Deutsche Bank AG Boosts Stake in Washington Prime Group (WPG)

Deutsche Bank AG grew its holdings in shares of Washington Prime Group (NYSE:WPG) by 175.2% in the 4th quarter, HoldingsChannel reports. The firm owned 660,294 shares of the real estate investment trust’s stock after purchasing an additional 420,359 shares during the period. Deutsche Bank AG’s holdings in Washington Prime Group were worth $4,698,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of WPG. Private Management Group Inc. boosted its position in shares of Washington Prime Group by 169.6% during the 4th quarter. Private Management Group Inc. now owns 4,725,510 shares of the real estate investment trust’s stock valued at $33,646,000 after purchasing an additional 2,972,581 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Washington Prime Group during the 3rd quarter valued at about $9,100,000. Bank of New York Mellon Corp boosted its position in shares of Washington Prime Group by 10.6% during the 4th quarter. Bank of New York Mellon Corp now owns 7,266,444 shares of the real estate investment trust’s stock valued at $51,737,000 after purchasing an additional 699,063 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Washington Prime Group by 166.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,089,897 shares of the real estate investment trust’s stock valued at $7,760,000 after purchasing an additional 681,482 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Washington Prime Group by 16.1% during the 4th quarter. Geode Capital Management LLC now owns 2,505,323 shares of the real estate investment trust’s stock valued at $17,837,000 after purchasing an additional 347,712 shares in the last quarter. Institutional investors own 91.92% of the company’s stock.

How to Become a New Pot Stock Millionaire

WPG stock opened at $6.69 on Friday. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.09. Washington Prime Group has a one year low of $5.40 and a one year high of $9.79. The stock has a market cap of $1,276.39, a price-to-earnings ratio of 4.10 and a beta of 0.60.

Washington Prime Group (NYSE:WPG) last posted its quarterly earnings data 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). Washington Prime Group had a net margin of 25.53% and a return on equity of 18.15%. The firm had revenue of $187.24 million for the quarter, compared to analysts’ expectations of $192.93 million. sell-side analysts predict that Washington Prime Group will post 1.52 EPS for the current year.

In other news, CEO Louis G. Conforti acquired 28,198 shares of Washington Prime Group stock in a transaction on Wednesday, February 28th. The stock was bought at an average cost of $6.49 per share, with a total value of $183,005.02. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.41% of the stock is currently owned by corporate insiders.

Several equities analysts have recently weighed in on the stock. ValuEngine lowered shares of Washington Prime Group from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Zacks Investment Research lowered shares of Washington Prime Group from a “hold” rating to a “sell” rating in a research note on Friday, January 26th. Boenning Scattergood reaffirmed a “sell” rating on shares of Washington Prime Group in a research note on Friday, February 23rd. Finally, SunTrust Banks set a $8.00 price objective on shares of Washington Prime Group and gave the company a “hold” rating in a research note on Monday, January 22nd. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The company currently has an average rating of “Hold” and an average target price of $8.00.

TRADEMARK VIOLATION WARNING: This news story was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this news story on another site, it was copied illegally and republished in violation of US and international trademark & copyright law. The original version of this news story can be viewed at https://www.dispatchtribunal.com/2018/04/15/deutsche-bank-ag-boosts-stake-in-washington-prime-group-wpg.html.

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.

Want to see what other hedge funds are holding WPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Washington Prime Group (NYSE:WPG).

Institutional Ownership by Quarter for Washington Prime Group (NYSE:WPG)

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.

Leave a Reply