Washington Prime Group (NYSE:WPG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday.
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 research reports. Boenning Scattergood restated a “sell” rating on shares of Washington Prime Group in a research note on Friday, October 27th. ValuEngine lowered shares of Washington Prime Group from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold”.
Washington Prime Group (NYSE:WPG) last issued its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). The company had revenue of $179.32 million during the quarter, compared to analyst estimates of $188.54 million. Washington Prime Group had a net margin of 21.85% and a return on equity of 16.17%. The business’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 EPS. analysts predict that Washington Prime Group will post 1.63 earnings per share for the current year.
Several institutional investors have recently modified their holdings of WPG. Public Employees Retirement System of Ohio raised its stake in Washington Prime Group by 26.3% during the third quarter. Public Employees Retirement System of Ohio now owns 287,344 shares of the real estate investment trust’s stock worth $2,394,000 after acquiring an additional 59,749 shares during the period. GSA Capital Partners LLP acquired a new stake in Washington Prime Group during the third quarter worth about $1,190,000. Eii Capital Management Inc. acquired a new stake in Washington Prime Group during the third quarter worth about $390,000. California Public Employees Retirement System raised its stake in Washington Prime Group by 13.5% during the third quarter. California Public Employees Retirement System now owns 671,681 shares of the real estate investment trust’s stock worth $5,595,000 after acquiring an additional 80,146 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new stake in Washington Prime Group during the third quarter worth about $644,000. Institutional investors and hedge funds own 89.83% of the company’s stock.
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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