Zacks: Analysts Set $7.75 Target Price for Washington Prime Group Inc (WPG)

Washington Prime Group Inc (NYSE:WPG) has received an average broker rating score of 4.00 (Sell) from the two brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong sell rating and one has given a hold rating to the company.

Analysts have set a one year consensus target price of $7.75 for the company and are anticipating that the company will post $0.43 EPS for the current quarter, according to Zacks. Zacks has also given Washington Prime Group an industry rank of 241 out of 265 based on the ratings given to related companies.

A number of equities analysts have commented on the stock. Zacks Investment Research upgraded shares of Washington Prime Group from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. ValuEngine upgraded shares of Washington Prime Group from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Boenning Scattergood reiterated a “sell” rating on shares of Washington Prime Group in a report on Friday, October 27th.

Institutional investors have recently modified their holdings of the company. Chilton Capital Management LLC acquired a new stake in shares of Washington Prime Group in the 2nd quarter valued at about $101,000. Jane Street Group LLC bought a new stake in shares of Washington Prime Group during the 3rd quarter valued at about $104,000. Shelton Capital Management bought a new stake in shares of Washington Prime Group during the 2nd quarter valued at about $111,000. Riverhead Capital Management LLC grew its position in shares of Washington Prime Group by 71.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 13,885 shares of the real estate investment trust’s stock valued at $116,000 after buying an additional 5,785 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Washington Prime Group by 13.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,322 shares of the real estate investment trust’s stock valued at $120,000 after buying an additional 1,742 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

Shares of Washington Prime Group (NYSE:WPG) opened at $6.76 on Wednesday. Washington Prime Group has a 12 month low of $6.62 and a 12 month high of $10.60. The stock has a market cap of $1,260.00, a price-to-earnings ratio of 9.39 and a beta of 0.89. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.34.

Washington Prime Group (NYSE:WPG) last posted its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.03). The business had revenue of $179.32 million for the quarter, compared to analyst estimates of $188.54 million. Washington Prime Group had a net margin of 21.85% and a return on equity of 16.17%. The business’s revenue was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.46 EPS. sell-side analysts predict that Washington Prime Group will post 1.63 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were paid a $0.25 dividend. The ex-dividend date was Thursday, November 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.79%. Washington Prime Group’s dividend payout ratio (DPR) is presently 138.89%.

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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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