Valeo Financial Advisors LLC bought a new stake in Washington Prime Group Inc. (NYSE:WPG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 109,376 shares of the real estate investment trust’s stock, valued at approximately $911,000. Valeo Financial Advisors LLC owned about 0.06% of Washington Prime Group at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in WPG. Chilton Capital Management LLC acquired a new position in Washington Prime Group in the 2nd quarter valued at about $101,000. Jane Street Group LLC purchased a new stake in Washington Prime Group in the 3rd quarter valued at about $104,000. Creative Planning grew its holdings in Washington Prime Group by 26.9% in the 2nd quarter. Creative Planning now owns 12,772 shares of the real estate investment trust’s stock valued at $107,000 after buying an additional 2,710 shares during the period. Shelton Capital Management purchased a new stake in Washington Prime Group in the 2nd quarter valued at about $111,000. Finally, Timber Hill LLC purchased a new stake in Washington Prime Group in the 2nd quarter valued at about $113,000. 89.86% of the stock is owned by hedge funds and other institutional investors.
Shares of Washington Prime Group Inc. (WPG) traded up $0.28 during trading hours on Monday, hitting $7.01. The stock had a trading volume of 2,652,600 shares, compared to its average volume of 2,488,917. 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 Inc. has a 1-year low of $6.62 and a 1-year high of $10.97. The stock has a market cap of $1,302.40, a PE ratio of 4.20 and a beta of 0.88.
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 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 firm had revenue of $179.32 million for the quarter, compared to analysts’ expectations of $188.54 million. During the same quarter in the previous year, the firm posted $0.46 EPS. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. research analysts expect that Washington Prime Group Inc. will post 1.63 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.27%. The ex-dividend date is Thursday, November 30th. Washington Prime Group’s payout ratio is currently 116.28%.
WPG has been the subject of several recent analyst reports. Boenning Scattergood restated a “sell” rating on shares of Washington Prime Group in a report on Friday, October 27th. Zacks Investment Research cut Washington Prime Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. ValuEngine cut Washington Prime Group from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, BidaskClub cut Washington Prime Group from a “buy” rating to a “hold” rating in a report on Friday, August 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold”.
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Washington Prime Group Profile
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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