Washington Prime Group: 3Q Earnings Snapshot
COLUMBUS, Ohio (AP) _ Washington Prime Group Inc. (WPG) on Wednesday reported a key measure of profitability in its third quarter.
The Columbus, Ohio-based real estate investment trust said it had funds from operations of $62 million, or 28 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 $4.4 million, or 2 cents per share.
The real estate investment trust posted revenue of $161.2 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 $4.45. A year ago, they were trading at $6.30.