Magnetar Financial LLC, previously a 10 percent holder of Wheeler Real Estate Investment Trust, Inc. (NASDAQ: WHLR), filed a Form 4 with the Securities and Exchange Commission reporting the sale of 3,127 shares of Wheeler common stock on April 15, 2026. The filing shows a weighted average sale price of $0.7958, producing a total transaction value of $2,488. Individual sale prices recorded on the Form 4 ranged from $0.78 to $0.80.
Following the April 15 trades, Magnetar Financial LLC no longer held any shares of Wheeler Real Estate Investment Trust, the filing noted. The Form 4 was executed on behalf of the relevant parties by Hayley A. Stein, Attorney-in-Fact for David J. Snyderman.
The filing also restates the ownership and managerial structure linked to the disposed stake. Magnetar Financial LLC acts as investment manager to a set of Magnetar Vehicles that together held portions of the securities in question. Magnetar Capital Partners LP is identified as the sole member and parent holding company of Magnetar Financial LLC, while Supernova Management LLC is listed as the general partner of Magnetar Capital Partners. David J. Snyderman is named as the current administrative manager of Supernova Management. The filing includes a disclaimer that Magnetar Financial LLC, Magnetar Capital Partners, Supernova Management and David J. Snyderman disclaim beneficial ownership of the shares except to the extent of their pecuniary interest.
The trade comes as Wheeler shares trade near a 52-week low of $0.74, with the stock off 99.73% over the last 12 months. InvestingPro commentary included in public notes referenced in the filing suggests the stock may trade below a Fair Value estimate, citing a Fair Value above the then-current trading price of $0.75. InvestingPro tips attached to coverage highlight that WHLR exhibits high price volatility and is in oversold territory per RSI indicators - two of 13 total tips available through that service.
Separately, Wheeler Real Estate Investment Trust has disclosed a series of corporate actions and internal changes. The company announced a one-for-three reverse stock split of its common stock that will reduce the number of outstanding shares. Management also adjusted the conversion price for its 7.00% Subordinated Convertible Notes due 2031, an action taken following redemptions of the company's Series D Preferred Stock.
In two related transactions disclosed by the company, Wheeler issued a total of 146,666 shares of Series D Cumulative Convertible Preferred Stock. Those Series D shares were issued in exchange for Series B and Series C Preferred Stock held by its subsidiary, Cedar Realty Trust, reflecting internal restructuring among preferred classes.
Leadership changes were also reported. Wheeler's Chief Financial Officer vacated the role, and Patrick Gundlach was appointed as Chief Accounting Officer and Treasurer. The former CFO, Crystal Plum, moved to a position at Drucker + Falk. The company stated it is searching for a new chief financial officer to fill the vacancy.
Taken together, the Form 4 sale by Magnetar closes out the firm's reported position in WHLR while Wheeler pursues capital-structure adjustments and executive transitions. The filing and company disclosures provide a snapshot of ownership movements and corporate actions but do not include commentary on strategic rationale for the trades or the broader timeline for the company's stated financial adjustments.