Washington Prime Group Inc (WPG) Expected to Announce Earnings of $0.44 Per Share

Equities analysts expect Washington Prime Group Inc (NYSE:WPG) to report earnings of $0.44 per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Washington Prime Group’s earnings. Washington Prime Group posted earnings of $0.48 per share during the same quarter last year, which would indicate a negative year over year growth rate of 8.3%. The business is scheduled to report its next earnings report after the market closes on Wednesday, February 21st.

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

Several research analysts have recently weighed in on the stock. ValuEngine cut shares of Washington Prime Group from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Zacks Investment Research cut shares of Washington Prime Group from a “hold” rating to a “sell” rating in a research note on Friday, January 26th. SunTrust Banks set a $8.00 price target on shares of Washington Prime Group and gave the stock a “hold” rating in a research note on Monday, January 22nd. Finally, Boenning Scattergood reiterated a “sell” rating on shares of Washington Prime Group in a research note on Friday, October 27th. Two analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Washington Prime Group presently has an average rating of “Hold” and a consensus price target of $8.00.

Several institutional investors have recently modified their holdings of the company. New Mexico Educational Retirement Board boosted its stake in shares of Washington Prime Group by 91.6% during the 4th quarter. New Mexico Educational Retirement Board now owns 46,000 shares of the real estate investment trust’s stock worth $328,000 after acquiring an additional 21,986 shares during the last quarter. Beach Point Capital Management LP purchased a new position in shares of Washington Prime Group during the 4th quarter worth $1,192,000. Swiss National Bank boosted its stake in shares of Washington Prime Group by 3.7% during the 4th quarter. Swiss National Bank now owns 316,366 shares of the real estate investment trust’s stock worth $2,253,000 after acquiring an additional 11,300 shares during the last quarter. Renaissance Group LLC purchased a new position in shares of Washington Prime Group during the 4th quarter valued at $395,000. Finally, California Public Employees Retirement System lifted its stake in shares of Washington Prime Group by 20.2% during the 4th quarter. California Public Employees Retirement System now owns 807,609 shares of the real estate investment trust’s stock valued at $5,750,000 after buying an additional 135,928 shares in the last quarter. Institutional investors and hedge funds own 86.96% of the company’s stock.

Shares of Washington Prime Group (NYSE WPG) traded down $0.06 during trading on Thursday, hitting $6.09. 384,981 shares of the stock traded hands, compared to its average volume of 2,367,339. The stock has a market cap of $1,150.05, a PE ratio of 7.06 and a beta of 0.74. Washington Prime Group has a 1-year low of $5.83 and a 1-year high of $9.81. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.34.

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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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Earnings History and Estimates for Washington Prime Group (NYSE:WPG)

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