Dimensional Fund Advisors LP trimmed its position in Washington Prime Group Inc (NYSE:WPG) by 2.2% in the third quarter, Holdings Channel reports. The fund owned 2,898,753 shares of the real estate investment trust’s stock after selling 66,262 shares during the period. Dimensional Fund Advisors LP’s holdings in Washington Prime Group were worth $21,161,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Regent Investment Management LLC grew its stake in Washington Prime Group by 79.6% during the 3rd quarter. Regent Investment Management LLC now owns 18,049 shares of the real estate investment trust’s stock worth $132,000 after buying an additional 8,000 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its stake in shares of Washington Prime Group by 55.6% in the third quarter. Nissay Asset Management Corp Japan ADV now owns 22,450 shares of the real estate investment trust’s stock worth $164,000 after purchasing an additional 8,023 shares in the last quarter. LSV Asset Management grew its stake in shares of Washington Prime Group by 0.5% in the third quarter. LSV Asset Management now owns 1,923,945 shares of the real estate investment trust’s stock worth $14,044,000 after purchasing an additional 8,700 shares in the last quarter. Redpoint Investment Management Pty Ltd bought a new position in shares of Washington Prime Group in the third quarter worth $101,000. Finally, Virginia Retirement Systems ET AL grew its stake in shares of Washington Prime Group by 19.4% in the third quarter. Virginia Retirement Systems ET AL now owns 86,000 shares of the real estate investment trust’s stock worth $628,000 after purchasing an additional 14,000 shares in the last quarter. Institutional investors and hedge funds own 86.69% of the company’s stock.
Shares of NYSE WPG opened at $5.34 on Friday. Washington Prime Group Inc has a 12 month low of $4.63 and a 12 month high of $8.44. The firm has a market cap of $1.06 billion, a PE ratio of 3.28 and a beta of 0.99. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.65 and a quick ratio of 0.65.
WPG has been the subject of several recent analyst reports. Zacks Investment Research raised Washington Prime Group from a “sell” rating to a “hold” rating in a research note on Saturday, December 15th. Goldman Sachs Group cut Washington Prime Group from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $6.60 to $4.30 in a research note on Tuesday, December 18th. Three research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Washington Prime Group presently has an average rating of “Sell” and a consensus price target of $6.10.
In related news, Director Robert J. Laikin acquired 49,200 shares of the stock in a transaction dated Tuesday, December 11th. The shares were acquired at an average price of $6.09 per share, with a total value of $299,628.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Louis G. Conforti acquired 16,286 shares of the stock in a transaction dated Thursday, November 15th. The shares were bought at an average cost of $6.14 per share, for a total transaction of $99,996.04. Following the acquisition, 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. Over the last ninety days, insiders have bought 111,233 shares of company stock valued at $620,417. 0.41% of the stock is currently owned by company insiders.
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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