Washington Prime Group (NYSE:WPG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued 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 research firms have also recently commented on WPG. ValuEngine raised shares of Washington Prime Group from a “hold” rating to a “buy” rating in a research report on Friday. BidaskClub cut shares of Washington Prime Group from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Finally, Boenning Scattergood reaffirmed a “sell” rating on shares of Washington Prime Group in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold”.

Shares of Washington Prime Group (WPG) traded up $0.09 during trading on Tuesday, reaching $7.06. 2,723,700 shares of the company’s stock were exchanged, compared to its average volume of 2,488,640. The company has a market cap of $1,294.97, a price-to-earnings ratio of 4.17 and a beta of 0.88. Washington Prime Group has a 1-year low of $6.71 and a 1-year high of $10.97. 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 (NYSE:WPG) last announced its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). The firm had revenue of $179.32 million during the quarter, compared to the consensus estimate of $188.54 million. Washington Prime Group had a return on equity of 16.17% and a net margin of 21.85%. Washington Prime Group’s revenue was down 14.6% on a year-over-year basis. During the same period last year, the business earned $0.46 EPS. sell-side analysts expect that Washington Prime Group will post 1.63 earnings per share for the current year.

Several large investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio lifted its position in Washington Prime Group by 26.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 287,344 shares of the real estate investment trust’s stock valued at $2,394,000 after acquiring an additional 59,749 shares during the period. GSA Capital Partners LLP purchased a new position in Washington Prime Group during the 3rd quarter valued at about $1,190,000. Eii Capital Management Inc. purchased a new position in Washington Prime Group during the 3rd quarter valued at about $390,000. California Public Employees Retirement System lifted its position in Washington Prime Group by 13.5% during the 3rd quarter. California Public Employees Retirement System now owns 671,681 shares of the real estate investment trust’s stock valued at $5,595,000 after acquiring an additional 80,146 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new position in Washington Prime Group during the 3rd quarter valued at about $644,000. 89.86% of the stock is owned by hedge funds and other 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.

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