Comerica Bank cut its stake in Washington Prime Group Inc (NYSE:WPG) by 8.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 180,043 shares of the real estate investment trust’s stock after selling 16,319 shares during the quarter. Comerica Bank owned 0.10% of Washington Prime Group worth $1,134,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in WPG. BlackRock Inc. increased its stake in shares of Washington Prime Group by 15.7% in the 2nd quarter. BlackRock Inc. now owns 29,478,010 shares of the real estate investment trust’s stock valued at $239,065,000 after acquiring an additional 4,009,321 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new stake in shares of Washington Prime Group in the 3rd quarter valued at about $9,746,000. Northern Trust Corp increased its stake in shares of Washington Prime Group by 15.9% in the 2nd quarter. Northern Trust Corp now owns 4,429,775 shares of the real estate investment trust’s stock valued at $35,924,000 after acquiring an additional 607,560 shares during the last quarter. Chicago Equity Partners LLC increased its stake in shares of Washington Prime Group by 763.4% in the 2nd quarter. Chicago Equity Partners LLC now owns 658,725 shares of the real estate investment trust’s stock valued at $5,342,000 after acquiring an additional 582,430 shares during the last quarter. Finally, Cortina Asset Management LLC bought a new stake in shares of Washington Prime Group in the 2nd quarter valued at about $4,652,000. 86.72% of the stock is owned by institutional investors.
In other Washington Prime Group news, CEO Louis G. Conforti bought 13,857 shares of the stock in a transaction that occurred on Thursday, September 20th. The stock was acquired at an average cost of $7.22 per share, with a total value of $100,047.54. Following the purchase, the chief executive officer now owns 155,572 shares in the company, valued at $1,123,229.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Louis G. Conforti bought 16,286 shares of the stock in a transaction that occurred on Thursday, November 15th. The shares were acquired at an average cost of $6.14 per share, with a total value of $99,996.04. Following the completion of the purchase, the chief executive officer now owns 171,858 shares in the company, valued at approximately $1,055,208.12. The disclosure for this purchase can be found here. 0.41% of the stock is currently owned by corporate insiders.
NYSE WPG opened at $6.15 on Friday. Washington Prime Group Inc has a 52-week low of $5.40 and a 52-week high of $8.44. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market cap of $1.11 billion, a P/E ratio of 3.77 and a beta of 0.75.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 30th. This represents a $1.00 dividend on an annualized basis and a yield of 16.26%. Washington Prime Group’s payout ratio is 61.35%.
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Washington Prime Group Company 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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