LS Investment Advisors LLC increased its position in shares of Washington Prime Group Inc. (NYSE:WPG) by 16.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,833 shares of the real estate investment trust’s stock after buying an additional 2,207 shares during the period. LS Investment Advisors LLC’s holdings in Washington Prime Group were worth $133,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. ProShare Advisors LLC raised its position in Washington Prime Group by 15.1% in the first quarter. ProShare Advisors LLC now owns 111,901 shares of the real estate investment trust’s stock worth $765,000 after buying an additional 14,662 shares during the period. LSV Asset Management increased its stake in shares of Washington Prime Group by 31.3% in the first quarter. LSV Asset Management now owns 1,859,745 shares of the real estate investment trust’s stock valued at $16,161,000 after buying an additional 442,939 shares in the last quarter. Independent Advisor Alliance acquired a new stake in shares of Washington Prime Group during the first quarter valued at approximately $238,000. Chicago Equity Partners LLC acquired a new stake in shares of Washington Prime Group during the first quarter valued at approximately $1,765,000. Finally, California Public Employees Retirement System increased its stake in shares of Washington Prime Group by 3.7% in the first quarter. California Public Employees Retirement System now owns 542,435 shares of the real estate investment trust’s stock valued at $4,714,000 after buying an additional 19,300 shares in the last quarter. 92.46% of the stock is owned by institutional investors.
Shares of Washington Prime Group Inc. (NYSE WPG) traded down 3.036% during mid-day trading on Friday, reaching $8.465. The company’s stock had a trading volume of 1,941,548 shares. The firm’s 50 day moving average is $8.74 and its 200 day moving average is $8.69. The firm has a market cap of $1.57 billion, a PE ratio of 9.201 and a beta of 0.95. Washington Prime Group Inc. has a one year low of $7.31 and a one year high of $14.15.
Washington Prime Group (NYSE:WPG) last issued its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.06. The business had revenue of $189.17 million for the quarter, compared to the consensus estimate of $197.69 million. Washington Prime Group had a return on equity of 17.36% and a net margin of 22.65%. The business’s quarterly revenue was down 8.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.45 earnings per share. On average, equities analysts anticipate that Washington Prime Group Inc. will post $1.05 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.45%. The ex-dividend date of this dividend is Wednesday, August 30th. Washington Prime Group’s payout ratio is presently 108.70%.
Several brokerages have commented on WPG. Boenning Scattergood reiterated a “hold” rating on shares of Washington Prime Group in a research note on Friday, July 28th. TheStreet upgraded Washington Prime Group from a “d+” rating to a “c” rating in a research note on Wednesday, July 26th. Zacks Investment Research downgraded Washington Prime Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. BidaskClub upgraded Washington Prime Group from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. Finally, ValuEngine downgraded Washington Prime Group from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. Washington Prime Group currently has a consensus rating of “Hold” and an average price target of $9.25.
Washington Prime Group Company Profile
Washington Prime Group Inc (WPG Inc), formerly WP Glimcher Inc, operates as a self-administered and self-managed real estate investment trust (REIT). The Company’s primary business is the ownership, development and management of retail real estate within the United States. The Company owns, develops and manages enclosed retail properties and community centers.
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