WPG News and Press, Washington Prime Group Inc. From 04/23/20

What’s the first thing when you think of when you hear the word "lemon?" Do you think of the actual fruit, all bright yellow and oval shaped? If you’re the literal type, that’s probably precisely where your brain goes. If you’re more of a creative thinker ...

Real Estate Earnings Preview REIT earnings should provide pivotal information on rent collection and future dividend plans on what will surely be the most newsworthy and potentially volatile earnings season in at least a decade. While some REITs have provided mid-quarter updates on rent co...

The retail REITs industry has been particularly impacted by the COVID-19 crisis as a significant portion of shops and restaurants have been shut down as a result. Although financial statements can provide an insight on how robust each company was before the outbreak, uncertainty is very high a...

On April 4, 2017, I penned a piece: Hedge Fund Analyst Jason Mudrick Claims: Decline In Malls Is A Forever Trend . Within the piece, I suggested that Jason's claim was a bit hyperbolic and noted that it can be quite profitable to bet against the popular wisdom of the day. My thought process t...

Washington Prime ( WPG ) was facing a perfect storm from e-commerce and mass store closures. Then the coronavirus hit. In this report, I estimate how much NOI and rent can decline before breaching unsecured debt covenants. I also give my take on their preferred shares. My findings show that it...

Owners of the more than 30,000 strip malls in the U.S. have been paid only between 30% and 50% of April rent, according to commercial property researchers at Green Street Advisors. More news on: RPT Realty, Cedar Realty Trust, Inc., Tanger Factory Outlet Centers, Inc., News on the U.S. e...

Washington Prime Group Inc. (NYSE: WPG) today released its most recent Well Picked Goods , a weekly digital curation of merchandise peppered with a mediocre attempt at witty commentary by Washington Prime Group’s CEO. This week’s selection comes from the local management team a...

The markets were down on Wednesday morning, with the Dow dropping more than 600 points by noon. As Yahoo Finance’s homepage put it, that was due to “grim economic, earnings data.” As if we were expecting something positive from retail when most physical stores are shut...

The company this morning announces the drawing down of the remaining $130M on its revolver, and the suspension of the quarterly dividend. There may be the need the "true up" the payout in Q4 in order to comply with REIT taxable income requirements. More news on: Washington Prime Group In...

To keep expenses down during the shutdowns triggered by the spread of the coronavirus, Washington Prime Group ( WPG +3.5% ) will reduce annual base salaries of several executive officers temporarily, according to an SEC filing. More news on: Washington Prime Group Inc., Financial ...