Analysts Expect Washington Prime Group Inc (WPG) to Post $0.43 Earnings Per Share

Analysts predict that Washington Prime Group Inc (NYSE:WPG) will post $0.43 earnings per share for the current quarter, according to Zacks. Two analysts have provided estimates for Washington Prime Group’s earnings, with the lowest EPS estimate coming in at $0.42 and the highest estimate coming in at $0.44. Washington Prime Group posted earnings per share of $0.48 during the same quarter last year, which indicates a negative year-over-year growth rate of 10.4%. The firm is expected to announce its next earnings results on Wednesday, February 28th.

According to Zacks, analysts expect that Washington Prime Group will report full year earnings of $1.63 per share for the current financial year. For the next fiscal year, analysts expect that the firm will report earnings of $1.59 per share, with EPS estimates ranging from $1.56 to $1.61. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Washington Prime Group.

Washington Prime Group (NYSE:WPG) last released its earnings results 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). The business had revenue of $179.32 million for the quarter, compared to analysts’ expectations of $188.54 million. Washington Prime Group had a net margin of 21.85% and a return on equity of 16.17%. The company’s revenue was down 14.6% compared to the same quarter last year. During the same period last year, the firm earned $0.46 EPS.

WPG has been the subject of several recent research reports. Zacks Investment Research cut Washington Prime Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. ValuEngine raised Washington Prime Group from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, Boenning Scattergood reissued a “sell” rating on shares of Washington Prime Group in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. Washington Prime Group presently has a consensus rating of “Hold”.

Shares of Washington Prime Group (NYSE WPG) traded down $0.14 during midday trading on Friday, hitting $7.05. The company had a trading volume of 2,586,800 shares, compared to its average volume of 2,492,067. The company has a market cap of $1,300.00, a PE ratio of 9.79 and a beta of 0.89. Washington Prime Group has a 1-year low of $6.62 and a 1-year high of $10.95. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.34.

The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were paid a $0.25 dividend. The ex-dividend date was Thursday, November 30th. This represents a $1.00 annualized dividend and a dividend yield of 14.18%. Washington Prime Group’s payout ratio is 138.89%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAM Holding AG boosted its position in Washington Prime Group by 0.7% during the second quarter. GAM Holding AG now owns 15,305 shares of the real estate investment trust’s stock worth $128,000 after purchasing an additional 100 shares during the period. Amalgamated Bank boosted its position in Washington Prime Group by 2.0% during the second quarter. Amalgamated Bank now owns 26,509 shares of the real estate investment trust’s stock worth $222,000 after purchasing an additional 524 shares during the period. Comerica Bank boosted its position in Washington Prime Group by 0.6% during the second quarter. Comerica Bank now owns 143,362 shares of the real estate investment trust’s stock worth $1,300,000 after purchasing an additional 786 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Washington Prime Group by 13.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,322 shares of the real estate investment trust’s stock worth $120,000 after purchasing an additional 1,742 shares during the period. Finally, Pacad Investment Ltd. boosted its position in Washington Prime Group by 14.2% during the second quarter. Pacad Investment Ltd. now owns 34,150 shares of the real estate investment trust’s stock worth $286,000 after purchasing an additional 4,250 shares during the period. 89.83% of the stock is owned by institutional investors and hedge funds.

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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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