Washington Prime Group Inc (WPG) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Washington Prime Group Inc (NYSE:WPG) have earned a consensus recommendation of “Hold” from the six brokerages that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $7.50.

Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Washington Prime Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. SunTrust Banks restated a “hold” rating and set a $7.50 target price on shares of Washington Prime Group in a research report on Monday. ValuEngine upgraded Washington Prime Group from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Boenning Scattergood restated a “sell” rating on shares of Washington Prime Group in a research report on Friday, October 27th.

Institutional investors and hedge funds have recently modified their holdings of the stock. Chilton Capital Management LLC acquired a new position in shares of Washington Prime Group in the 2nd quarter valued at approximately $101,000. Jane Street Group LLC acquired a new position in shares of Washington Prime Group in the 3rd quarter valued at approximately $104,000. Shelton Capital Management acquired a new position in shares of Washington Prime Group in the 2nd quarter valued at approximately $111,000. Riverhead Capital Management LLC grew its position in shares of Washington Prime Group by 71.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 13,885 shares of the real estate investment trust’s stock valued at $116,000 after purchasing an additional 5,785 shares during the period. Finally, Optimum Investment Advisors acquired a new position in shares of Washington Prime Group in the 2nd quarter valued at approximately $122,000. Institutional investors and hedge funds own 89.63% of the company’s stock.

Washington Prime Group (NYSE:WPG) traded up $0.07 during trading on Monday, hitting $6.90. The stock had a trading volume of 1,702,400 shares, compared to its average volume of 2,786,492. The firm has a market cap of $1,290.00, a price-to-earnings ratio of 9.58 and a beta of 0.89. Washington Prime Group has a 52 week low of $6.62 and a 52 week high of $9.96. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.07 and a quick ratio of 0.07.

Washington Prime Group (NYSE:WPG) last posted its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.37 earnings per share (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 return on equity of 16.17% and a net margin of 21.85%. Washington Prime Group’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.46 earnings per share. equities research analysts expect that Washington Prime Group will post 1.63 EPS for the current fiscal year.

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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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