Wheeler Real Estate Investment Trust, a real estate investment trust that acquires and manages retail properties, Thursday reaffirmed full-year 2017 guidance of adjusted funds from operations (AFFO) of $1.48 to $1.55, which is above the $1.47 per share average of three analysts polled by Capital IQ.
Wheeler said it believes that the recent decline in the trading prices of its common stock is unwarranted based on the performance of its portfolio. On May 1, Wheeler closed at $13.10 a share, and closed May 31 at $7.99 a share. The REIT said Q1 occupancy in its portfolio was 94.2%, which accounts for leases signed through April 7, but in which some rents have not yet commenced. Through Q1, Wheeler renewed thirty-three leases at a rent spread of 3.5%.