Washington Prime Group Inc (NYSE:WPG) CEO Louis G. Conforti purchased 13,857 shares of the stock in a transaction dated Thursday, September 20th. The shares were purchased at an average cost of $7.22 per share, for a total transaction of $100,047.54. Following the transaction, the chief executive officer now owns 155,572 shares in the company, valued at approximately $1,123,229.84. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.
WPG traded down $0.19 on Friday, hitting $6.30. The company had a trading volume of 1,699,964 shares, compared to its average volume of 2,717,948. The firm has a market cap of $1.36 billion, a P/E ratio of 3.87 and a beta of 0.64. Washington Prime Group Inc has a 1 year low of $5.40 and a 1 year 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.
Washington Prime Group (NYSE:WPG) last issued its quarterly earnings data on Wednesday, July 25th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.32). The company had revenue of $178.73 million during the quarter, compared to analysts’ expectations of $182.11 million. Washington Prime Group had a net margin of 10.05% and a return on equity of 7.03%. The firm’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.50 earnings per share. Equities research analysts forecast that Washington Prime Group Inc will post 1.51 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 17th. Shareholders of record on Tuesday, September 4th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 31st. This represents a $1.00 dividend on an annualized basis and a yield of 15.87%. Washington Prime Group’s dividend payout ratio (DPR) is presently 61.35%.
A number of large investors have recently modified their holdings of WPG. Arizona State Retirement System increased its stake in shares of Washington Prime Group by 115.3% during the second quarter. Arizona State Retirement System now owns 270,683 shares of the real estate investment trust’s stock worth $2,195,000 after buying an additional 144,974 shares during the period. Principal Financial Group Inc. increased its stake in shares of Washington Prime Group by 4.2% during the first quarter. Principal Financial Group Inc. now owns 817,423 shares of the real estate investment trust’s stock worth $5,452,000 after buying an additional 33,167 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Washington Prime Group by 156.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,032 shares of the real estate investment trust’s stock worth $390,000 after buying an additional 29,316 shares during the period. Chicago Equity Partners LLC increased its stake in shares of Washington Prime Group by 763.4% during the second quarter. Chicago Equity Partners LLC now owns 658,725 shares of the real estate investment trust’s stock worth $5,342,000 after buying an additional 582,430 shares during the period. Finally, Private Management Group Inc. increased its stake in shares of Washington Prime Group by 0.5% during the second quarter. Private Management Group Inc. now owns 5,040,381 shares of the real estate investment trust’s stock worth $40,877,000 after buying an additional 22,831 shares during the period. Institutional investors own 83.32% of the company’s stock.
Several research analysts have recently weighed in on WPG shares. Zacks Investment Research raised shares of Washington Prime Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 16th. TheStreet lowered shares of Washington Prime Group from a “c” rating to a “d+” rating in a report on Thursday, July 26th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the company. Washington Prime Group presently has a consensus rating of “Hold” and an average target price of $7.00.
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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