Washington Prime Group Inc. (WPG) Downgraded by Zacks Investment Research to Sell
Washington Prime Group Inc. (NYSE:WPG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
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. “
Several other brokerages also recently weighed in on WPG. TheStreet upgraded Washington Prime Group from a “d+” rating to a “c” rating in a research report on Wednesday, July 26th. BidaskClub upgraded Washington Prime Group from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. ValuEngine upgraded Washington Prime Group from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Washington Prime Group in a research report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company. Washington Prime Group currently has an average rating of “Hold”.
Washington Prime Group (NYSE:WPG) traded down 1.41% during mid-day trading on Tuesday, reaching $7.71. 972,948 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $8.37 and a 200-day moving average of $8.45. Washington Prime Group has a one year low of $7.31 and a one year high of $10.97. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 8.38 and a beta of 0.95.
Washington Prime Group (NYSE:WPG) last announced its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.03). Washington Prime Group had a net margin of 21.85% and a return on equity of 16.17%. The company had revenue of $179.32 million during the quarter, compared to the consensus estimate of $188.54 million. During the same quarter in the previous year, the firm posted $0.46 EPS. The business’s revenue for the quarter was down 14.6% compared to the same quarter last year. On average, equities research analysts anticipate that Washington Prime Group will post $0.94 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in the business. Aperio Group LLC lifted its position in Washington Prime Group by 60.0% in the third quarter. Aperio Group LLC now owns 190,741 shares of the real estate investment trust’s stock valued at $1,589,000 after purchasing an additional 71,558 shares during the last quarter. First Trust Advisors LP lifted its position in Washington Prime Group by 7.2% in the third quarter. First Trust Advisors LP now owns 249,451 shares of the real estate investment trust’s stock valued at $2,078,000 after purchasing an additional 16,805 shares during the last quarter. Boston Advisors LLC bought a new stake in Washington Prime Group in the third quarter valued at approximately $3,315,000. Mutual of America Capital Management LLC lifted its position in Washington Prime Group by 4.8% in the third quarter. Mutual of America Capital Management LLC now owns 158,737 shares of the real estate investment trust’s stock valued at $1,322,000 after purchasing an additional 7,209 shares during the last quarter. Finally, WFG Advisors LP bought a new stake in Washington Prime Group in the second quarter valued at approximately $244,000. Hedge funds and other institutional investors own 91.68% 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Washington Prime Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Washington Prime Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.