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Washington Prime Group: 1Q Earnings Snapshot

Associated Press
Updated ·1-min read

COLUMBUS, Ohio (AP) _ Washington Prime Group Inc. (WPG) on Thursday reported a key measure of profitability in its first quarter.

The Columbus, Ohio-based real estate investment trust said it had funds from operations of $49.7 million, or 22 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 $3.4 million, or 2 cents per share.

The real estate investment trust posted revenue of $152.6 million in the period.

The company's shares closed at 72 cents. A year ago, they were trading at $4.77.

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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