Washington Prime Group (NYSE:WPG) updated its FY19 earnings guidance on Wednesday. The company provided EPS guidance of $1.16-1.24 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.20. Washington Prime Group also updated its Q2 guidance to $0.25-0.28 EPS.
Several brokerages have weighed in on WPG. Zacks Investment Research cut shares of Washington Prime Group from a hold rating to a sell rating in a research report on Saturday, February 9th. TheStreet raised shares of Washington Prime Group from a d+ rating to a c rating in a research report on Thursday, March 7th. Finally, ValuEngine raised shares of Washington Prime Group from a sell rating to a hold rating in a research report on Thursday, April 18th. Four equities research analysts have rated the stock with a sell rating and one has given a hold rating to the stock. The stock presently has a consensus rating of Sell and an average target price of $5.17.
WPG traded down $0.08 during trading on Wednesday, hitting $4.56. 3,356,948 shares of the stock traded hands, compared to its average volume of 2,411,350. The stock has a market capitalization of $865.15 million, a P/E ratio of 3.02 and a beta of 1.13. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 3.11. Washington Prime Group has a 12-month low of $4.52 and a 12-month high of $8.44.
In other Washington Prime Group news, EVP Robert P. Demchak sold 11,747 shares of the stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $5.74, for a total transaction of $67,427.78. Following the completion of the sale, the executive vice president now owns 58,620 shares of the company’s stock, valued at approximately $336,478.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Joshua Lindimore sold 5,116 shares of the stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $5.75, for a total transaction of $29,417.00. Following the sale, the senior vice president now directly owns 18,920 shares of the company’s stock, valued at approximately $108,790. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.
Washington Prime Group Company Profile
Washington Prime Group Inc is a retail REIT and a recognized leader in the ownership, management, acquisition and development of retail properties. The Company combines a national real estate portfolio with an investment grade balance sheet, leveraging its expertise across the entire shopping center sector to increase cash flow through rigorous management of assets and provide new opportunities to retailers looking for growth throughout the U.S.
Recommended Story: What is the Producer Price Index (PPI)?
Receive News & Ratings for Washington Prime Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Washington Prime Group and related companies with MarketBeat.com's FREE daily email newsletter.