Wheeler Real Estate shares surge 26.48% after-hours as preferred redemptions trigger $2.60 conversion price reset.

Wheeler Real Estate Investment Trust Inc. surged 26.48% in after-hours trading following the redemption of over 1.77 million Series D preferred shares, which reset the convertible notes' conversion price to $2.60 per share, and the announcement of dividend returns for Series B and C preferred stocks, signaling financial stability and boosting investor confidence. The redemption of preferred shares reduced the company's capital obligations, potentially improving liquidity, while the dividend distributions reinforced its commitment to shareholder returns. These actions align with the stock's upward movement, reflecting optimism about the firm's capital structure adjustments and consistent payouts.