Washington Prime Group Inc. to Post FY2021 Earnings of $4.19 Per Share, Truist Securiti Forecasts (NYSE:WPG)


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Washington Prime Group Inc. (NYSE:WPG) – Truist Securiti upped their FY2021 earnings per share (EPS) estimates for shares of Washington Prime Group in a report released on Monday, April 5th. Truist Securiti analyst K. Kim now anticipates that the real estate investment trust will post earnings per share of $4.19 for the year, up from their previous forecast of $2.86. Truist Securiti also issued estimates for Washington Prime Group’s FY2022 earnings at $3.78 EPS and FY2023 earnings at $3.17 EPS.

Several other equities research analysts have also weighed in on WPG. Truist Securities upgraded shares of Washington Prime Group to a “hold” rating in a research note on Monday. Truist upgraded Washington Prime Group from a “sell” rating to a “hold” rating in a research report on Monday. Finally, Zacks Investment Research downgraded Washington Prime Group from a “hold” rating to a “sell” rating in a report on Thursday, February 18th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. Washington Prime Group has a consensus rating of “Hold” and an average target price of $8.25.

Washington Prime Group stock opened at $2.31 on Wednesday. Washington Prime Group has a 1 year low of $1.69 and a 1 year high of $17.55. The firm’s 50-day moving average is $3.86 and its 200-day moving average is $6.98. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $56.15 million, a P/E ratio of -6.79 and a beta of 1.36.

Washington Prime Group (NYSE:WPG) last released its quarterly earnings data on Monday, March 15th. The real estate investment trust reported ($5.24) EPS for the quarter, missing analysts’ consensus estimates of ($2.07) by ($3.17). Washington Prime Group had a negative return on equity of 7.77% and a negative net margin of 8.92%.

Large investors have recently made changes to their positions in the business. Ground Swell Capital LLC bought a new stake in shares of Washington Prime Group during the fourth quarter valued at approximately $68,000. State of Tennessee Treasury Department grew its holdings in Washington Prime Group by 17.9% in the 3rd quarter. State of Tennessee Treasury Department now owns 131,181 shares of the real estate investment trust’s stock worth $84,000 after buying an additional 19,939 shares in the last quarter. Virtu Financial LLC acquired a new stake in Washington Prime Group in the 3rd quarter valued at approximately $89,000. UBS Asset Management Americas Inc. increased its position in Washington Prime Group by 757.9% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 295,439 shares of the real estate investment trust’s stock valued at $191,000 after acquiring an additional 261,000 shares during the period. Finally, Public Employees Retirement System of Ohio raised its stake in Washington Prime Group by 14.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 329,436 shares of the real estate investment trust’s stock valued at $213,000 after acquiring an additional 42,626 shares in the last quarter. Institutional investors own 58.87% of the company’s stock.

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 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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Earnings History and Estimates for Washington Prime Group (NYSE:WPG)

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