Research Analysts Offer Predictions for Washington Prime Group Inc’s FY2018 Earnings (WPG)

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Washington Prime Group Inc (NYSE:WPG) – SunTrust Banks decreased their FY2018 earnings per share (EPS) estimates for shares of Washington Prime Group in a report released on Wednesday, August 15th. SunTrust Banks analyst K. Kim now anticipates that the real estate investment trust will post earnings of $1.51 per share for the year, down from their prior forecast of $1.52. SunTrust Banks also issued estimates for Washington Prime Group’s Q4 2018 earnings at $0.39 EPS, FY2019 earnings at $1.35 EPS, FY2020 earnings at $1.31 EPS and FY2022 earnings at $1.28 EPS.

Washington Prime Group (NYSE:WPG) last posted its 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 business had revenue of $178.73 million during the quarter, compared to the consensus estimate of $182.11 million. Washington Prime Group had a net margin of 10.05% and a return on equity of 7.03%. The business’s revenue was down 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.50 EPS.

WPG has been the topic of a number of other research reports. Boenning Scattergood reissued a “sell” rating and issued a $6.00 target price on shares of Washington Prime Group in a research note on Friday, April 27th. Zacks Investment Research raised shares of Washington Prime Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 16th. ValuEngine raised shares of Washington Prime Group from a “hold” rating to a “buy” rating in a research note on Tuesday, May 29th. Finally, TheStreet cut shares of Washington Prime Group from a “c” rating to a “d+” rating in a research note on Thursday, July 26th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $7.00.

NYSE WPG opened at $7.92 on Monday. The stock has a market capitalization of $1.46 billion, a P/E ratio of 4.82 and a beta of 0.64. Washington Prime Group has a twelve month low of $5.40 and a twelve month high of $8.87. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 3.02.

A number of large investors have recently added to or reduced their stakes in the business. MetLife Investment Advisors LLC boosted its position in Washington Prime Group by 4.0% in the first quarter. MetLife Investment Advisors LLC now owns 201,398 shares of the real estate investment trust’s stock valued at $1,343,000 after buying an additional 7,768 shares in the last quarter. ARP Americas LP lifted its position in shares of Washington Prime Group by 8.2% during the first quarter. ARP Americas LP now owns 114,100 shares of the real estate investment trust’s stock worth $761,000 after purchasing an additional 8,600 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Washington Prime Group by 8.4% during the first quarter. Nomura Asset Management Co. Ltd. now owns 117,100 shares of the real estate investment trust’s stock worth $781,000 after purchasing an additional 9,100 shares in the last quarter. Kempen Capital Management N.V. lifted its position in shares of Washington Prime Group by 2.4% during the first quarter. Kempen Capital Management N.V. now owns 433,766 shares of the real estate investment trust’s stock worth $2,893,000 after purchasing an additional 9,984 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Washington Prime Group by 19.3% during the first quarter. Russell Investments Group Ltd. now owns 68,749 shares of the real estate investment trust’s stock worth $459,000 after purchasing an additional 11,108 shares in the last quarter. Hedge funds and other institutional investors own 83.61% of the company’s stock.

In other news, CEO Louis G. Conforti purchased 20,500 shares of Washington Prime Group stock in a transaction on Wednesday, August 8th. The shares were purchased at an average cost of $7.31 per share, for a total transaction of $149,855.00. Following the completion of the transaction, the chief executive officer now directly owns 141,715 shares in the company, valued at $1,035,936.65. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.41% of the stock is owned by insiders.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 17th. Shareholders of record on Tuesday, September 4th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 31st. This represents a $1.00 dividend on an annualized basis and a yield of 12.63%. Washington Prime Group’s dividend payout ratio (DPR) is presently 61.35%.

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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Earnings History and Estimates for Washington Prime Group (NYSE:WPG)

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