Why Washington Prime Group Shares Are Trading Lower Today

Washington Prime Group Inc WPG shares are trading lower by 19% at $2.74 Tuesday on continued downward momentum after the company announced it's commencing voluntary Chapter 11 financial restructuring.

Washington Prime Group is a self-managed real estate investment trust that invests in, manages, and develops retail properties. The company's portfolio consists of community shopping centers and malls across the United States, with most properties located in Texas, Ohio, Indiana, Illinois and Florida.

Washington Prime Group generates the majority of revenue from leasing properties to tenants, which include department stores, restaurants, homeware and furniture stores, entertainment venues, general retailers and cosmetic stores.

Washington Prime Group has a 52-week high of $16.55 and a 52-week low of $1.69.