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

Real Estate Management Services LLC increased its stake in Washington Prime Group Inc. (NYSE:WPG) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 accounts for 5.6% of Real Estate Management Services LLC’s investment portfolio, making the stock its 5th largest position. Real Estate Management Services LLC owned 1.84% of Washington Prime Group worth $28,497,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of WPG. Teza Capital Management LLC purchased a new position in shares of Washington Prime Group during the first quarter valued at about $103,000. Creative Planning boosted 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 during the last quarter. Wedbush Securities Inc. bought a new position in shares of Washington Prime Group during the first quarter worth about $108,000. Zurcher Kantonalbank Zurich Cantonalbank boosted 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 during the last quarter. Finally, Spectrum Management Group Inc. bought a new position in shares of Washington Prime Group during the first quarter worth about $114,000. Hedge funds and other institutional investors own 92.46% of the company’s stock.

Shares of Washington Prime Group Inc. (NYSE WPG) opened at 9.28 on Tuesday. The company has a market cap of $1.72 billion, a PE ratio of 10.09 and a beta of 0.95. Washington Prime Group Inc. has a 12 month low of $7.31 and a 12 month high of $14.15. The firm’s 50 day moving average is $8.57 and its 200 day moving average is $8.72.

Washington Prime Group (NYSE:WPG) last issued its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.06. Washington Prime Group had a net margin of 22.65% and a return on equity of 17.36%. The business had revenue of $189.17 million for the quarter, compared to the consensus estimate of $197.69 million. During the same quarter in the previous year, the firm earned $0.45 earnings per share. The company’s revenue for the quarter was down 8.1% on a year-over-year basis. On average, equities analysts predict that Washington Prime Group Inc. will post $1.05 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 10.78%. The ex-dividend date is Wednesday, August 30th. Washington Prime Group’s dividend payout ratio (DPR) is presently 108.70%.

A number of equities analysts recently issued reports on WPG shares. TheStreet raised Washington Prime Group from a “d+” rating to a “c” rating in a research report on Wednesday, July 26th. BidaskClub upgraded Washington Prime Group from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. Zacks Investment Research lowered Washington Prime Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 17th. ValuEngine lowered Washington Prime Group from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Washington Prime Group in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Washington Prime Group presently has a consensus rating of “Hold” and a consensus price target of $9.25.

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.