Washington Prime Group Inc. (WPG) is Real Estate Management Services LLC’s 5th Largest Position

Real Estate Management Services LLC increased its position in shares of Washington Prime Group Inc. (NYSE:WPG) by 0.4% during the second quarter, Holdings Channel reports. The firm owned 3,404,600 shares of the real estate investment trust’s stock after buying an additional 13,700 shares during the period. Washington Prime Group comprises approximately 5.6% of Real Estate Management Services LLC’s investment portfolio, making the stock its 5th largest position. Real Estate Management Services LLC’s holdings in Washington Prime Group were worth $28,497,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. State Treasurer State of Michigan increased its stake in shares of Washington Prime Group by 1.5% in the second quarter. State Treasurer State of Michigan now owns 76,421 shares of the real estate investment trust’s stock worth $640,000 after buying an additional 1,100 shares during the period. Aperio Group LLC increased its stake in shares of Washington Prime Group by 6.6% in the second quarter. Aperio Group LLC now owns 119,183 shares of the real estate investment trust’s stock worth $998,000 after buying an additional 7,395 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Washington Prime Group by 3.2% in the second quarter. Louisiana State Employees Retirement System now owns 48,300 shares of the real estate investment trust’s stock worth $404,000 after buying an additional 1,500 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Washington Prime Group by 3.7% in the second quarter. Nisa Investment Advisors LLC now owns 166,326 shares of the real estate investment trust’s stock worth $1,395,000 after buying an additional 5,900 shares during the period. Finally, LS Investment Advisors LLC increased its stake in shares of Washington Prime Group by 16.2% in the second quarter. LS Investment Advisors LLC now owns 15,833 shares of the real estate investment trust’s stock worth $133,000 after buying an additional 2,207 shares during the period. 89.93% of the stock is owned by hedge funds and other institutional investors.

Shares of Washington Prime Group Inc. (WPG) traded down 1.53% during mid-day trading on Friday, reaching $9.02. 807,503 shares of the company’s stock were exchanged. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 31.10 and a beta of 0.92. Washington Prime Group Inc. has a 52-week low of $7.31 and a 52-week high of $14.15. The stock’s 50-day moving average is $8.30 and its 200-day moving average is $8.81.

Washington Prime Group (NYSE:WPG) last released its quarterly earnings data on Wednesday, April 26th. The real estate investment trust reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02. Washington Prime Group had a net margin of 8.13% and a return on equity of 6.36%. The firm had revenue of $202.39 million for the quarter, compared to the consensus estimate of $198.72 million. During the same period in the previous year, the company earned $0.42 earnings per share. The company’s quarterly revenue was down 3.6% on a year-over-year basis. On average, equities analysts expect that Washington Prime Group Inc. will post $1.05 EPS for the current year.

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A number of analysts have weighed in on the stock. BidaskClub raised shares of Washington Prime Group from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. ValuEngine downgraded shares of Washington Prime Group from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. Finally, Zacks Investment Research downgraded shares of Washington Prime Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 17th.

In related news, CEO Louis G. Conforti acquired 12,125 shares of the firm’s stock in a transaction on Friday, May 5th. The shares were purchased 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 directly owns 40,825 shares in the company, valued at $336,806.25. The purchase was disclosed in a filing with the SEC, which is available at this link. 0.28% of the stock is owned by 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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