AP NEWS

Correction: Earns-WP Glimcher story

February 23, 2018

COLUMBUS, Ohio (AP) — In a story Wednesday about Washington Prime Group Inc.’s quarterly results — generated by Automated Insights using data from Zacks Investment Research — The Associated Press erroneously reported the company’s former name. Washington Prime changed its name from WP Glimcher Inc. in 2016.

A corrected version of the story is below:

Washington Prime Group reports 4Q results

Washington Prime Group posts 4Q FFO of $96.6 million

COLUMBUS, Ohio (AP) — Washington Prime Group Inc. (WPG) on Wednesday reported a key measure of profitability in its fourth quarter.

The Columbus, Ohio-based real estate investment trust said it had funds from operations of $96.6 million, or 44 cents per share, in the period.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $50.2 million, or 27 cents per share.

The real estate investment trust posted revenue of $187.2 million in the period.

For the year, the company reported funds from operations of $361.5 million, or $1.63 per share. Revenue was reported as $758.1 million.

Washington Prime Group expects full-year funds from operations to be $1.48 to $1.56 per share.

The company’s shares have decreased 15 percent since the beginning of the year. The stock has decreased 37 percent in the last 12 months.

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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WPG at https://www.zacks.com/ap/WPG

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