Comerica Bank Acquires 786 Shares of Washington Prime Group Inc. (WPG)

Comerica Bank raised its holdings in Washington Prime Group Inc. (NYSE:WPG) by 0.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 143,362 shares of the real estate investment trust’s stock after buying an additional 786 shares during the period. Comerica Bank owned approximately 0.08% of Washington Prime Group worth $1,300,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. ProShare Advisors LLC boosted its position in Washington Prime Group by 15.1% in the 1st quarter. ProShare Advisors LLC now owns 111,901 shares of the real estate investment trust’s stock valued at $765,000 after buying an additional 14,662 shares during the period. BlackRock Inc. boosted its position in Washington Prime Group by 6,927.1% in the 1st quarter. BlackRock Inc. now owns 24,434,249 shares of the real estate investment trust’s stock valued at $212,335,000 after buying an additional 24,086,536 shares during the period. State Street Corp boosted its position in Washington Prime Group by 0.6% in the 1st quarter. State Street Corp now owns 8,566,191 shares of the real estate investment trust’s stock valued at $74,442,000 after buying an additional 52,274 shares during the period. California Public Employees Retirement System boosted its position in Washington Prime Group by 3.7% in the 1st quarter. California Public Employees Retirement System now owns 542,435 shares of the real estate investment trust’s stock valued at $4,714,000 after buying an additional 19,300 shares during the period. Finally, Clinton Group Inc. purchased a new position in Washington Prime Group in the 1st quarter valued at approximately $286,000. 92.03% of the stock is owned by institutional investors.

Several equities analysts have commented on WPG shares. Boenning Scattergood cut shares of Washington Prime Group from a “neutral” rating to an “under perform” rating in a research report on Wednesday, August 23rd. Zacks Investment Research cut shares of Washington Prime Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. BidaskClub raised shares of Washington Prime Group from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. ValuEngine cut shares of Washington Prime Group from a “buy” rating to a “hold” rating in a research report on Tuesday, June 6th. Finally, TheStreet raised shares of Washington Prime Group from a “d+” rating to a “c” rating in a research report on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $9.25.

Shares of Washington Prime Group Inc. (NYSE:WPG) opened at 8.48 on Friday. Washington Prime Group Inc. has a 52-week low of $7.31 and a 52-week high of $12.78. The stock’s 50 day moving average is $8.63 and its 200 day moving average is $8.50. The stock has a market capitalization of $1.58 billion, a PE ratio of 9.22 and a beta of 0.95.

Washington Prime Group (NYSE:WPG) last released its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.06. Washington Prime Group had a net margin of 22.65% and a return on equity of 17.36%. The company had revenue of $189.17 million during the quarter, compared to analyst estimates of $197.69 million. During the same quarter in the prior year, the business earned $0.45 earnings per share. The business’s quarterly revenue was down 8.1% compared to the same quarter last year. Equities research analysts expect that Washington Prime Group Inc. will post $0.94 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 11.79%. The ex-dividend date was Wednesday, August 30th. Washington Prime Group’s payout ratio is currently 108.70%.

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Washington Prime Group 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.

Institutional Ownership by Quarter for Washington Prime Group (NYSE:WPG)

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