COLUMBUS, Ohio – 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 $82.1 million, or 37 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 $463,000, or less than 1 cent on a per-share basis.
The real estate investment trust posted revenue of $179.9 million in the period.
Washington Prime Group expects full-year funds from operations in the range of $1.48 to $1.56 per share.
The company's shares have declined 14 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $6.14, a decrease of 27 percent in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on WPG at https://www.zacks.com/ap/WPG