Washington Prime Group Inc. (NYSE:WPG) was the target of a large drop in short interest in the month of September. As of September 15th, there was short interest totalling 17,005,166 shares, a drop of 17.6% from the August 31st total of 20,638,006 shares. Based on an average daily volume of 2,178,259 shares, the short-interest ratio is currently 7.8 days. Approximately 9.2% of the company’s stock are short sold.

Institutional investors and hedge funds have recently modified their holdings of the company. Chilton Capital Management LLC acquired a new stake in shares of Washington Prime Group during the second quarter worth about $101,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Washington Prime Group by 9.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,580 shares of the real estate investment trust’s stock worth $109,000 after purchasing an additional 1,137 shares in the last quarter. Creative Planning lifted its position in shares of Washington Prime Group by 26.9% during the second quarter. Creative Planning now owns 12,772 shares of the real estate investment trust’s stock worth $107,000 after purchasing an additional 2,710 shares in the last quarter. Shelton Capital Management acquired a new stake in shares of Washington Prime Group during the second quarter worth about $111,000. Finally, Timber Hill LLC acquired a new stake in shares of Washington Prime Group during the second quarter worth about $113,000. 92.00% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have commented on the stock. ValuEngine raised shares of Washington Prime Group from a “hold” rating to a “buy” rating in a research report on Monday. Boenning Scattergood downgraded shares of Washington Prime Group from a “neutral” rating to an “under perform” rating in a research report on Wednesday, August 23rd. BidaskClub downgraded shares of Washington Prime Group from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Zacks Investment Research downgraded 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 report on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold”.

Washington Prime Group (WPG) opened at 8.30 on Thursday. The firm’s 50-day moving average is $8.40 and its 200-day moving average is $8.47. The stock has a market cap of $1.54 billion, a P/E ratio of 29.02 and a beta of 0.95. Washington Prime Group has a 52-week low of $7.31 and a 52-week high of $12.18.

Washington Prime Group (NYSE:WPG) last issued its quarterly 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 business had revenue of $189.17 million for the quarter, compared to analysts’ expectations of $197.69 million. Washington Prime Group had a net margin of 22.65% and a return on equity of 17.36%. The business’s quarterly revenue was down 8.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.45 earnings per share. Equities research analysts predict that Washington Prime Group will post $0.94 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $1.00 annualized dividend and a dividend yield of 12.05%. Washington Prime Group’s dividend payout ratio is presently 108.70%.

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Washington Prime Group Company Profile

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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