Prudential Financial Inc. Trims Stake in Washington Prime Group Inc (WPG)

Prudential Financial Inc. trimmed its holdings in Washington Prime Group Inc (NYSE:WPG) by 1.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,076,856 shares of the real estate investment trust’s stock after selling 10,970 shares during the quarter. Prudential Financial Inc. owned 0.58% of Washington Prime Group worth $7,861,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. RMR Advisors LLC boosted its position in shares of Washington Prime Group by 10.0% in the third quarter. RMR Advisors LLC now owns 331,148 shares of the real estate investment trust’s stock valued at $2,417,000 after acquiring an additional 30,000 shares during the period. Morgan Stanley boosted its position in shares of Washington Prime Group by 0.7% in the second quarter. Morgan Stanley now owns 6,123,573 shares of the real estate investment trust’s stock valued at $49,663,000 after acquiring an additional 43,517 shares during the period. Arizona State Retirement System boosted its position in shares of Washington Prime Group by 115.3% in the second quarter. Arizona State Retirement System now owns 270,683 shares of the real estate investment trust’s stock valued at $2,195,000 after acquiring an additional 144,974 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Washington Prime Group by 156.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,032 shares of the real estate investment trust’s stock valued at $390,000 after acquiring an additional 29,316 shares during the period. Finally, Chicago Equity Partners LLC boosted its position in shares of Washington Prime Group by 763.4% in the second quarter. Chicago Equity Partners LLC now owns 658,725 shares of the real estate investment trust’s stock valued at $5,342,000 after acquiring an additional 582,430 shares during the period. 86.72% of the stock is owned by institutional investors.

In other news, CEO Louis G. Conforti bought 13,857 shares of Washington Prime Group stock in a transaction that occurred on Thursday, September 20th. The stock was purchased at an average cost of $7.22 per share, with a total value of $100,047.54. Following the completion of the transaction, the chief executive officer now directly owns 155,572 shares in the company, valued at $1,123,229.84. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Louis G. Conforti bought 16,286 shares of Washington Prime Group stock in a transaction that occurred on Thursday, November 15th. The stock was purchased at an average cost of $6.14 per share, with a total value of $99,996.04. Following the completion of the transaction, the chief executive officer now owns 171,858 shares of the company’s stock, valued at $1,055,208.12. The disclosure for this purchase can be found here. 0.41% of the stock is currently owned by corporate insiders.

WPG opened at $6.15 on Friday. Washington Prime Group Inc has a 1-year low of $5.40 and a 1-year high of $8.44. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market capitalization of $1.11 billion, a PE ratio of 3.81 and a beta of 0.75.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 30th. This represents a $1.00 annualized dividend and a dividend yield of 16.26%. Washington Prime Group’s dividend payout ratio is 61.35%.

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Washington Prime Group 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 an investment grade balance sheet, leveraging 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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Institutional Ownership by Quarter for Washington Prime Group (NYSE:WPG)

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