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WP Glimcher reports 4Q results

COLUMBUS, Ohio (AP) _ WP Glimcher Inc. (WPG) on Wednesday reported a key measure of profitability in its fourth quarter.

The Columbus, Ohio-based real estate investment trust said it had funds from operations of $106.9 million, or 48 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 $25.4 million, or 14 cents per share.

The real estate investment trust posted revenue of $217.8 million in the period.

For the year, the company reported funds from operations of $393.1 million, or $1.78 per share. Revenue was reported as $843.5 million.

WP Glimcher expects full-year funds from operations in the range of $1.62 to $1.68 per share.

The company's shares have dropped 9 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $9.47, a climb of 21 percent in the last 12 months.


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


Keywords: WP Glimcher, Earnings Report