<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
WILSHIRE REAL ESTATE INVESTMENT TRUST INC.
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(Name of Issuer)
COMMON ($.0001 PAR VALUE)
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(Title of Class of Securities)
971892104
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(CUSIP Number)
HOWARD AMSTER, 23811 CHAGRIN BLVD #200,
BEACHWOOD, OH 44122-5525 (216) 595-1047
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
1/26/99
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(b)(3) or (4), check the following
box / /.
NOTE: Six copies of this statement, including all exhibits, should be
filed with the Commission. See Rule 13d-1(a) for other parties to whom copies
are to be sent.
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section
of the Act but shall be subject to all other provisions of the Act (however,
see the Notes).
(Continued on following page(s))
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CUSIP No. 971892104 13D Page of Pages
--------- --- ---
AMENDMENT #1
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
HOWARD AMSTER
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(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /x/
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(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
PF
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
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(6) Citizenship or Place of Organization
USA
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Number of Shares (7) Sole Voting
Beneficially Owned Power 333700
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 298500
--------------------------------------------------
(9) Sole Dispositive
Power 333,700
--------------------------------------------------
(10) Shared Dispositive
Power 298500
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
333700
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
2.902
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(14) Type of Reporting Person*
IN
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*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 971892104 13D Page of Pages
--------- --- ---
AMENDMENT #1
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
TAMRA F. GOULD
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(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /x/
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(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
PF
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 242000
--------------------------------------------------
(9) Sole Dispositive
Power
--------------------------------------------------
(10) Shared Dispositive
Power 242000
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
0
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
0
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(14) Type of Reporting Person*
IN
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*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 971892104 13D Page of Pages
--------- --- ---
AMENDMENT #1
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
AMSTER TRADING COMPANY
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(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /x/
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(3) SEC Use Only
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(4) Source of Funds*
WC
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 56500
--------------------------------------------------
(9) Sole Dispositive
Power
--------------------------------------------------
(10) Shared Dispositive
Power 56500
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
0
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
0
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
CO
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*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 971892104 13D Page of Pages
--------- --- ---
AMENDMENT #1
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
AMSTER TRADING COMPANY CHARITABLE REMAINDER UNITRUSTS
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(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /x/
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(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
AF
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 56500
--------------------------------------------------
(9) Sole Dispositive
Power
--------------------------------------------------
(10) Shared Dispositive
Power 56500
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
56500
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
.491%
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(14) Type of Reporting Person*
OO
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*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 971892104 13D Page of Pages
--------- --- ---
AMENDMENT #1
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
HOWARD AMSTER & TAMRA F. GOULD CHARITABLE REMAINDER UNITRUST
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /x/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
AF
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 242000
--------------------------------------------------
(9) Sole Dispositive
Power
--------------------------------------------------
(10) Shared Dispositive
Power 242000
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
242000
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
2.104%
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(14) Type of Reporting Person*
OO
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*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 971892104 13D Page of Pages
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AMENDMENT #1
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
RAMAT SECURITIES LTD
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(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /x/
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(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
WC
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power 0
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power
--------------------------------------------------
(9) Sole Dispositive
Power 0
--------------------------------------------------
(10) Shared Dispositive
Power
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
0
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
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(13) Percent of Class Represented by Amount in Row (11)
0
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(14) Type of Reporting Person*
BD
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*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
AMENDMENT #1
CUSIP No. 971892104
THERE ARE NO CHANGES TO SCHEDULE 13D AS PREVIOUSLY FILED EXCEPT AS
SET FORTH BELOW.
Item 2. Identity & Background
Ramat Securities Ltd
23811 Chagrin Blvd, Suite 200, Beachwood, Ohio 44122
Broker Dealer
Ramat Securities Ltd. was previously part of the group, sold its entire
position in the issuer. Section 2, therefore, is amended to reflect that
Ramat Securities Ltd. is no longer part of the group.
Item 4. Purposes of Transaction
Howard Amster's Individual Retirement Account and Amster Trading Company
Charitable Remainder Unitrusts sold some of their stock in the issuer to
reduce their securities position. Ramat Securities Ltd sold all their stock
in the Registrant.
Each remaining members of the Group reserve the right to further reduce or
eliminate their position.
Item 5. Interest in securities of the Issuer
b) The aggregate amount owned by the Group of Reporting Persons is
632,200 shares or 5.497% of the outstanding shares.
Howard Amster in his individual retirement accounts owns 333,700
shares or 2.902% of the outstanding shares.
Amster Trading Company Charitable Remainder Unitrusts owns 56,500
shares or .491% of the outstanding shares.
Howard Amster and Tamra F. Gould Charitable Remainder Unitrust owns
242,000 shares or 2.104% of the outstanding shares.
Ramat Securities Ltd owns 0 shares or 0% of the outstanding
shares.
c) The following table reflects shares sold on NASDAQ as open market
transactions:
<TABLE>
<CAPTION>
Name Date Shares Price Executed by
<S> <C> <C> <C> <C>
Howard Amster IRA 1/26/99 3,300 3.1117 Everen Securities
1/27/99 11,000 3.142 Everen Securities
Amster Trading Co 1/19/99 37,500 3.00 Friedman, Billings, Ramsey
Charitable Remainder 1/26/99 125,000 2.9375 Friedman, Billings, Ramsey
Unitrusts 1/27/99 125,000 3.00 Friedman, Billings, Ramsey
Ramat Securities Ltd 12/22/98 7,000 3.0625 Bear Stearns
12/31/98 8,500 3.2904 Bear Stearns
12/31/98 24,500 3.4405 Instinet/By Bear Stearns
1/7/99 2,000 3.1875 Bear Stearns
1/12/99 32,000 3.09375 Instinet/By Bear Stearns
1/12/99 3,000 3.0625 Bear Stearns
</TABLE>
<PAGE>
Signature
After reasonable inquiry and to the best of my knowledge and belief,
we certify that the information set forth in this statement is true,
complete and correct.
Date: 2/2/99
/s/ /s/ /s/
Howard Amster Amster Trading Howard Amster &
Company Tamra F. Gould
Charitable Remainder
Unitrust
/s/ /s/ /s/
Tamra F. Gould Amster Trading Co Ramat Securities Ltd
Charitable Remainder
Unitrusts
