State Board of Administration of Florida Retirement System Holds Position in Washington Prime Group Inc. (WPG)

State Board of Administration of Florida Retirement System held its stake in Washington Prime Group Inc. (NYSE:WPG) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 139,951 shares of the real estate investment trust’s stock at the close of the 2nd quarter. State Board of Administration of Florida Retirement System owned 0.08% of Washington Prime Group worth $1,171,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of WPG. Louisiana State Employees Retirement System increased its holdings in Washington Prime Group by 2.2% in the first quarter. Louisiana State Employees Retirement System now owns 46,800 shares of the real estate investment trust’s stock worth $407,000 after purchasing an additional 1,000 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Washington Prime Group by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 65,082 shares of the real estate investment trust’s stock worth $566,000 after purchasing an additional 900 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in Washington Prime Group by 2.4% in the first quarter. Great West Life Assurance Co. Can now owns 203,601 shares of the real estate investment trust’s stock worth $1,767,000 after purchasing an additional 4,734 shares in the last quarter. State Treasurer State of Michigan increased its holdings in Washington Prime Group by 0.9% in the first quarter. State Treasurer State of Michigan now owns 75,321 shares of the real estate investment trust’s stock worth $655,000 after purchasing an additional 700 shares in the last quarter. Finally, American Century Companies Inc. bought a new stake in Washington Prime Group in the first quarter worth approximately $7,401,000. Institutional investors and hedge funds own 92.00% of the company’s stock.

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Shares of Washington Prime Group Inc. (NYSE WPG) opened at 8.10 on Wednesday. The company has a market cap of $1.50 billion, a P/E ratio of 8.80 and a beta of 0.95. Washington Prime Group Inc. has a 12-month low of $7.31 and a 12-month high of $12.78. The stock’s 50 day moving average price is $8.58 and its 200 day moving average price is $8.48.

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 for the quarter, topping the consensus estimate of $0.66 by $0.06. Washington Prime Group had a return on equity of 17.36% and a net margin of 22.65%. The business had revenue of $189.17 million during the quarter, compared to analysts’ expectations of $197.69 million. During the same quarter last year, the business posted $0.45 EPS. The business’s revenue was down 8.1% on a year-over-year basis. On average, analysts forecast that Washington Prime Group Inc. will post $0.94 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 12.35%. The ex-dividend date was Wednesday, August 30th. Washington Prime Group’s dividend payout ratio (DPR) is currently 108.70%.

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

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.

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

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