WPG - Washington Prime Group plunges on Q3 widened net loss; reverse split by FY20 year-end

Washington Prime Group ([[WPG]] -18.6%) reported Q3 net loss of $43.7M or -$0.23/diluted share vs. net loss of $4.4M or -$0.02/diluted share in the year ago quarter.FFO stood at $16.6M, or $0.07/diluted share vs. $100.9M, or $0.45/diluted share, during the same quarter a year ago.YTD leasing volume through Sep. 30, 2020 exhibited a 7.0% YOY increase totaling 3.4M SF and 47% of new leasing volume was attributable to lifestyle tenancy.The company has collected 87% of 3Q 20 rental income.WPG intends to enter into a reverse common share split (1:9) by the end of the year whereby nine of the existing common shares are to be converted to a single common share.Q4 dividend of $0.4688 per Series H preferred share, $0.4297 per Series I preferred share of beneficial interest, and $0.4563 per Series I-1 preferred unit of Preferred Limited Partnership Interest.Q3 ended with $112M cash on hand and estimates its year end cash balance will be

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Washington Prime Group plunges on Q3 widened net loss; reverse split by FY20 year-end