Washington Prime Group Inc. (NYSE: WPG) announced that CEO Lou Conforti and CFO Mark Yale will present at Nareit’s REITworld 2020 virtual investor conference on November 18, 2020, at 3:45 p.m. ET. The presentation will be accessible via a live audio webcast, and registration is complimentary through the REITworld Virtual Environment. An audio replay will be available approximately two hours post-presentation until the conference concludes, with another replay accessible on the company's website a week later. An investor presentation will also be posted online.
Washington Prime Group (NYSE: WPG) reported a net loss of $43.7 million or $(0.23) per diluted share for Q3 2020, significantly worse than the $4.4 million loss in Q3 2019. Funds from Operations (FFO) dropped to $16.6 million or $0.07 per diluted share, down from $100.9 million or $0.45 in the same period last year, mainly due to COVID-19 impacts. However, year-to-date leasing volume increased by 7% YOY. The company projects a 10-20% decrease in comparable NOI for Q4 2020 but anticipates improvements in rental income collection, rising from 52% in Q2 to 87% in Q3.
Washington Prime Group Inc. (NYSE: WPG) recently marked the grand opening of Dunham's Sports at Markland Mall in Kokomo, Indiana, enhancing retail options in the area. This new store replaces a former Elder Beerman outlet and is part of the company's ongoing strategy to reposition traditional retail spaces. Other anchors at Markland Mall include ALDI, Party City, PetSmart, and Ross Dress for Less. The mall, being the only regional enclosed center within 40 miles, strengthens its status as a key retail destination.