Magnetar Financial LLC, identified as holding roughly 10% of Wheeler Real Estate Investment Trust, Inc. (NASDAQ: WHLR), completed three separate sales of the REIT's common stock between March 27 and March 31, 2026, disposing of a combined 18,166 shares for a total of $17,384.
The disposition was carried out in three tranches with per-share prices spanning from $0.9304 to $1.0374. The firm sold 3,685 shares on March 27 at a weighted average price of $1.0374 - trades executed within a $1.02 to $1.05 range - leaving Magnetar with 159,550 shares after that day’s activity.
On March 30, Magnetar Financial sold a further 2,103 shares at a weighted average price of $0.9723, with individual trade prices ranging from $0.94 to $1.05. That sale reduced the entity’s holdings to 157,447 shares.
The largest single tranche occurred on March 31, when 12,378 shares were sold at a weighted average of $0.9304, with execution prices between $0.93 and $0.94. After that transaction, Magnetar Financial’s reported stake was 145,069 shares in Wheeler Real Estate Investment Trust.
At the time of the filings, WHLR was trading at $0.93, cited as about 1% above its 52-week low. The stock had fallen 18.8% over the preceding week. Despite the recent price pressure, InvestingPro analysis flagged the shares as potentially undervalued and included them on a list of the platform’s most undervalued stocks.
Wheeler Real Estate Investment Trust’s market capitalization was reported at approximately $1.33 million. The company showed a loss of $36.01 per share over the past twelve months. InvestingPro subscribers were noted to have access to 14 additional analyst tips on WHLR as well as financial health scores and Fair Value estimates.
The reported sale notices were executed under the authorization of Hayley A. Stein, Attorney-in-Fact for David J. Snyderman, acting as Administrative Manager of Supernova Management LLC. Supernova Management LLC is identified as the General Partner of Magnetar Capital Partners LP, which itself is listed as the Sole Member of Magnetar Financial LLC.
Separately, Wheeler Real Estate Investment Trust has been active on the corporate and leadership fronts. The company disclosed the resignation of its Chief Financial Officer, Crystal Plum. In the interim, Patrick Gundlach has been appointed as interim Chief Accounting Officer and Treasurer while the search for a permanent CFO is ongoing.
On capital-structure matters, the REIT adjusted the conversion price for its 7.00% Subordinated Convertible Notes due 2031 to roughly $1.04 per share of common stock. That change followed the redemption of the company’s Series D Cumulative Convertible Preferred Stock and was described as reflecting a 45% discount from the lowest conversion price of $1.88 associated with the Series D Preferred Stock.
Wheeler also amended and restated the common stock purchase warrants originally issued in March 2021. Under the revised warrant terms, holders are eligible to purchase a quantity of common shares equal to 12% of the company’s outstanding common stock at an exercise price of $0.01 per share.
In a separate exchange, the company reported that it had swapped 439,300 shares of common stock for preferred shares - specifically 19,100 shares of Series D and 38,200 shares of Series B Convertible Preferred Stock - which were subsequently retired and canceled.
In related personnel news, Drucker + Falk has named Crystal Plum as its new Chief Financial Officer. Plum had been the CFO at Wheeler Real Estate Investment Trust, where she oversaw finance and accounting operations prior to her resignation from Wheeler.
These developments - the insider sales, the near-52-week low on the stock, the adjustments to convertible securities and warrants, and the executive turnover - were all disclosed in recent filings and company announcements. Together they represent a cluster of corporate and market signals investors and analysts may factor into assessments of Wheeler’s near-term capital structure and shareholder value.