Washington Prime Group (NYSE:WPG) shares traded down 5.1% during mid-day trading on Thursday . The stock traded as low as $6.25 and last traded at $6.32. 4,233,974 shares were traded during mid-day trading, an increase of 54% from the average session volume of 2,740,594 shares. The stock had previously closed at $6.66.
Several research analysts have issued reports on the stock. Zacks Investment Research raised shares of Washington Prime Group from a “sell” rating to a “hold” rating in a report on Thursday, December 28th. SunTrust Banks set a $8.00 target price on shares of Washington Prime Group and gave the stock a “hold” rating in a report on Monday, January 22nd. ValuEngine raised shares of Washington Prime Group from a “hold” rating to a “buy” rating in a report on Tuesday, February 27th. Finally, Boenning Scattergood reaffirmed a “sell” rating on shares of Washington Prime Group in a report on Friday, February 23rd. Two analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $8.00.
The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $1,254.09, a PE ratio of 3.88 and a beta of 0.60.
Washington Prime Group (NYSE:WPG) last issued its earnings results on Wednesday, February 21st. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.17). The firm had revenue of $187.24 million during the quarter, compared to analysts’ expectations of $192.93 million. Washington Prime Group had a return on equity of 18.15% and a net margin of 25.53%. analysts predict that Washington Prime Group will post 1.52 EPS for the current fiscal year.
In other news, CEO Louis G. Conforti bought 28,198 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was acquired at an average cost of $6.49 per share, with a total value of $183,005.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.41% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the company. Regent Investment Management LLC bought a new stake in shares of Washington Prime Group in the fourth quarter worth approximately $100,000. Jane Street Group LLC bought a new stake in shares of Washington Prime Group in the third quarter worth approximately $104,000. Bfsg LLC bought a new stake in shares of Washington Prime Group in the fourth quarter worth approximately $135,000. MANA Advisors LLC bought a new stake in shares of Washington Prime Group in the fourth quarter worth approximately $146,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Washington Prime Group in the fourth quarter worth approximately $150,000. Hedge funds and other institutional investors own 91.74% of the company’s stock.
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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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