Washington Prime Group Inc. (NYSE:WPG) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Monday.

Several other equities research analysts have also recently issued reports on the stock. Boenning Scattergood cut shares of Washington Prime Group from a “neutral” rating to an “under perform” rating in a research report on Wednesday, August 23rd. BidaskClub lowered shares of Washington Prime Group from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Zacks Investment Research lowered shares of Washington Prime Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Finally, TheStreet raised shares of Washington Prime Group from a “d+” rating to a “c” rating in a research note on Wednesday, July 26th. Two 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 stock. The company presently has an average rating of “Hold” and a consensus target price of $9.25.

Washington Prime Group (NYSE WPG) traded up 0.24% during mid-day trading on Monday, reaching $8.35. The company’s stock had a trading volume of 1,450,324 shares. Washington Prime Group has a one year low of $7.31 and a one year high of $12.20. The stock has a market cap of $1.55 billion, a P/E ratio of 29.20 and a beta of 0.95. The firm’s 50 day moving average is $8.42 and its 200-day moving average is $8.47.

Washington Prime Group (NYSE:WPG) last posted its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.06. Washington Prime Group had a net margin of 22.65% and a return on equity of 17.36%. The company had revenue of $189.17 million for the quarter, compared to the consensus estimate of $197.69 million. During the same quarter last year, the firm posted $0.45 EPS. The firm’s revenue was down 8.1% compared to the same quarter last year. Equities analysts expect that Washington Prime Group will post $0.94 earnings per share for the current fiscal year.

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Several institutional investors and hedge funds have recently bought and sold shares of WPG. GAM Holding AG increased its stake in shares of Washington Prime Group by 0.7% during the second quarter. GAM Holding AG now owns 15,305 shares of the real estate investment trust’s stock valued at $128,000 after buying an additional 100 shares during the period. Amalgamated Bank raised its holdings in shares of Washington Prime Group by 2.0% in the second quarter. Amalgamated Bank now owns 26,509 shares of the real estate investment trust’s stock valued at $222,000 after acquiring an additional 524 shares in the last quarter. Comerica Bank raised its holdings in shares of Washington Prime Group by 0.6% in the second quarter. Comerica Bank now owns 143,362 shares of the real estate investment trust’s stock valued at $1,300,000 after acquiring an additional 786 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Washington Prime Group by 1.3% in the second quarter. Arizona State Retirement System now owns 78,100 shares of the real estate investment trust’s stock valued at $654,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Mason Street Advisors LLC raised its holdings in shares of Washington Prime Group by 1.2% in the first quarter. Mason Street Advisors LLC now owns 87,557 shares of the real estate investment trust’s stock valued at $761,000 after acquiring an additional 1,014 shares in the last quarter. 92.00% of the stock is currently owned by institutional investors and hedge funds.

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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