Zacks Investment Research reissued their sell rating on shares of Washington Prime Group (NYSE:WPG) in a research report sent to investors on Saturday, Zacks.com reports.
According to Zacks, “Washington Prime Group Inc. is a retail REIT. The company is engaged in the ownership, management, acquisition and development of retail properties. Washington Prime Group Inc., formerly known as WP Glimcher Inc., is based in COLUMBUS, United States. “
WPG has been the subject of a number of other research reports. SunTrust Banks set a $4.00 target price on Washington Prime Group and gave the company a sell rating in a research note on Monday, August 26th. ValuEngine raised Washington Prime Group from a hold rating to a buy rating in a research note on Wednesday, September 11th. Three analysts have rated the stock with a sell rating and one has issued a buy rating to the company’s stock. Washington Prime Group presently has a consensus rating of Hold and a consensus price target of $4.15.
NYSE WPG opened at $4.39 on Friday. Washington Prime Group has a 1-year low of $3.11 and a 1-year high of $6.96. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 3.82. The stock has a 50-day moving average of $3.90 and a 200-day moving average of $4.06. The firm has a market cap of $772.48 million, a PE ratio of 2.91 and a beta of 0.87.
In other Washington Prime Group news, Director John F. Levy purchased 14,800 shares of the stock in a transaction on Thursday, September 5th. The stock was acquired at an average price of $3.36 per share, with a total value of $49,728.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.72% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Morgan Stanley raised its position in Washington Prime Group by 10.2% during the 2nd quarter. Morgan Stanley now owns 4,204,593 shares of the real estate investment trust’s stock valued at $16,062,000 after purchasing an additional 388,332 shares during the last quarter. Jefferies Group LLC bought a new position in Washington Prime Group during the 2nd quarter valued at approximately $61,000. First Trust Advisors LP raised its position in Washington Prime Group by 16.4% during the 2nd quarter. First Trust Advisors LP now owns 449,390 shares of the real estate investment trust’s stock valued at $1,717,000 after purchasing an additional 63,294 shares during the last quarter. Zweig DiMenna Associates LLC raised its position in Washington Prime Group by 3,834.3% during the 2nd quarter. Zweig DiMenna Associates LLC now owns 1,821,584 shares of the real estate investment trust’s stock valued at $6,958,000 after purchasing an additional 1,775,284 shares during the last quarter. Finally, AE Wealth Management LLC purchased a new position in shares of Washington Prime Group during the 2nd quarter worth approximately $1,317,000. 85.98% of the stock is owned by institutional investors and hedge funds.
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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