California Public Employees Retirement System raised its position in shares of Washington Prime Group Inc. (NYSE:WPG) by 3.7% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 542,435 shares of the real estate investment trust’s stock after buying an additional 19,300 shares during the period. California Public Employees Retirement System owned about 0.29% of Washington Prime Group worth $4,714,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Teza Capital Management LLC purchased a new position in Washington Prime Group during the first quarter valued at $103,000. Wedbush Securities Inc. purchased a new position in Washington Prime Group during the first quarter valued at $108,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Washington Prime Group by 9.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,580 shares of the real estate investment trust’s stock valued at $109,000 after buying an additional 1,137 shares in the last quarter. Spectrum Management Group Inc. purchased a new position in Washington Prime Group during the first quarter valued at $114,000. Finally, Daiwa Securities Group Inc. boosted its position in Washington Prime Group by 31.0% in the first quarter. Daiwa Securities Group Inc. now owns 14,353 shares of the real estate investment trust’s stock valued at $125,000 after buying an additional 3,400 shares in the last quarter. 92.46% of the stock is owned by hedge funds and other institutional investors.

Washington Prime Group Inc. (WPG) traded up 1.98% during mid-day trading on Monday, reaching $9.28. The company had a trading volume of 1,750,046 shares. Washington Prime Group Inc. has a one year low of $7.31 and a one year high of $14.15. The company has a market capitalization of $1.72 billion, a P/E ratio of 10.09 and a beta of 0.95. The stock has a 50 day moving average price of $8.57 and a 200 day moving average price of $8.72.

Washington Prime Group (NYSE:WPG) last issued its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.06. The company had revenue of $189.17 million during the quarter, compared to the consensus estimate of $197.69 million. Washington Prime Group had a return on equity of 17.36% and a net margin of 22.65%. The firm’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same period last year, the business posted $0.45 EPS. On average, equities analysts expect that Washington Prime Group Inc. will post $1.05 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.00 annualized dividend and a dividend yield of 10.78%. Washington Prime Group’s dividend payout ratio is presently 108.70%.

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Several research analysts have recently weighed in on the company. Zacks Investment Research cut Washington Prime Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. BidaskClub raised Washington Prime Group from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Boenning Scattergood reaffirmed a “hold” rating on shares of Washington Prime Group in a research report on Friday, July 28th. TheStreet raised Washington Prime Group from a “d+” rating to a “c” rating in a research report on Wednesday, July 26th. Finally, ValuEngine cut Washington Prime Group from a “buy” rating to a “hold” rating in a research report on Tuesday, June 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price 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.

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

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