Russell Investments Group Ltd. reduced its stake in Washington Prime Group Inc (NYSE:WPG) by 16.9% during the first quarter, Holdings Channel reports. The institutional investor owned 225,182 shares of the real estate investment trust’s stock after selling 45,829 shares during the period. Russell Investments Group Ltd. owned 0.12% of Washington Prime Group worth $1,956,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in WPG. ProShare Advisors LLC boosted its stake in shares of Washington Prime Group by 15.1% in the first quarter. ProShare Advisors LLC now owns 111,901 shares of the real estate investment trust’s stock valued at $765,000 after buying an additional 14,662 shares in the last quarter. Comerica Bank boosted its stake in shares of Washington Prime Group by 6.1% in the fourth quarter. Comerica Bank now owns 136,372 shares of the real estate investment trust’s stock valued at $1,372,000 after buying an additional 7,884 shares in the last quarter. Federated Investors Inc. PA boosted its stake in shares of Washington Prime Group by 4.8% in the fourth quarter. Federated Investors Inc. PA now owns 144,579 shares of the real estate investment trust’s stock valued at $1,505,000 after buying an additional 6,584 shares in the last quarter. Brookfield Asset Management Inc. boosted its stake in shares of Washington Prime Group by 24.5% in the fourth quarter. Brookfield Asset Management Inc. now owns 4,745,048 shares of the real estate investment trust’s stock valued at $49,396,000 after buying an additional 932,520 shares in the last quarter. Finally, Dalton Greiner Hartman Maher & Co. acquired a new stake in shares of Washington Prime Group during the first quarter valued at $904,000. Institutional investors own 89.84% of the company’s stock.
Washington Prime Group Inc (WPG) opened at 8.14 on Friday. Washington Prime Group Inc has a 1-year low of $7.31 and a 1-year high of $14.15. The firm’s 50-day moving average is $8.09 and its 200 day moving average is $9.11. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 28.07 and a beta of 0.93.
Washington Prime Group (NYSE:WPG) last issued its earnings results on Wednesday, April 26th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. Washington Prime Group had a return on equity of 4.27% and a net margin of 7.23%. The business had revenue of $202.39 million during the quarter, compared to the consensus estimate of $198.72 million. During the same period last year, the company earned $0.42 EPS. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities analysts anticipate that Washington Prime Group Inc will post $1.05 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.29%. The ex-dividend date was Tuesday, May 30th. Washington Prime Group’s dividend payout ratio (DPR) is presently 500.00%.
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Several research analysts have commented on the stock. Zacks Investment Research lowered shares of Washington Prime Group from a “hold” rating to a “sell” rating in a research note on Tuesday, February 28th. ValuEngine lowered shares of Washington Prime Group from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th.
In related news, insider Keric M. Knerr bought 6,119 shares of the business’s stock in a transaction on Tuesday, March 28th. The stock was acquired at an average cost of $8.17 per share, with a total value of $49,992.23. Following the purchase, the insider now directly owns 12,942 shares of the company’s stock, valued at $105,736.14. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Robert P. Demchak bought 6,140 shares of the business’s stock in a transaction on Monday, March 27th. The stock was bought at an average cost of $8.15 per share, with a total value of $50,041.00. Following the completion of the purchase, the executive vice president now directly owns 7,205 shares in the company, valued at $58,720.75. The disclosure for this purchase can be found here. Insiders acquired a total of 53,084 shares of company stock valued at $449,180 over the last ninety days. Corporate insiders own 0.28% of the company’s stock.
About Washington Prime Group
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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