SCHEDULE: Diveroli Group Exits Wheeler REIT Stake

Diveroli Investment Group and Kingbird Ventures have fully divested their common stock holdings in Wheeler Real Estate Investment Trust, ceasing to be beneficial owners.

Summary

• Diveroli Investment Group LLC and Kingbird Ventures LLC (the "Reporting Persons") have filed an Amendment No. 1 to Schedule 13D.
• The Reporting Persons have disposed of all shares of common stock previously reported as beneficially owned in Wheeler Real Estate Investment Trust, Inc.
• They no longer beneficially own any shares of common stock of the Issuer.
• On September 10, 2025, 101,946 shares were sold for an aggregate price of $301,156.96, incurring $528.91 in brokerage fees.
• On September 11, 2025, an additional 101,054 shares were sold for an aggregate price of $267,945.36, with $524.27 in brokerage fees.
• The Reporting Persons ceased to be beneficial owners of more than five percent of the Issuer's common stock on September 10, 2025.

Sentiment

Score: 3

Explanation: The complete divestment by a significant institutional investor is a negative event for the Issuer, potentially signaling a lack of confidence or a strategic exit. While the Reporting Persons successfully liquidated their position, the market perception for the Issuer is likely negative.

Positives

• The Reporting Persons successfully liquidated their entire position in Wheeler Real Estate Investment Trust, Inc.
• The sales generated an aggregate of $569,102.32 from the divestment of 203,000 shares.

Negatives

• A significant institutional investor has completely exited its position in Wheeler Real Estate Investment Trust, Inc.
• The divestment could signal a lack of confidence in the Issuer's future prospects from the perspective of the exiting investor.

Risks

• The complete divestment by a significant shareholder like Diveroli Investment Group and Kingbird Ventures could be perceived negatively by the market, potentially impacting investor confidence and the Issuer's stock price.
• A large block of shares entering the market could create downward pressure on the stock price, depending on market liquidity and demand.

Future Outlook

The filing does not provide any forward-looking statements or guidance regarding the Issuer's future performance or the Reporting Persons' future investment plans.

Management Comments

• Aharon Diveroli, Chief Investment Officer of Diveroli Investment Group LLC and Kingbird Ventures LLC, certified that the information set forth in the statement is true, complete, and correct to the best of his knowledge and belief.

Industry Context

This filing reflects a specific institutional investor's decision to fully exit its position in a particular REIT. While not directly indicative of broader industry trends, significant divestments by institutional holders can sometimes reflect concerns about a company's specific strategy or market segment within the real estate sector, or simply a portfolio rebalancing decision by the investor.

Comparison to Industry Standards

• NA

Stakeholder Impact

• Shareholders: Existing shareholders of Wheeler Real Estate Investment Trust may experience decreased investor confidence and potential downward pressure on the stock price due to the exit of a significant institutional holder.
• Management: The company's management may face questions regarding the reasons for the institutional investor's complete divestment and its implications for the company's strategy and valuation.

Next Steps

• The filing does not explicitly mention any future actions or milestones for the Issuer or the Reporting Persons beyond the completion of the divestment.

Key Dates

Recommendation

The complete divestment by a significant institutional investor, Diveroli Investment Group and Kingbird Ventures, typically signals a loss of confidence or a strategic decision to exit the investment. This action can lead to negative market sentiment and potential downward pressure on the stock price of Wheeler Real Estate Investment Trust. For a seasoned investor, such a significant exit by a large holder often warrants a re-evaluation of their own position, potentially leading to a 'sell' recommendation to mitigate further risk or capitalize on a perceived decline.

Keywords

Wheeler Real Estate Investment Trust, Diveroli Investment Group, Kingbird Ventures, Schedule 13D/A, Share Divestment, Beneficial Ownership, Real Estate Investment Trust, REIT, Institutional Investor Exit