Advisors Asset Management Inc. increased its position in shares of Washington Prime Group Inc. (NYSE:WPG) by 133.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,011,349 shares of the real estate investment trust’s stock after buying an additional 578,341 shares during the period. Advisors Asset Management Inc.’s holdings in Washington Prime Group were worth $8,465,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of WPG. Vanguard Group Inc. raised its stake in shares of Washington Prime Group by 2.8% in the first quarter. Vanguard Group Inc. now owns 35,917,881 shares of the real estate investment trust’s stock worth $312,126,000 after buying an additional 977,722 shares in the last quarter. BlackRock Inc. raised its stake in shares of Washington Prime Group by 6,927.1% in the first quarter. BlackRock Inc. now owns 24,434,249 shares of the real estate investment trust’s stock worth $212,335,000 after buying an additional 24,086,536 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Washington Prime Group by 4.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 11,334,720 shares of the real estate investment trust’s stock worth $98,498,000 after buying an additional 491,753 shares in the last quarter. State Street Corp raised its stake in shares of Washington Prime Group by 0.6% in the first quarter. State Street Corp now owns 8,566,191 shares of the real estate investment trust’s stock worth $74,442,000 after buying an additional 52,274 shares in the last quarter. Finally, APG Asset Management US Inc. bought a new stake in shares of Washington Prime Group during the second quarter worth about $40,827,000. 95.27% of the stock is owned by hedge funds and other institutional investors.

Shares of Washington Prime Group Inc. (WPG) opened at 8.90 on Tuesday. The company has a 50 day moving average price of $8.78 and a 200 day moving average price of $8.66. Washington Prime Group Inc. has a 12-month low of $7.31 and a 12-month high of $14.15. The company has a market capitalization of $1.65 billion, a P/E ratio of 9.67 and a beta of 0.95.

Washington Prime Group (NYSE:WPG) last released its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.06. The business 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% compared to the same quarter last year. During the same period in the prior year, the business posted $0.45 EPS. Equities analysts anticipate that Washington Prime Group Inc. will post $0.94 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.24%. The ex-dividend date is Wednesday, August 30th. Washington Prime Group’s dividend payout ratio is presently 108.70%.

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A number of analysts have recently issued reports on WPG shares. TheStreet raised shares of Washington Prime Group from a “d+” rating to a “c” rating in a research note on Wednesday, July 26th. BidaskClub raised shares of Washington Prime Group from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. Zacks Investment Research lowered shares of Washington Prime Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 17th. ValuEngine lowered shares of Washington Prime Group from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Washington Prime Group in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $9.25.

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.

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Institutional Ownership by Quarter for Washington Prime Group (NYSE:WPG)

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