 1,228,925 shares during the last quarter.

Wheeler Real Estate Investment Trust Company Profile

Wheeler Real Estate Investment Trust, Inc is a self-managed commercial real estate investment company. The Company focuses on acquiring and managing retail properties with a primary focus on grocery-anchored centers. As of December 31, 2016, the Company owned a portfolio consisting of 74 properties, including 59 retail shopping centers and five freestanding retail properties totaling 4,906,511 gross leasable square feet of which approximately 94% were leased, one office property, eight undeveloped land parcels totaling approximately 70 acres and one redevelopment project.

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