Analysts expect that Washington Prime Group Inc. (NYSE:WPG) will post $0.43 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have provided estimates for Washington Prime Group’s earnings, with the highest EPS estimate coming in at $0.44 and the lowest estimate coming in at $0.42. Washington Prime Group posted earnings of $0.14 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 207.1%. The business is expected to issue its next quarterly earnings results on Wednesday, February 28th.
On average, analysts expect that Washington Prime Group will report full-year earnings of $1.63 per share for the current fiscal year. For the next fiscal year, analysts forecast that the business will report earnings of $1.59 per share, with EPS estimates ranging from $1.56 to $1.61. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Washington Prime Group.
Washington Prime Group (NYSE:WPG) last announced its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). Washington Prime Group had a net margin of 21.85% and a return on equity of 16.17%. The business had revenue of $179.32 million during the quarter, compared to analyst estimates of $188.54 million. During the same quarter in the prior year, the company posted $0.46 EPS. The company’s quarterly revenue was down 14.6% compared to the same quarter last year.
A number of research firms have recently weighed in on WPG. Boenning Scattergood reissued a “sell” rating on shares of Washington Prime Group in a report on Friday. Zacks Investment Research raised Washington Prime Group from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. BidaskClub downgraded Washington Prime Group from a “buy” rating to a “hold” rating in a report on Friday, August 18th. TheStreet raised Washington Prime Group from a “d+” rating to a “c” rating in a report on Wednesday, July 26th. Finally, ValuEngine downgraded Washington Prime Group from a “buy” rating to a “hold” rating in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold”.
A number of hedge funds and other institutional investors have recently modified their holdings of WPG. Chilton Capital Management LLC acquired a new position in Washington Prime Group during the second quarter worth about $101,000. Creative Planning raised its stake in Washington Prime Group by 26.9% during the second quarter. Creative Planning now owns 12,772 shares of the real estate investment trust’s stock worth $107,000 after acquiring an additional 2,710 shares in the last quarter. Shelton Capital Management acquired a new position in Washington Prime Group during the second quarter worth about $111,000. Timber Hill LLC acquired a new position in Washington Prime Group during the second quarter worth about $113,000. Finally, Riverhead Capital Management LLC raised its stake in Washington Prime Group by 71.4% during the second quarter. Riverhead Capital Management LLC now owns 13,885 shares of the real estate investment trust’s stock worth $116,000 after acquiring an additional 5,785 shares in the last quarter. 91.87% of the stock is owned by hedge funds and other institutional investors.
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Shares of Washington Prime Group (NYSE WPG) traded down 1.38% during trading on Friday, hitting $7.87. 4,327,298 shares of the stock were exchanged. The firm’s 50-day moving average is $8.41 and its 200 day moving average is $8.48. The company has a market cap of $1.46 billion, a P/E ratio of 8.55 and a beta of 0.95. Washington Prime Group has a 1-year low of $7.31 and a 1-year high of $11.07.
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.
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