Washington Prime Group Inc (NYSE:WPG) CEO Louis G. Conforti purchased 22,500 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was acquired at an average cost of $4.55 per share, for a total transaction of $102,375.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
NYSE WPG traded down $0.03 during trading hours on Thursday, reaching $4.39. The company’s stock had a trading volume of 1,732,882 shares, compared to its average volume of 2,474,161. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 3.40. Washington Prime Group Inc has a 1 year low of $4.23 and a 1 year high of $8.44. The stock has a market cap of $824.33 million, a PE ratio of 2.91 and a beta of 1.01.
Washington Prime Group (NYSE:WPG) last posted its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported ($0.03) EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.32). The business had revenue of $168.82 million during the quarter, compared to analysts’ expectations of $169.27 million. Washington Prime Group had a return on equity of 7.53% and a net margin of 9.96%. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.39 earnings per share. On average, analysts forecast that Washington Prime Group Inc will post 1.2 EPS for the current fiscal year.
A number of research firms recently commented on WPG. ValuEngine cut Washington Prime Group from a “hold” rating to a “sell” rating in a report on Thursday, April 11th. TheStreet raised Washington Prime Group from a “d+” rating to a “c” rating in a report on Thursday, March 7th. Finally, Zacks Investment Research cut Washington Prime Group from a “hold” rating to a “sell” rating in a report on Wednesday, March 27th. Four analysts have rated the stock with a sell rating, The company presently has a consensus rating of “Sell” and an average target price of $4.75.
Institutional investors and hedge funds have recently modified their holdings of the company. Truehand Inc purchased a new stake in shares of Washington Prime Group during the 4th quarter worth approximately $29,000. Parallel Advisors LLC purchased a new stake in shares of Washington Prime Group during the 1st quarter worth approximately $31,000. Bank of Montreal Can raised its holdings in shares of Washington Prime Group by 97.1% during the 1st quarter. Bank of Montreal Can now owns 7,396 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 3,643 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in shares of Washington Prime Group during the 1st quarter worth approximately $48,000. Finally, Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in shares of Washington Prime Group during the 1st quarter worth approximately $57,000. 86.47% of the stock is currently owned by institutional investors and hedge funds.
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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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