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Proxy adviser Egan-Jones supports Wheeler REIT's board nominees

Egan-Jones Proxy Services recommended Wheeler Real Estate Investment Trust Inc.'s director nominees for election at the shopping center REIT's 2019 annual shareholder meeting.

Egan-Jones joins Glass Lewis & Co., which backed Wheeler's nominees earlier in December. Institutional Shareholder Services Inc., meanwhile, recommended two of Stilwell Group's nominees for election to the REIT's board.

In making its recommendation, Egan-Jones noted that the REIT was taking the correct steps to strengthen its financial position with its existing management team and board. The proxy adviser added that Stilwell does not have a comprehensive plan to support its claims against the shopping center landlord.