Shares of Washington Prime Group Inc. (NYSE:WPG) have been given an average broker rating score of 4.00 (Sell) from the two brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong sell rating and one has assigned a hold rating to the company. Washington Prime Group’s rating score has declined by 33.3% from three months ago as a result of a number of analysts’ upgrades and downgrades.
Analysts have set a 12 month consensus target price of $8.25 for the company and are forecasting that the company will post $0.43 earnings per share for the current quarter, according to Zacks. Zacks has also given Washington Prime Group an industry rank of 183 out of 265 based on the ratings given to its competitors.
WPG has been the subject of several analyst reports. BidaskClub raised Washington Prime Group from a “hold” rating to a “buy” rating in a report on Monday, July 31st. ValuEngine raised Washington Prime Group from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. TheStreet raised Washington Prime Group from a “d+” rating to a “c” rating in a report on Wednesday, July 26th. Zacks Investment Research raised Washington Prime Group from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Washington Prime Group in a report on Friday, July 28th.
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Washington Prime Group (NYSE:WPG) opened at $7.35 on Friday. The stock has a market capitalization of $1,346.99, a PE 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 fifty-two week low of $6.71 and a fifty-two week high of $10.97.
Washington Prime Group (NYSE:WPG) last issued its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 quarterly revenue was down 14.6% compared to the same quarter last year. During the same period last year, the firm earned $0.46 EPS. sell-side analysts expect that Washington Prime Group will post 1.63 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a $0.25 dividend. The ex-dividend date is Thursday, November 30th. This represents a $1.00 dividend on an annualized basis and a yield of 13.61%. Washington Prime Group’s payout ratio is 116.28%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in Washington Prime Group by 0.9% in the 2nd quarter. BlackRock Inc. now owns 24,651,964 shares of the real estate investment trust’s stock worth $206,338,000 after purchasing an additional 217,715 shares during the period. State Street Corp raised its holdings in Washington Prime Group by 3.3% in the 2nd quarter. State Street Corp now owns 8,845,817 shares of the real estate investment trust’s stock worth $74,044,000 after purchasing an additional 279,626 shares during the period. Bank of New York Mellon Corp raised its holdings in Washington Prime Group by 2.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,567,381 shares of the real estate investment trust’s stock worth $54,707,000 after purchasing an additional 154,368 shares during the period. FMR LLC raised its holdings in Washington Prime Group by 51.3% in the 2nd quarter. FMR LLC now owns 5,470,935 shares of the real estate investment trust’s stock worth $45,792,000 after purchasing an additional 1,854,721 shares during the period. Finally, APG Asset Management US Inc. acquired a new position in Washington Prime Group in the 2nd quarter worth about $40,827,000. 91.19% of the stock is owned by institutional investors.
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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