Washington Prime Group (WPG) Raised to Buy at ValuEngine

Washington Prime Group (NYSE:WPG) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

Several other equities analysts have also recently issued reports on WPG. Boenning Scattergood reaffirmed a “sell” rating on shares of Washington Prime Group in a research note on Friday, October 27th. BidaskClub cut shares of Washington Prime Group from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. Finally, Zacks Investment Research raised shares of Washington Prime Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. Washington Prime Group has an average rating of “Hold”.

Washington Prime Group (NYSE WPG) traded down $0.14 during trading on Friday, reaching $6.97. 3,162,042 shares of the company’s stock traded hands, compared to its average volume of 2,487,627. The firm has a market cap of $1,290.00, a PE ratio of 4.28 and a beta of 0.93. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.07 and a current ratio of 0.07. Washington Prime Group has a 52-week low of $6.71 and a 52-week high of $10.97.

Washington Prime Group (NYSE:WPG) last released its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.03). The company had revenue of $179.32 million for the quarter, compared to analyst estimates of $188.54 million. Washington Prime Group had a net margin of 21.85% and a return on equity of 16.17%. The firm’s quarterly revenue was down 14.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.46 EPS. equities research analysts anticipate that Washington Prime Group will post 1.63 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Creative Planning grew its stake in shares of Washington Prime Group by 411.9% in the 2nd quarter. Creative Planning now owns 9,198 shares of the real estate investment trust’s stock worth $103,000 after purchasing an additional 7,401 shares during the last quarter. Tyers Asset Management LLC purchased a new position in shares of Washington Prime Group in the fourth quarter worth approximately $103,000. Hancock Holding Co. purchased a new position in shares of Washington Prime Group in the first quarter worth approximately $101,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Washington Prime Group by 7.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,224 shares of the real estate investment trust’s stock worth $126,000 after acquiring an additional 801 shares in the last quarter. Finally, Teza Capital Management LLC purchased a new position in shares of Washington Prime Group in the first quarter worth approximately $103,000. 89.87% of the stock is currently owned by institutional investors.

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Washington Prime Group Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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