Cart

0

Stocks

Q4 2018: “Wheeler REIT plunges 28% after suspending preferred dividends”

Wheeler Real Estate Investment Trust (NASDAQ:WHLR) plunges 28% after the REIT says it won’t pay Q4 dividends on its preferred stock “at this time,” citing its ongoing review of strategic alternatives.

Plans to accelerate efforts to reduce short-term, higher-cst debt where accretive and complete strategic dispositions and refinancings, which continuing efforts to improve portfolio occupancy.

The board will re-evaluate the payment of preferred dividends for Q1 2019 when appropriate.

Previously: Wheeler REIT +2.7% after selling two assets and reducing debt (Oct. 23)

https://seekingalpha.com/news/3418904-wheeler-reit-plunges-28-percent-suspending-preferred-dividends

I picked up this stock because I thought it payed good dividend. If the yield drops I may sell my stock. Also what about Q1 2019? Will there be no dividends at this time as well? This doesn’t look good.

Leave a Reply