ValuEngine Upgrades Washington Prime Group Inc. (WPG) to “Buy”
ValuEngine upgraded shares of Washington Prime Group Inc. (NYSE:WPG) from a hold rating to a buy rating in a research report report published on Monday.
Other equities analysts have also recently issued research reports about the company. BidaskClub cut Washington Prime Group from a buy rating to a hold rating in a report on Friday, August 18th. TheStreet upgraded Washington Prime Group from a d+ rating to a c rating in a report on Wednesday, July 26th. Zacks Investment Research cut Washington Prime Group from a hold rating to a sell rating in a report on Wednesday, August 2nd. Finally, Boenning Scattergood reiterated a hold rating on shares of Washington Prime Group in a report on Friday, July 28th. Two equities research 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 presently has an average rating of Hold.
Shares of Washington Prime Group (WPG) opened at 8.41 on Monday. The company’s 50-day moving average price is $8.39 and its 200-day moving average price is $8.47. The firm has a market cap of $1.56 billion, a PE ratio of 9.14 and a beta of 0.95. Washington Prime Group has a 52-week low of $7.31 and a 52-week high of $12.18.
Washington Prime Group (NYSE:WPG) last released its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.06. The firm had revenue of $189.17 million during the quarter, compared to analysts’ expectations of $197.69 million. Washington Prime Group had a return on equity of 17.36% and a net margin of 22.65%. The company’s revenue was down 8.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.45 EPS. Equities analysts expect that Washington Prime Group will post $0.94 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 11.89%. The ex-dividend date of this dividend was Wednesday, August 30th. Washington Prime Group’s dividend payout ratio (DPR) is presently 108.70%.
A number of hedge funds have recently added to or reduced their stakes in WPG. Chilton Capital Management LLC acquired a new position in shares of Washington Prime Group during the 2nd quarter worth about $101,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Washington Prime Group by 9.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,580 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 1,137 shares during the last quarter. Creative Planning boosted its stake in shares of Washington Prime Group by 26.9% during 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 acquired a new position in shares of Washington Prime Group during the 2nd quarter worth about $111,000. Finally, Timber Hill LLC acquired a new position in shares of Washington Prime Group during the 2nd quarter worth about $113,000. Hedge funds and other institutional investors own 92.00% of the company’s stock.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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