Washington Prime Group (NYSE:WPG) was the recipient of a large growth in short interest in February. As of February 28th, there was short interest totalling 27,547,211 shares, a growth of 12.0% from the February 15th total of 24,586,406 shares. Approximately 15.0% of the shares of the company are sold short. Based on an average trading volume of 3,265,000 shares, the short-interest ratio is currently 8.4 days.
Several brokerages have recently issued reports on WPG. ValuEngine cut Washington Prime Group from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Zacks Investment Research cut Washington Prime Group from a “hold” rating to a “sell” rating in a research report on Friday, January 26th. Boenning Scattergood reiterated a “sell” rating on shares of Washington Prime Group in a research report on Friday, February 23rd. Finally, SunTrust Banks set a $8.00 target price on Washington Prime Group and gave the stock a “hold” rating in a report on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $8.00.
In other Washington Prime Group news, CEO Louis G. Conforti bought 28,198 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were purchased at an average price of $6.49 per share, with a total value of $183,005.02. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 0.28% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the company. Regent Investment Management LLC acquired a new stake in Washington Prime Group during the fourth quarter valued at $100,000. Jane Street Group LLC acquired a new stake in shares of Washington Prime Group in the third quarter worth about $104,000. Bfsg LLC acquired a new stake in shares of Washington Prime Group in the fourth quarter worth about $135,000. MANA Advisors LLC acquired a new stake in shares of Washington Prime Group in the fourth quarter worth about $146,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Washington Prime Group in the fourth quarter worth about $150,000. Institutional investors and hedge funds own 91.92% of the company’s stock.
Shares of NYSE WPG traded down $0.12 during mid-day trading on Friday, reaching $6.81. The company had a trading volume of 2,827,801 shares, compared to its average volume of 2,913,908. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $1,265.24, a price-to-earnings ratio of 4.18 and a beta of 0.60. Washington Prime Group has a 1-year low of $5.40 and a 1-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 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.17). The company had revenue of $187.24 million during the quarter, compared to analyst estimates of $192.93 million. Washington Prime Group had a return on equity of 18.15% and a net margin of 25.53%. analysts anticipate that Washington Prime Group will post 1.52 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Monday, March 5th were issued a dividend of $0.25 per share. The ex-dividend date 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 dividend payout ratio is 61.35%.
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About Washington Prime Group
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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