California Public Employees Retirement System Cuts Stake in Washington Prime Group Inc (WPG)

California Public Employees Retirement System lessened its stake in shares of Washington Prime Group Inc (NYSE:WPG) by 12.3% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 708,427 shares of the real estate investment trust’s stock after selling 99,182 shares during the quarter. California Public Employees Retirement System owned about 0.38% of Washington Prime Group worth $4,725,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of WPG. Crossmark Global Holdings Inc. lifted its stake in shares of Washington Prime Group by 119.2% during the 4th quarter. Crossmark Global Holdings Inc. now owns 25,404 shares of the real estate investment trust’s stock worth $181,000 after buying an additional 13,812 shares during the last quarter. Swiss National Bank lifted its stake in shares of Washington Prime Group by 3.7% during the 4th quarter. Swiss National Bank now owns 316,366 shares of the real estate investment trust’s stock worth $2,253,000 after buying an additional 11,300 shares during the last quarter. New Mexico Educational Retirement Board lifted its stake in shares of Washington Prime Group by 91.6% during the 4th quarter. New Mexico Educational Retirement Board now owns 46,000 shares of the real estate investment trust’s stock worth $328,000 after buying an additional 21,986 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Washington Prime Group by 27.2% during the 4th quarter. First Trust Advisors LP now owns 317,298 shares of the real estate investment trust’s stock worth $2,259,000 after buying an additional 67,847 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of Washington Prime Group by 11.0% during the 4th quarter. Wells Fargo & Company MN now owns 483,534 shares of the real estate investment trust’s stock worth $3,443,000 after buying an additional 48,084 shares during the last quarter. Institutional investors own 86.45% of the company’s stock.

Shares of Washington Prime Group opened at $8.13 on Thursday, MarketBeat Ratings reports. Washington Prime Group Inc has a twelve month low of $5.40 and a twelve month high of $9.79. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 4.99 and a beta of 0.66.

Washington Prime Group (NYSE:WPG) last issued its quarterly earnings data on Wednesday, April 25th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the 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 business had revenue of $180.34 million during the quarter, compared to analyst estimates of $178.70 million. equities research analysts expect that Washington Prime Group Inc will post 1.51 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Friday, June 1st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 12.30%. The ex-dividend date was Thursday, May 31st. Washington Prime Group’s dividend payout ratio (DPR) is 61.35%.

WPG has been the subject of a number of research reports. ValuEngine upgraded shares of Washington Prime Group from a “hold” rating to a “buy” rating in a research note on Tuesday, May 29th. Zacks Investment Research upgraded shares of Washington Prime Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 16th. Finally, Boenning Scattergood reiterated a “sell” rating and issued a $6.00 price objective on shares of Washington Prime Group in a research note on Friday, April 27th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Washington Prime Group has a consensus rating of “Hold” and an average target price of $7.00.

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.

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

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