State of Alaska Department of Revenue decreased its stake in Washington Prime Group Inc. (NYSE:WPG) by 2.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 98,159 shares of the real estate investment trust’s stock after selling 1,970 shares during the period. State of Alaska Department of Revenue’s holdings in Washington Prime Group were worth $820,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Washington Prime Group by 6,927.1% in the first quarter. BlackRock Inc. now owns 24,434,249 shares of the real estate investment trust’s stock valued at $212,335,000 after buying an additional 24,086,536 shares in the last quarter. Forward Management LLC purchased a new stake in shares of Washington Prime Group during the first quarter valued at approximately $24,867,000. Norges Bank purchased a new stake in shares of Washington Prime Group during the fourth quarter valued at approximately $19,388,000. KRV Capital LP raised its stake in shares of Washington Prime Group by 506.7% in the first quarter. KRV Capital LP now owns 1,820,159 shares of the real estate investment trust’s stock valued at $15,817,000 after buying an additional 1,520,159 shares in the last quarter. Finally, ClariVest Asset Management LLC purchased a new stake in shares of Washington Prime Group during the first quarter valued at approximately $11,274,000. Institutional investors own 89.93% of the company’s stock.
Shares of Washington Prime Group Inc. (NYSE WPG) opened at 8.89 on Wednesday. The firm’s 50-day moving average price is $8.21 and its 200 day moving average price is $8.81. Washington Prime Group Inc. has a 52 week low of $7.31 and a 52 week high of $14.15. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 30.66 and a beta of 0.92.
Washington Prime Group (NYSE:WPG) last announced its quarterly earnings data on Wednesday, April 26th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.02. Washington Prime Group had a return on equity of 6.36% and a net margin of 8.13%. The business had revenue of $202.39 million during the quarter, compared to analyst estimates of $198.72 million. During the same period last year, the company earned $0.42 earnings per share. Washington Prime Group’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, analysts anticipate that Washington Prime Group Inc. will post $1.05 EPS for the current year.
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Several equities research analysts have commented on WPG shares. Zacks Investment Research upgraded Washington Prime Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 3rd. ValuEngine lowered Washington Prime Group from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. Finally, BidaskClub upgraded Washington Prime Group from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th.
In other news, CEO Louis G. Conforti acquired 12,125 shares of the business’s stock in a transaction that occurred on Friday, May 5th. The stock was acquired at an average cost of $8.25 per share, for a total transaction of $100,031.25. Following the completion of the acquisition, the chief executive officer now owns 40,825 shares in the company, valued at $336,806.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by company insiders.
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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