Optimum Investment Advisors Takes $122,000 Position in Washington Prime Group Inc. (WPG)
Optimum Investment Advisors bought a new stake in shares of Washington Prime Group Inc. (NYSE:WPG) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 14,598 shares of the real estate investment trust’s stock, valued at approximately $122,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in WPG. BlackRock Inc. lifted its holdings in shares of Washington Prime Group by 6,927.1% during the first quarter. BlackRock Inc. now owns 24,434,249 shares of the real estate investment trust’s stock valued at $212,335,000 after purchasing an additional 24,086,536 shares during the last quarter. APG Asset Management US Inc. acquired a new position in shares of Washington Prime Group in the 2nd quarter valued at $40,827,000. Bank of New York Mellon Corp increased its stake in Washington Prime Group by 42.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,413,013 shares of the real estate investment trust’s stock worth $53,677,000 after purchasing an additional 1,907,079 shares in the last quarter. FMR LLC increased its stake in Washington Prime Group by 51.3% in the 2nd quarter. FMR LLC now owns 5,470,935 shares of the real estate investment trust’s stock worth $45,792,000 after purchasing an additional 1,854,721 shares in the last quarter. Finally, Carleon Capital Partners LLC purchased a new position in Washington Prime Group in the 2nd quarter worth about $7,321,000. 92.00% of the stock is owned by institutional investors and hedge funds.
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Washington Prime Group Inc. (NYSE WPG) traded down 0.36% during trading on Wednesday, reaching $8.31. 335,306 shares of the company were exchanged. The firm has a 50-day moving average of $8.41 and a 200-day moving average of $8.47. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 29.06 and a beta of 0.95. Washington Prime Group Inc. has a 52-week low of $7.31 and a 52-week high of $12.18.
Washington Prime Group (NYSE:WPG) last posted its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.06. The company had revenue of $189.17 million during the quarter, compared to analyst estimates 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 for the quarter was down 8.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.45 EPS. On average, equities analysts forecast that Washington Prime Group Inc. will post $0.94 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were given a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.99%. Washington Prime Group’s dividend payout ratio is 108.70%.
Several research firms have issued reports on WPG. ValuEngine upgraded Washington Prime Group from a “hold” rating to a “buy” rating in a report on Monday. BidaskClub raised shares of Washington Prime Group from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. TheStreet upgraded shares of Washington Prime Group from a “d+” rating to a “c” rating in a report on Wednesday, July 26th. Boenning Scattergood reiterated a “hold” rating on shares of Washington Prime Group in a report on Friday, July 28th. Finally, Zacks Investment Research cut shares of Washington Prime Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the stock. Washington Prime Group has a consensus 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.
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