Washington Prime Group (NYSE:WPG) has received a consensus recommendation of “Hold” from the six brokerages that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $8.00.
A number of research analysts recently commented on the company. ValuEngine lowered Washington Prime Group from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Boenning Scattergood restated a “sell” rating on shares of Washington Prime Group in a research note on Friday, February 23rd. Zacks Investment Research lowered Washington Prime Group from a “hold” rating to a “sell” rating in a research note on Friday, January 26th. Finally, SunTrust Banks set a $8.00 target price on Washington Prime Group and gave the company a “hold” rating in a research note on Monday, January 22nd.
In other news, CEO Louis G. Conforti bought 28,198 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was acquired at an average cost of $6.49 per share, for a total transaction of $183,005.02. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.28% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN raised its stake in Washington Prime Group by 44.2% during the third quarter. Wells Fargo & Company MN now owns 435,450 shares of the real estate investment trust’s stock worth $3,628,000 after acquiring an additional 133,493 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Washington Prime Group during the third quarter worth $9,100,000. Raymond James Financial Services Advisors Inc. raised its stake in Washington Prime Group by 60.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 43,377 shares of the real estate investment trust’s stock worth $309,000 after acquiring an additional 16,311 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Washington Prime Group by 9.0% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 3,322,561 shares of the real estate investment trust’s stock worth $23,657,000 after acquiring an additional 274,262 shares in the last quarter. Finally, Teachers Insurance & Annuity Association of America raised its stake in Washington Prime Group by 9.8% during the fourth quarter. Teachers Insurance & Annuity Association of America now owns 203,651 shares of the real estate investment trust’s stock worth $1,450,000 after acquiring an additional 18,143 shares in the last quarter. Hedge funds and other institutional investors own 91.92% of the company’s stock.
Shares of NYSE WPG opened at $6.81 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.07 and a quick ratio of 0.07. The firm has a market capitalization of $1,244.80, a P/E ratio of 4.18 and a beta of 0.60. Washington Prime Group has a one year low of $5.40 and a one year high of $9.79.
Washington Prime Group (NYSE:WPG) last issued its earnings results on Wednesday, February 21st. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.17). The firm had revenue of $187.24 million during the quarter, compared to analyst estimates of $192.93 million. Washington Prime Group had a net margin of 25.53% and a return on equity of 18.15%. equities analysts anticipate that Washington Prime Group will post 1.52 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Monday, March 5th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, March 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.68%. Washington Prime Group’s payout ratio is 61.35%.
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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.
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