State of Alaska Department of Revenue cut its position in shares of Washington Prime Group Inc. (NYSE:WPG) by 2.0% during the second quarter, according to its most recent Form 13F filing 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 owned about 0.05% of Washington Prime Group worth $820,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Teza Capital Management LLC bought a new stake in Washington Prime Group during the first quarter worth $103,000. Creative Planning increased its position in shares of Washington Prime Group by 26.9% in the second quarter. Creative Planning now owns 12,772 shares of the real estate investment trust’s stock worth $107,000 after buying an additional 2,710 shares in the last quarter. Wedbush Securities Inc. acquired a new position in shares of Washington Prime Group during the first quarter worth about $108,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Washington Prime Group by 9.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,580 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 1,137 shares in the last quarter. Finally, Spectrum Management Group Inc. acquired a new position in shares of Washington Prime Group during the first quarter worth about $114,000. 89.94% of the stock is owned by institutional investors.
Washington Prime Group Inc. (NYSE WPG) opened at 9.06 on Friday. The company’s 50-day moving average price is $8.52 and its 200-day moving average price is $8.76. Washington Prime Group Inc. has a one year low of $7.31 and a one year high of $14.15. The stock has a market cap of $1.68 billion, a P/E ratio of 31.24 and a beta of 0.92.
Washington Prime Group (NYSE:WPG) last posted its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.06. The company had revenue of $189.17 million during the quarter, compared to the consensus estimate of $197.69 million. Washington Prime Group had a net margin of 22.65% and a return on equity of 17.36%. The firm’s quarterly revenue was down 8.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 earnings per share. Analysts forecast that Washington Prime Group Inc. will post $1.05 EPS for the current fiscal year.
WPG has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Washington Prime Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 3rd. ValuEngine downgraded Washington Prime Group from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. BidaskClub upgraded Washington Prime Group from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. TheStreet upgraded Washington Prime Group from a “d+” rating to a “c” rating in a report on Wednesday. Finally, Boenning Scattergood restated a “hold” rating on shares of Washington Prime Group in a report on Friday. Four equities research analysts have rated the stock with a hold rating, Washington Prime Group currently has a consensus rating of “Hold” and an average price target of $9.25.
In other Washington Prime Group news, CEO Louis G. Conforti bought 12,125 shares of the firm’s stock in a transaction that occurred on Friday, May 5th. The stock was bought at an average cost of $8.25 per share, for a total transaction of $100,031.25. Following the completion of the transaction, the chief executive officer now directly owns 40,825 shares of the company’s stock, valued at approximately $336,806.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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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