Washington Prime Group: 4Q Earnings Snapshot
COLUMBUS, Ohio (AP) _ Washington Prime Group Inc. (WPG) on Wednesday reported a key measure of profitability in its fourth quarter.
The real estate investment trust, based in Columbus, Ohio, said it had funds from operations of $84 million, or 38 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 $55 million, or 29 cents per share.
The real estate investment trust posted revenue of $184.3 million in the period.
For the year, the company reported funds from operations of $336.4 million, or $1.51 per share. Revenue was reported as $723.3 million.
Washington Prime Group expects full-year funds from operations to be $1.16 to $1.24 per share.
The company’s shares have risen 19 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $5.77, a decline of slightly more than 5 percent in the last 12 months.