Legal & General Group Plc boosted its holdings in Washington Prime Group Inc (NYSE:WPG) by 3.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 827,988 shares of the real estate investment trust’s stock after acquiring an additional 26,525 shares during the period. Legal & General Group Plc owned 0.45% of Washington Prime Group worth $5,523,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. MANA Advisors LLC bought a new stake in Washington Prime Group in the 4th quarter valued at $146,000. Xact Kapitalforvaltning AB bought a new stake in Washington Prime Group in the 4th quarter valued at $156,000. Verition Fund Management LLC bought a new stake in Washington Prime Group in the 1st quarter valued at $148,000. Virtu Financial LLC bought a new stake in Washington Prime Group in the 4th quarter valued at $163,000. Finally, Elkfork Partners LLC bought a new stake in Washington Prime Group in the 4th quarter valued at $170,000. Institutional investors and hedge funds own 86.45% of the company’s stock.
Shares of NYSE WPG opened at $8.09 on Thursday. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 1.03. Washington Prime Group Inc has a one year low of $5.40 and a one year high of $9.79. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 5.06 and a beta of 0.65.
Washington Prime Group (NYSE:WPG) last issued its quarterly earnings data on Wednesday, April 25th. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.30). Washington Prime Group had a net margin of 26.94% and a return on equity of 18.52%. The firm had revenue of $180.34 million during the quarter, compared to analyst estimates of $178.70 million. equities analysts forecast that Washington Prime Group Inc will post 1.52 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Friday, June 1st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 12.36%. The ex-dividend date of this dividend was Thursday, May 31st. Washington Prime Group’s dividend payout ratio is 61.35%.
A number of research firms recently weighed in on WPG. Boenning Scattergood restated a “sell” rating and issued a $6.00 price target on shares of Washington Prime Group in a research note on Friday, April 27th. Zacks Investment Research raised Washington Prime Group from a “sell” rating to a “hold” rating in a report on Saturday, June 16th. Finally, ValuEngine raised Washington Prime Group from a “hold” rating to a “buy” rating in a report on Tuesday, May 29th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $7.00.
Washington Prime Group Profile
Washington Prime Group Inc is a retail REIT and a recognized leader in the ownership, management, acquisition and development of retail properties. The Company combines a national real estate portfolio with an investment grade balance sheet, leveraging its expertise across the entire shopping center sector to increase cash flow through rigorous management of assets and provide new opportunities to retailers looking for growth throughout the U.S.
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