- Washington Prime stock surged in January, even though NOI plunged in 2020.
- Anchor vacancies are piling up across Washington Prime's portfolio, and the REIT will be hard-pressed to backfill those vacancies as fast as they appear.
- Washington Prime will have to spend all of its cash flow on redevelopment CapEx and debt reduction for the foreseeable future.
- The majority of Washington Prime's corporate-level debt matures within two years. The REIT's high leverage and generally subpar real estate will make it hard to roll over that debt.
- Bankruptcy is the most likely long-term outcome. Sell Washington Prime common and preferred stock.
For further details see:
Washington Prime: Avoid The Dash For Trash