Financial Performance - Net loss attributable to common shareholders for the fourth quarter of 2019 was $(12.7) million, or $(0.15) per diluted share[9] - NAREIT-defined FFO for the fourth quarter of 2019 was $11.0 million, or $0.12 per diluted share[10] - Operating FFO for the fourth quarter of 2019 was $9.7 million, or $0.11 per diluted share[10] - NAREIT-defined FFO for the full year 2019 was $42.1 million, or $0.46 per diluted share[11] - Operating FFO for the full year 2019 was $40.8 million, or $0.45 per diluted share[11] Portfolio and Leasing Activity - Same-property NOI increased 0.1% for the fourth quarter of 2019 and 0.3% for the full year 2019[8, 13] - The company signed 41 new and renewal leases for 297,100 square feet in the fourth quarter of 2019[8] - The company signed 162 new and renewal leases for 1,742,100 square feet for the full year 2019[8] - Comparable cash-basis lease spreads were 1.7% for the fourth quarter of 2019 and 2.1% for the full year 2019[8] - The company's total portfolio and same-property portfolio were 93.2% leased at year-end[8, 13] Balance Sheet and Debt - The company had $95.6 million available under its revolving credit facility as of December 31, 2019[15] - Net debt to EBITDAre was 8.7 times as of December 31, 2019[15] - The company has no debt maturities until early 2021[15] 2020 Guidance - The company's initial 2020 guidance includes a net loss attributable to common shareholders per diluted share of ($0.12) – ($0.10)[18] - NAREIT-defined FFO per diluted share is guided at $0.48 – $0.50 for 2020[18] - Operating FFO per diluted share is guided at $0.49 – $0.51 for 2020[18] - Dispositions of approximately $15 million to $25 million are expected primarily in the second half of 2020[18]
Wheeler Real Estate Investment Trust(WHLR) - 2019 Q4 - Earnings Call Presentation