Jennison Associates LLC Has $1.15 Million Stake in Washington Prime Group Inc (NYSE:WPG)

Jennison Associates LLC raised its holdings in shares of Washington Prime Group Inc (NYSE:WPG) by 15.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 203,081 shares of the real estate investment trust’s stock after acquiring an additional 27,585 shares during the quarter. Jennison Associates LLC’s holdings in Washington Prime Group were worth $1,147,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in shares of Washington Prime Group by 1.3% in the third quarter. JPMorgan Chase & Co. now owns 2,103,033 shares of the real estate investment trust’s stock worth $15,351,000 after purchasing an additional 27,681 shares during the last quarter. Arizona State Retirement System boosted its holdings in Washington Prime Group by 6.2% in the fourth quarter. Arizona State Retirement System now owns 286,552 shares of the real estate investment trust’s stock valued at $1,393,000 after acquiring an additional 16,662 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in Washington Prime Group by 2.4% in the fourth quarter. Advisors Asset Management Inc. now owns 3,102,466 shares of the real estate investment trust’s stock valued at $15,078,000 after acquiring an additional 73,150 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in Washington Prime Group by 17.8% in the fourth quarter. Crossmark Global Holdings Inc. now owns 38,822 shares of the real estate investment trust’s stock valued at $189,000 after acquiring an additional 5,880 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in Washington Prime Group by 18.3% in the fourth quarter. Rhumbline Advisers now owns 586,014 shares of the real estate investment trust’s stock valued at $2,848,000 after acquiring an additional 90,772 shares in the last quarter. 84.62% of the stock is owned by institutional investors and hedge funds.

In related news, CEO Louis G. Conforti purchased 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were acquired at an average price of $4.55 per share, for a total transaction of $102,375.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.72% of the company’s stock.

WPG has been the topic of several recent analyst reports. TheStreet upgraded shares of Washington Prime Group from a “d+” rating to a “c” rating in a report on Thursday, March 7th. Zacks Investment Research upgraded shares of Washington Prime Group from a “sell” rating to a “hold” rating in a report on Wednesday, March 13th. Finally, ValuEngine upgraded shares of Washington Prime Group from a “sell” rating to a “hold” rating in a report on Thursday, April 18th. Three equities research analysts have rated the stock with a sell rating and one has issued a hold rating to the company’s stock. Washington Prime Group currently has a consensus rating of “Sell” and a consensus target price of $4.75.

NYSE:WPG traded up $0.01 during trading hours on Wednesday, hitting $4.17. The company had a trading volume of 5,810 shares, compared to its average volume of 2,618,704. The stock has a market cap of $775.82 million, a P/E ratio of 2.77 and a beta of 0.94. Washington Prime Group Inc has a 52 week low of $3.80 and a 52 week high of $8.44. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 3.40.

Washington Prime Group (NYSE:WPG) last released its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.32). The company had revenue of $168.82 million during the quarter, compared to the consensus estimate of $169.27 million. Washington Prime Group had a net margin of 9.96% and a return on equity of 7.53%. The business’s revenue was down 4.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 EPS. On average, analysts expect that Washington Prime Group Inc will post 1.2 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 23.98%. The ex-dividend date is Friday, May 31st. Washington Prime Group’s dividend payout ratio (DPR) is currently 66.23%.

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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 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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