Correction: Earns-WP Glimcher story
Feb. 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.
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