Washington Prime Group Inc. (NYSE:WPG) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Friday.

Other analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Washington Prime Group from a “hold” rating to a “buy” rating and set a $9.25 price target on the stock in a report on Wednesday, May 10th. TheStreet raised shares of Washington Prime Group from a “d+” rating to a “c” rating in a report on Wednesday, July 26th. ValuEngine downgraded shares of Washington Prime Group from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Washington Prime Group in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the stock. Washington Prime Group has a consensus rating of “Hold” and a consensus target price of $9.25.

Shares of Washington Prime Group (WPG) traded down 1.476% during mid-day trading on Friday, reaching $8.345. 1,774,719 shares of the company’s stock traded hands. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 9.071 and a beta of 0.95. Washington Prime Group has a 12-month low of $7.31 and a 12-month high of $14.15. The firm’s 50 day moving average price is $8.80 and its 200-day moving average price is $8.65.

Washington Prime Group (NYSE:WPG) last announced its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.06. The firm had revenue of $189.17 million for the quarter, compared to the consensus estimate of $197.69 million. Washington Prime Group had a net margin of 22.65% and a return on equity of 17.36%. The business’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.45 EPS. Equities research analysts forecast that Washington Prime Group will post $0.94 earnings per share for the current year.

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Institutional investors have recently modified their holdings of the company. LSV Asset Management boosted its stake in Washington Prime Group by 31.3% in the first quarter. LSV Asset Management now owns 1,859,745 shares of the real estate investment trust’s stock worth $16,161,000 after buying an additional 442,939 shares during the last quarter. State Treasurer State of Michigan boosted its stake in Washington Prime Group by 0.9% in the first quarter. State Treasurer State of Michigan now owns 75,321 shares of the real estate investment trust’s stock worth $655,000 after buying an additional 700 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in Washington Prime Group by 2.4% in the first quarter. Great West Life Assurance Co. Can now owns 203,601 shares of the real estate investment trust’s stock worth $1,767,000 after buying an additional 4,734 shares during the last quarter. Camelot Portfolios LLC boosted its stake in Washington Prime Group by 14.6% in the first quarter. Camelot Portfolios LLC now owns 253,761 shares of the real estate investment trust’s stock worth $2,205,000 after buying an additional 32,239 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in Washington Prime Group by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 65,082 shares of the real estate investment trust’s stock worth $566,000 after buying an additional 900 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

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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