Magnetar Financial LLC, identified as owning ten percent of Wheeler Real Estate Investment Trust, Inc. (NASDAQ: WHLR), reported the sale of 8,840 shares of Wheeler common stock on March 26, 2026, in a Form 4 filing with the Securities and Exchange Commission.
The shares disposed were transacted at a weighted average price of $1.0964, producing a total transaction value of $9,692. Reported sale prices ranged from $1.03496515101228 to $1.13401698777709. The filing shows the disposition occurring as Wheeler shares trade near the security's 52-week low of $1.00; the stock was quoted at $1.02 at the time of the filing. According to InvestingPro data cited in the filing, the stock has fallen roughly 13% over the prior week and nearly 100% over the last year. The same InvestingPro analysis noted that the stock may be undervalued at current levels and referenced more than a dozen additional ProTips available to subscribers.
This sale followed activity two days earlier. On March 24, 2026, Magnetar Financial acquired 172,075 shares of Wheeler Real Estate Investment Trust at a price of $0.01 per share. On that same date, the firm disposed of 172,075 common stock purchase warrants, each convertible into one share. After the March 26 sale, Magnetar Financial LLC directly holds 163,235 shares of Wheeler common stock, per the Form 4.
The Form 4 filing provides context for Magnetar Financial's organizational structure. Magnetar Financial LLC serves as the investment manager to Magnetar Longhorn Fund LP, Purpose Alternative Credit Fund - F LLC, and Purpose Alternative Credit Fund - T LLC; it is the general partner of Magnetar Structured Credit Fund, LP; and the manager of Magnetar Lake Credit Fund LLC. Magnetar Capital Partners LP is listed as the sole member and parent holding company of Magnetar Financial LLC, with Supernova Management LLC as the general partner of Magnetar Capital Partners. David J. Snyderman is identified as the current administrative manager of Supernova Management.
Separately, Wheeler has reported a series of corporate and capital-structure developments. The company disclosed the resignation of its Chief Financial Officer. Patrick Gundlach has been named interim Chief Accounting Officer and Treasurer. In a related personnel move outside Wheeler, Drucker + Falk appointed Crystal Plum, formerly Wheeler's CFO, as its new Chief Financial Officer.
Wheeler also adjusted the conversion mechanics of its securities. The conversion price of Wheeler's 7.00% Subordinated Convertible Notes due 2031 was reset to approximately $1.04 per share following redemptions of the company's Series D Preferred Stock. In addition, Wheeler amended warrants issued to affiliates of Magnetar Financial LLC and AY2 Capital LLC, enabling those warrant holders to acquire 12% of Wheeler's outstanding common stock at an exercise price of $0.01 per share.
Another balance-sheet action saw Wheeler complete a stock exchange in which 439,300 shares of common stock were issued in exchange for preferred shares. Those preferred shares were subsequently retired and canceled, according to disclosure in the filings.
Taken together, the recent insider transactions, warrant and convertible adjustments and executive turnover reflect a period of active strategic and financial management at Wheeler. Magnetar's March 26 sale is a modest disposition relative to its recent acquisition two days earlier, leaving the firm with a direct holding of 163,235 shares, as reported.
Summary of recent filings and corporate actions
- March 26, 2026 - Magnetar Financial sold 8,840 WHLR shares at a weighted average price of $1.0964, totaling $9,692. Sale price range: $1.03496515101228 to $1.13401698777709.
- March 24, 2026 - Magnetar acquired 172,075 WHLR shares at $0.01 and disposed of 172,075 warrants convertible into common stock.
- Post-transaction ownership - Magnetar Financial LLC directly owns 163,235 shares of Wheeler common stock.
- Corporate developments at Wheeler - CFO resignation, appointment of interim Chief Accounting Officer and Treasurer, external hire of former CFO by Drucker + Falk, conversion-price adjustment for 7.00% Subordinated Convertible Notes due 2031 to approximately $1.04 per share, amendment of warrants enabling purchase of 12% of outstanding common stock at $0.01 exercise price, and issuance and retirement of 439,300 common shares for preferred shares.
All figures and descriptions above are drawn from the Form 4 filing and related company disclosures filed in connection with the transactions and corporate actions.