Ameriprise Financial Inc. Decreases Holdings in Washington Prime Group Inc. (WPG)

Ameriprise Financial Inc. reduced its stake in Washington Prime Group Inc. (NYSE:WPG) by 2.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,262,163 shares of the real estate investment trust’s stock after selling 33,438 shares during the period. Ameriprise Financial Inc. owned approximately 0.68% of Washington Prime Group worth $10,564,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Creative Planning grew its stake in shares of Washington Prime Group by 26.9% in the second quarter. Creative Planning now owns 12,772 shares of the real estate investment trust’s stock worth $107,000 after acquiring an additional 2,710 shares during the last quarter. Timber Hill LLC purchased a new stake in shares of Washington Prime Group in the second quarter worth $113,000. Riverhead Capital Management LLC grew its stake in shares of Washington Prime Group by 71.4% in the second quarter. Riverhead Capital Management LLC now owns 13,885 shares of the real estate investment trust’s stock worth $116,000 after acquiring an additional 5,785 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Washington Prime Group by 13.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,322 shares of the real estate investment trust’s stock worth $120,000 after acquiring an additional 1,742 shares during the last quarter. Finally, GAM Holding AG grew its stake in shares of Washington Prime Group by 0.7% in the second quarter. GAM Holding AG now owns 15,305 shares of the real estate investment trust’s stock worth $128,000 after acquiring an additional 100 shares during the last quarter. 92.00% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Washington Prime Group Inc. (WPG) opened at 8.80 on Thursday. The company’s 50 day moving average price is $8.40 and its 200 day moving average price is $8.48. Washington Prime Group Inc. has a 52-week low of $7.31 and a 52-week high of $12.18. The stock has a market capitalization of $1.63 billion, a PE ratio of 9.57 and a beta of 0.95.

Washington Prime Group (NYSE:WPG) last released its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.06. Washington Prime Group had a return on equity of 17.36% and a net margin of 22.65%. The firm had revenue of $189.17 million during the quarter, compared to analyst estimates of $197.69 million. During the same period in the previous year, the company posted $0.45 EPS. The business’s revenue for the quarter was down 8.1% compared to the same quarter last year. On average, equities research analysts anticipate that Washington Prime Group Inc. will post $0.94 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 11.36%. The ex-dividend date was Wednesday, August 30th. Washington Prime Group’s dividend payout ratio is currently 108.70%.

A number of research firms have recently commented on WPG. Boenning Scattergood reissued a “hold” rating on shares of Washington Prime Group in a research note on Friday, July 28th. TheStreet raised Washington Prime Group from a “d+” rating to a “c” rating in a research note on Wednesday, July 26th. Zacks Investment Research cut Washington Prime Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. BidaskClub raised Washington Prime Group from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. Finally, ValuEngine cut Washington Prime Group from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the stock. Washington Prime Group currently has a consensus rating of “Hold”.

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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.

Institutional Ownership by Quarter for Washington Prime Group (NYSE:WPG)

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