Washington Prime Group Inc. (NYSE:WPG) issued its quarterly 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), Bloomberg Earnings reports. 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 analyst estimates of $188.54 million. During the same period in the previous year, the company posted $0.46 earnings per share. The business’s revenue for the quarter was down 14.6% on a year-over-year basis. Washington Prime Group updated its Q4 guidance to $0.44 to $0.48 EPS.
Washington Prime Group (NYSE:WPG) traded up $0.11 during trading on Friday, hitting $7.35. 2,848,900 shares of the stock traded hands, compared to its average volume of 2,497,037. The firm has a market capitalization of $1,346.99, a price-to-earnings ratio of 4.34 and a beta of 0.92. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.34. Washington Prime Group has a 52 week low of $6.71 and a 52 week high of $10.97.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 13.61%. The ex-dividend date is Thursday, November 30th. Washington Prime Group’s dividend payout ratio (DPR) is 116.28%.
A number of research firms have commented on WPG. Zacks Investment Research downgraded shares of Washington Prime Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. Boenning Scattergood reaffirmed a “sell” rating on shares of Washington Prime Group in a research report on Friday, October 27th. ValuEngine raised shares of Washington Prime Group from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. BidaskClub cut shares of Washington Prime Group from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Finally, TheStreet raised shares of Washington Prime Group from a “d+” rating to a “c” rating in a research report on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold”.
TRADEMARK VIOLATION NOTICE: “Washington Prime Group Inc. (NYSE:WPG) Posts Earnings Results, Misses Estimates By $0.03 EPS” was reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this piece on another publication, it was illegally copied and reposted in violation of US & international trademark and copyright legislation. The legal version of this piece can be read at https://www.dispatchtribunal.com/2017/11/11/washington-prime-group-inc-wpg-releases-earnings-results-misses-estimates-by-0-03-eps.html.
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.
Receive News & Ratings for Washington Prime Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Washington Prime Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.