Washington Prime Group: 2Q Earnings Snapshot
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.