Short Interest in Washington Prime Group Inc. (WPG) Increases By 19.5%
Washington Prime Group Inc. (NYSE:WPG) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 21,589,346 shares, a growth of 19.5% from the October 13th total of 18,063,696 shares. Based on an average daily volume of 2,499,016 shares, the days-to-cover ratio is currently 8.6 days. Approximately 11.7% of the shares of the stock are sold short.
A number of institutional investors and hedge funds have recently bought and sold shares of WPG. Chilton Capital Management LLC bought a new position in Washington Prime Group during the 2nd quarter worth approximately $101,000. Jane Street Group LLC bought a new stake in shares of Washington Prime Group in the 3rd quarter worth approximately $104,000. Creative Planning grew its position in shares of Washington Prime Group by 26.9% in the 2nd quarter. Creative Planning now owns 12,772 shares of the real estate investment trust’s stock worth $107,000 after buying an additional 2,710 shares during the last quarter. Shelton Capital Management bought a new stake in shares of Washington Prime Group in the 2nd quarter worth approximately $111,000. Finally, Timber Hill LLC bought a new stake in shares of Washington Prime Group in the 2nd quarter worth approximately $113,000. Institutional investors and hedge funds own 89.60% of the company’s stock.
Several brokerages have recently commented on WPG. Zacks Investment Research lowered Washington Prime Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. Boenning Scattergood restated a “sell” rating on shares of Washington Prime Group in a research report on Friday, October 27th. ValuEngine upgraded Washington Prime Group from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. BidaskClub lowered Washington Prime Group from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Finally, TheStreet upgraded Washington Prime Group from a “d+” rating to a “c” rating in a research report on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold”.
Washington Prime Group (NYSE:WPG) opened at $7.34 on Monday. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.34. Washington Prime Group has a 1 year low of $6.71 and a 1 year high of $10.97. The stock has a market capitalization of $1,363.71, a P/E ratio of 4.40 and a beta of 0.92.
Washington Prime Group (NYSE:WPG) last posted its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.03). Washington Prime Group had a return on equity of 16.17% and a net margin of 21.85%. The company had revenue of $179.32 million for the quarter, compared to the consensus estimate of $188.54 million. During the same quarter in the previous year, the business earned $0.46 earnings per share. Washington Prime Group’s revenue was down 14.6% compared to the same quarter last year. analysts predict that Washington Prime Group will post 1.63 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.00 annualized dividend and a yield of 13.62%. Washington Prime Group’s payout ratio is 116.28%.
Washington Prime Group Company Profile
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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