On May 28, 2014, Washington Prime Group (NYSE:WPG) was spun-off from Simon Property Group (NYSE:SPG). WPG operates a portfolio of 54 strip centers and 44 smaller enclosed mall properties totaling approximately 53 million square feet. Its focus is on producing stable, steady cash flows across market cycles, and its properties are occupied by anchor tenants such as Dillard's (NYSE:DDS), Kohl's (NYSE:KSS), Target (NYSE:TGT) and Macy's (NYSE:M).
WPG plans to be a retail real estate company positioned for growth. Its national portfolio, consisting of 98 properties in 23 states, represents significant scale from inception. It has a strong balance sheet with an investment grade credit rating (S&P: BBB...
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