LPL Financial LLC decreased its stake in shares of Washington Prime Group (NYSE:WPG) by 26.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 51,753 shares of the real estate investment trust’s stock after selling 18,619 shares during the quarter. LPL Financial LLC’s holdings in Washington Prime Group were worth $368,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in WPG. Regent Investment Management LLC purchased a new position in Washington Prime Group during the fourth quarter worth approximately $100,000. Jane Street Group LLC purchased a new position in Washington Prime Group during the third quarter worth approximately $104,000. Bfsg LLC purchased a new position in Washington Prime Group during the fourth quarter worth approximately $135,000. MANA Advisors LLC purchased a new position in Washington Prime Group during the fourth quarter worth approximately $146,000. Finally, Engineers Gate Manager LP purchased a new position in Washington Prime Group during the fourth quarter worth approximately $150,000. Hedge funds and other institutional investors own 91.74% of the company’s stock.
In other Washington Prime Group news, CEO Louis G. Conforti bought 28,198 shares of Washington Prime Group stock in a transaction on Wednesday, February 28th. The shares were bought at an average price of $6.49 per share, for a total transaction of $183,005.02. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.41% of the stock is owned by insiders.
NYSE:WPG opened at $5.99 on Friday. Washington Prime Group has a 52 week low of $5.40 and a 52 week high of $9.79. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $1,174.20, a price-to-earnings ratio of 3.67 and a beta of 0.60.
Washington Prime Group (NYSE:WPG) last posted its earnings results on Wednesday, February 21st. The real estate investment trust reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate 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 business had revenue of $187.24 million during the quarter, compared to analysts’ expectations of $192.93 million. research analysts predict that Washington Prime Group will post 1.52 EPS for the current fiscal year.
A number of equities research analysts have commented on the company. ValuEngine downgraded Washington Prime Group from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Boenning Scattergood restated a “sell” rating on shares of Washington Prime Group in a research report on Friday, February 23rd. Zacks Investment Research upgraded Washington Prime Group from a “sell” rating to a “hold” rating in a research report on Thursday, December 28th. Finally, SunTrust Banks set a $8.00 target price on Washington Prime Group and gave the company a “hold” rating in a research report on Monday, January 22nd. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The company has an average rating of “Hold” and an average target price of $8.00.
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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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