GSA Capital Partners LLP bought a new position in shares of Washington Prime Group Inc (NYSE:WPG) during the second quarter, Holdings Channel reports. The institutional investor bought 70,276 shares of the real estate investment trust’s stock, valued at approximately $570,000.
Other large investors have also recently added to or reduced their stakes in the company. Wedbush Securities Inc. acquired a new position in Washington Prime Group during the second quarter worth about $130,000. Verition Fund Management LLC acquired a new position in Washington Prime Group during the first quarter worth about $148,000. Everence Capital Management Inc. acquired a new position in Washington Prime Group during the second quarter worth about $194,000. Element Capital Management LLC acquired a new position in Washington Prime Group during the first quarter worth about $211,000. Finally, Eqis Capital Management Inc. acquired a new position in Washington Prime Group during the second quarter worth about $221,000. 83.33% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently issued reports on WPG. Zacks Investment Research raised Washington Prime Group from a “sell” rating to a “hold” rating in a report on Saturday, June 16th. ValuEngine raised Washington Prime Group from a “hold” rating to a “buy” rating in a research note on Tuesday, May 29th. Finally, TheStreet cut Washington Prime Group from a “c” rating to a “d+” rating in a research note on Thursday, July 26th. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Washington Prime Group currently has a consensus rating of “Hold” and a consensus price target of $7.00.
Shares of WPG opened at $7.38 on Friday. The stock has a market capitalization of $1.40 billion, a P/E ratio of 4.53 and a beta of 0.63. Washington Prime Group Inc has a 1-year low of $5.40 and a 1-year high of $8.87. The company has a debt-to-equity ratio of 3.02, a quick ratio of 0.53 and a current ratio of 0.53.
Washington Prime Group (NYSE:WPG) last issued its quarterly earnings results on Wednesday, July 25th. The real estate investment trust reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.32). The company had revenue of $178.73 million during the quarter, compared to analysts’ expectations of $182.11 million. Washington Prime Group had a return on equity of 7.03% and a net margin of 10.05%. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.50 EPS. equities analysts forecast that Washington Prime Group Inc will post 1.51 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 17th. Investors of record on Tuesday, September 4th will be paid a $0.25 dividend. The ex-dividend date is Friday, August 31st. This represents a $1.00 dividend on an annualized basis and a yield of 13.55%. Washington Prime Group’s dividend payout ratio is currently 61.35%.
About Washington Prime Group
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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