Washington Prime Group Inc (NYSE:WPG)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $0.77, but opened at $0.83. Washington Prime Group shares last traded at $0.83, with a volume of 4,162,600 shares traded.
A number of brokerages have issued reports on WPG. Zacks Investment Research lowered shares of Washington Prime Group from a “hold” rating to a “sell” rating in a research note on Saturday. SunTrust Banks lowered their price target on Washington Prime Group from $3.50 to $1.00 and set a “sell” rating for the company in a report on Friday, April 24th. ValuEngine raised Washington Prime Group from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 23rd. Finally, Compass Point initiated coverage on Washington Prime Group in a report on Thursday, June 4th. They issued a “neutral” rating and a $1.00 price objective for the company.
The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 4.70. The firm has a market cap of $156.37 million, a price-to-earnings ratio of 0.71 and a beta of 1.46. The business has a 50 day moving average of $0.85 and a 200 day moving average of $1.95.
Washington Prime Group (NYSE:WPG) last posted its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.09. Washington Prime Group had a return on equity of 1.77% and a net margin of 1.99%. The business had revenue of $152.60 million for the quarter, compared to analyst estimates of $161.50 million. Research analysts predict that Washington Prime Group Inc will post 0.71 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the business. Jane Street Group LLC acquired a new position in Washington Prime Group during the 1st quarter worth $64,000. Tower Research Capital LLC TRC acquired a new position in Washington Prime Group during the 1st quarter worth $28,000. Invesco Ltd. boosted its position in Washington Prime Group by 11.4% during the 1st quarter. Invesco Ltd. now owns 690,280 shares of the real estate investment trust’s stock worth $556,000 after acquiring an additional 70,555 shares during the period. Tudor Investment Corp Et Al grew its stake in Washington Prime Group by 328.1% in the first quarter. Tudor Investment Corp Et Al now owns 105,897 shares of the real estate investment trust’s stock valued at $85,000 after purchasing an additional 81,158 shares in the last quarter. Finally, Utah Retirement Systems grew its stake in Washington Prime Group by 25.8% in the first quarter. Utah Retirement Systems now owns 117,500 shares of the real estate investment trust’s stock valued at $95,000 after purchasing an additional 24,100 shares in the last quarter. Institutional investors own 70.09% of the company’s stock.
Washington Prime Group Company Profile (NYSE:WPG)
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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