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 $70.1 million, or 31 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 $17.1 million, or 9 cents per share.

The real estate investment trust posted revenue of $170 million in the period.

For the year, the company reported funds from operations of $263.4 million, or $1.18 per share. Revenue was reported as $661.5 million.

Washington Prime Group expects full-year funds from operations to be 99 cents to $1.07 per share.

In the final minutes of trading on Wednesday, the company's shares hit $2.26. A year ago, they were trading at $5.67.


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