Washington Prime Group (WPG) Rating Increased to Hold at Zacks Investment Research

Washington Prime Group (NYSE:WPG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “Washington Prime Group Inc. is a retail REIT. The company is engaged in the ownership, management, acquisition and development of retail properties. Washington Prime Group Inc., formerly known as WP Glimcher Inc., is based in COLUMBUS, United States. “

WPG has been the topic of a number of other reports. Boenning Scattergood lowered shares of Washington Prime Group from a “neutral” rating to an “under perform” rating in a report on Wednesday, August 23rd. ValuEngine raised shares of Washington Prime Group from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, BidaskClub lowered shares of Washington Prime Group from a “buy” rating to a “hold” rating in a report on Friday, August 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. Washington Prime Group currently has an average rating of “Hold”.

Washington Prime Group (NYSE WPG) traded up $0.09 on Tuesday, reaching $7.06. 2,723,700 shares of the company’s stock were exchanged, compared to its average volume of 2,488,640. Washington Prime Group has a 52-week low of $6.71 and a 52-week high of $10.97. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.34. The company has a market cap of $1,294.97, a price-to-earnings ratio of 4.17 and a beta of 0.88.

Washington Prime Group (NYSE:WPG) last posted its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.03). Washington Prime Group had a return on equity of 16.17% and a net margin of 21.85%. The business had revenue of $179.32 million for the quarter, compared to the consensus estimate of $188.54 million. During the same period in the previous year, the firm earned $0.46 earnings per share. The company’s revenue was down 14.6% compared to the same quarter last year. research analysts expect that Washington Prime Group will post 1.63 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio boosted its stake in shares of Washington Prime Group by 26.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 287,344 shares of the real estate investment trust’s stock valued at $2,394,000 after purchasing an additional 59,749 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Washington Prime Group in the 3rd quarter valued at $1,190,000. Eii Capital Management Inc. bought a new stake in shares of Washington Prime Group in the 3rd quarter valued at $390,000. California Public Employees Retirement System boosted its stake in shares of Washington Prime Group by 13.5% in the 3rd quarter. California Public Employees Retirement System now owns 671,681 shares of the real estate investment trust’s stock valued at $5,595,000 after purchasing an additional 80,146 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in shares of Washington Prime Group in the 3rd quarter valued at $644,000. 89.86% of the stock is currently owned by hedge funds and other institutional investors.

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About Washington Prime Group

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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