Washington Prime Group Inc (NYSE:WPG) – Boenning Scattergood issued their Q1 2019 earnings estimates for shares of Washington Prime Group in a report issued on Tuesday, Zacks Investment Research reports. Boenning Scattergood analyst F. Van. Dijkum anticipates that the real estate investment trust will earn $0.39 per share for the quarter. Boenning Scattergood has a “Sell” rating on the stock. Boenning Scattergood also issued estimates for Washington Prime Group’s Q2 2019 earnings at $0.39 EPS, Q3 2019 earnings at $0.39 EPS, Q4 2019 earnings at $0.40 EPS and FY2019 earnings at $1.56 EPS.
Several other research firms also recently issued reports on WPG. Zacks Investment Research raised shares of Washington Prime Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. ValuEngine raised shares of Washington Prime Group from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, SunTrust Banks set a $8.00 price target on shares of Washington Prime Group and gave the stock a “hold” rating in a research note on Monday, January 22nd. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $8.00.
Shares of Washington Prime Group (NYSE:WPG) traded down $0.17 during mid-day trading on Wednesday, hitting $6.21. 2,472,598 shares of the stock were exchanged, compared to its average volume of 2,264,144. Washington Prime Group has a fifty-two week low of $6.15 and a fifty-two week high of $9.85. The stock has a market cap of $1,185.35, a P/E ratio of 7.22 and a beta of 0.74. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.07 and a current ratio of 0.07.
Washington Prime Group (NYSE:WPG) last issued its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.37 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.03). Washington Prime Group had a net margin of 21.85% and a return on equity of 16.17%. The business had revenue of $179.32 million during the quarter, compared to analysts’ expectations of $188.54 million. During the same period in the prior year, the business posted $0.46 EPS. The business’s revenue was down 14.6% on a year-over-year basis.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Washington Prime Group by 0.9% during the 2nd quarter. BlackRock Inc. now owns 24,651,964 shares of the real estate investment trust’s stock worth $206,338,000 after buying an additional 217,715 shares during the period. State Street Corp increased its position in shares of 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 last quarter. Bank of New York Mellon Corp increased its position in shares of 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 last quarter. FMR LLC increased its position in shares of 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 last quarter. Finally, Northern Trust Corp increased its position in shares of Washington Prime Group by 3.7% in the 2nd quarter. Northern Trust Corp now owns 3,856,188 shares of the real estate investment trust’s stock worth $32,276,000 after purchasing an additional 137,470 shares during the last quarter. 87.94% of the stock is currently owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION WARNING: “Q1 2019 Earnings Estimate for Washington Prime Group Inc (NYSE:WPG) Issued By Boenning Scattergood” was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this report on another publication, it was copied illegally and republished in violation of international copyright and trademark laws. The legal version of this report can be viewed at https://www.dispatchtribunal.com/2018/02/03/washington-prime-group-inc-expected-to-earn-q1-2019-earnings-of-0-39-per-share-wpg.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.
Get a free copy of the Zacks research report on Washington Prime Group (WPG)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.