ClariVest Asset Management LLC cut its holdings in Washington Prime Group (NYSE:WPG) by 1.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 796,500 shares of the real estate investment trust’s stock after selling 11,000 shares during the quarter. ClariVest Asset Management LLC owned 0.43% of Washington Prime Group worth $5,312,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Regent Investment Management LLC purchased a new stake in shares of Washington Prime Group during the fourth quarter worth approximately $100,000. Bfsg LLC purchased a new stake in shares of Washington Prime Group during the fourth quarter worth approximately $135,000. MANA Advisors LLC purchased a new stake in shares of Washington Prime Group during the fourth quarter worth approximately $146,000. Engineers Gate Manager LP purchased a new stake in shares of Washington Prime Group during the fourth quarter worth approximately $150,000. Finally, Xact Kapitalforvaltning AB purchased a new stake in shares of Washington Prime Group during the fourth quarter worth approximately $156,000. Institutional investors and hedge funds own 89.66% of the company’s stock.
Several brokerages recently commented on WPG. SunTrust Banks set a $8.00 price target on Washington Prime Group and gave the stock a “hold” rating in a research report on Monday, January 22nd. ValuEngine upgraded Washington Prime Group from a “hold” rating to a “buy” rating in a research report on Tuesday, February 27th. Zacks Investment Research cut Washington Prime Group from a “hold” rating to a “sell” rating in a research report on Friday, January 26th. Finally, Boenning Scattergood reiterated a “sell” rating and set a $6.00 price target on shares of Washington Prime Group in a research report on Friday, April 27th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Washington Prime Group currently has an average rating of “Hold” and a consensus target price of $7.00.
Shares of WPG opened at $6.78 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.06 and a quick ratio of 0.06. Washington Prime Group has a one year low of $6.72 and a one year high of $6.89. The company has a market cap of $1.26 billion, a P/E ratio of 4.16 and a beta of 0.60.
Washington Prime Group (NYSE:WPG) last issued its quarterly earnings results on Wednesday, April 25th. The real estate investment trust reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.30). Washington Prime Group had a return on equity of 18.52% and a net margin of 26.94%. The firm had revenue of $180.34 million for the quarter, compared to analysts’ expectations of $178.70 million. equities analysts predict that Washington Prime Group will post 1.51 EPS for the current year.
In related news, CEO Louis G. Conforti acquired 28,198 shares of the stock in a transaction on Wednesday, February 28th. The shares were bought 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 Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.41% of the company’s stock.
Washington Prime Group 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.
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.