American International Group Inc. trimmed its position in Washington Prime Group Inc (NYSE:WPG) by 2.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 141,158 shares of the real estate investment trust’s stock after selling 3,843 shares during the period. American International Group Inc. owned about 0.08% of Washington Prime Group worth $798,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of WPG. BlackRock Inc. increased its holdings in Washington Prime Group by 1.3% in the 4th quarter. BlackRock Inc. now owns 32,138,710 shares of the real estate investment trust’s stock valued at $156,196,000 after purchasing an additional 416,417 shares during the last quarter. Private Management Group Inc. grew its stake in shares of Washington Prime Group by 1.4% during the fourth quarter. Private Management Group Inc. now owns 5,124,355 shares of the real estate investment trust’s stock worth $24,904,000 after purchasing an additional 71,384 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Washington Prime Group by 2.4% during the fourth quarter. Advisors Asset Management Inc. now owns 3,102,466 shares of the real estate investment trust’s stock worth $15,078,000 after purchasing an additional 73,150 shares in the last quarter. Geode Capital Management LLC lifted its position in Washington Prime Group by 9.6% in the fourth quarter. Geode Capital Management LLC now owns 2,539,009 shares of the real estate investment trust’s stock valued at $12,339,000 after acquiring an additional 223,374 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in 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 valued at $15,351,000 after acquiring an additional 27,681 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.
A number of equities research analysts have recently commented on WPG shares. Zacks Investment Research raised shares of Washington Prime Group from a “sell” rating to a “hold” rating in a report on Wednesday, March 13th. ValuEngine cut shares of Washington Prime Group from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 1st. Finally, TheStreet raised shares of Washington Prime Group from a “d+” rating to a “c” rating in a report on Thursday, March 7th. Three equities research analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. The company has an average rating of “Sell” and an average target price of $4.75.
Washington Prime Group (NYSE:WPG) last posted its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.32). Washington Prime Group had a return on equity of 7.53% and a net margin of 9.96%. The firm had revenue of $168.82 million for the quarter, compared to analysts’ expectations of $169.27 million. During the same period in the prior year, the company earned $0.39 earnings per share. The company’s revenue for the quarter was down 4.6% on a year-over-year basis. On average, sell-side analysts forecast that Washington Prime Group Inc will post 1.21 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a $0.25 dividend. The ex-dividend date was Friday, May 31st. This represents a $1.00 annualized dividend and a dividend yield of 26.74%. Washington Prime Group’s dividend payout ratio is presently 66.23%.
In other Washington Prime Group news, CEO Louis G. Conforti bought 22,500 shares of Washington Prime Group stock in a transaction on Wednesday, May 1st. The stock was purchased at an average cost of $4.55 per share, for a total transaction of $102,375.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Louis G. Conforti bought 28,250 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The shares were bought at an average price of $3.48 per share, with a total value of $98,310.00. Following the completion of the purchase, the chief executive officer now owns 349,438 shares in the company, valued at $1,216,044.24. The disclosure for this purchase can be found here. Insiders bought 79,050 shares of company stock worth $300,584 over the last quarter. Company insiders own 0.72% of the company’s stock.
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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