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Washington Prime Group: 2Q Earnings Snapshot

July 24, 2019

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

The real estate investment trust, based in Columbus, Ohio, said it had funds from operations of $61.2 million, or 27 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 a loss of $17.3 million, or 9 cents per share.

The real estate investment trust posted revenue of $161.4 million in the period.

Washington Prime Group expects full-year funds from operations in the range of $1.16 to $1.24 per share.

In the final minutes of trading on Wednesday, the company’s shares hit $3.46. A year ago, they were trading at $7.57.

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This story was 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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