A reverse stock split can keep Washington Prime from being delisted in the short term, but it won't fix the mall REIT's major long-term problems.
News & Analysis: Washington Prime Group Inc.
Occupancy is falling, net operating income has plunged because of the COVID-19 pandemic, and the REIT's deleveraging efforts may be too little, too late.
WPG earnings call for the period ending September 30, 2020.
Washington Prime's subpar mall portfolio and high debt load are a toxic combination.
Pennsylvania Real Estate Investment Trust and Washington Prime Group both struggled to collect rent last quarter because of the impact of the COVID-19 pandemic.
WPG earnings call for the period ending June 30, 2020.
Washington Prime just cut its dividend, but don't necessarily expect Simon Property group to follow suit -- which says a lot about the REIT space.
WPG earnings call for the period ending December 30, 2019.
A few financial metrics suggest that Washington Prime Group may be getting its house in order, but others indicate that this high-yield dividend stock could continue to struggle.
WPG earnings call for the period ending September 30, 2019.