Analysts expect Washington Prime Group Inc. (NYSE:WPG) to report $191.09 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Washington Prime Group’s earnings, with the lowest sales estimate coming in at $190.80 million and the highest estimate coming in at $191.38 million. Washington Prime Group posted sales of $209.92 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 9%. The firm is expected to report its next earnings results on Wednesday, November 1st.

According to Zacks, analysts expect that Washington Prime Group will report full year sales of $191.09 million for the current fiscal year, with estimates ranging from $779.59 million to $780.20 million. For the next year, analysts expect that the business will post sales of $773.55 million per share, with estimates ranging from $749.40 million to $797.69 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Washington Prime Group.

Washington Prime Group (NYSE:WPG) last posted its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.72 EPS for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.06. Washington Prime Group had a net margin of 22.65% and a return on equity of 17.36%. The company had revenue of $189.17 million during the quarter, compared to the consensus estimate of $197.69 million. During the same period in the prior year, the business posted $0.45 EPS. The company’s quarterly revenue was down 8.1% on a year-over-year basis.

A number of research analysts have recently issued reports on WPG shares. TheStreet upgraded shares of Washington Prime Group from a “d+” rating to a “c” rating in a report on Wednesday, July 26th. BidaskClub upgraded shares of Washington Prime Group from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Zacks Investment Research cut shares of Washington Prime Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 17th. ValuEngine cut shares of Washington Prime Group from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. Finally, Boenning Scattergood restated a “hold” rating on shares of Washington Prime Group in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $9.25.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Washington Prime Group by 2.8% in the first quarter. Vanguard Group Inc. now owns 35,917,881 shares of the real estate investment trust’s stock worth $312,126,000 after buying an additional 977,722 shares during the last quarter. BlackRock Inc. boosted its position in Washington Prime Group by 0.9% in the second quarter. BlackRock Inc. now owns 24,651,964 shares of the real estate investment trust’s stock worth $206,338,000 after buying an additional 217,715 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Washington Prime Group by 4.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 11,334,720 shares of the real estate investment trust’s stock worth $98,498,000 after buying an additional 491,753 shares during the last quarter. State Street Corp boosted its position in Washington Prime Group by 3.3% in the second quarter. State Street Corp now owns 8,845,817 shares of the real estate investment trust’s stock worth $74,044,000 after buying an additional 279,626 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Washington Prime Group by 42.3% in the second quarter. Bank of New York Mellon Corp now owns 6,413,013 shares of the real estate investment trust’s stock worth $53,677,000 after buying an additional 1,907,079 shares during the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

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Washington Prime Group (NYSE:WPG) opened at 8.70 on Wednesday. The stock’s 50 day moving average is $8.79 and its 200-day moving average is $8.66. Washington Prime Group has a 1-year low of $7.31 and a 1-year high of $14.15. The firm has a market capitalization of $1.62 billion, a P/E ratio of 9.46 and a beta of 0.95.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 11.49%. The ex-dividend date is Wednesday, August 30th. Washington Prime Group’s dividend payout ratio (DPR) is presently 108.70%.

About Washington Prime Group

Washington Prime Group Inc (WPG Inc), formerly WP Glimcher Inc, operates as a self-administered and self-managed real estate investment trust (REIT). The Company’s primary business is the ownership, development and management of retail real estate within the United States. The Company owns, develops and manages enclosed retail properties and community centers.

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Earnings History and Estimates for Washington Prime Group (NYSE:WPG)

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