Washington Prime Group Inc. (WPG) Shares Bought by First Trust Advisors LP

First Trust Advisors LP raised its stake in Washington Prime Group Inc. (NYSE:WPG) by 277.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 232,646 shares of the real estate investment trust’s stock after buying an additional 170,981 shares during the period. First Trust Advisors LP owned about 0.13% of Washington Prime Group worth $1,947,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of WPG. BlackRock Inc. increased its holdings in shares of Washington Prime Group by 6,927.1% in the 1st quarter. BlackRock Inc. now owns 24,434,249 shares of the real estate investment trust’s stock worth $212,335,000 after buying an additional 24,086,536 shares during the last quarter. APG Asset Management US Inc. bought a new position in shares of Washington Prime Group in the 2nd quarter worth $40,827,000. Carleon Capital Partners LLC bought a new position in shares of Washington Prime Group in the 2nd quarter worth $7,321,000. KRV Capital LP increased its holdings in shares of Washington Prime Group by 506.7% in the 1st quarter. KRV Capital LP now owns 1,820,159 shares of the real estate investment trust’s stock worth $15,817,000 after buying an additional 1,520,159 shares during the last quarter. Finally, ClariVest Asset Management LLC bought a new position in shares of Washington Prime Group in the 1st quarter worth $11,274,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have recently commented on the stock. ValuEngine lowered shares of Washington Prime Group from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Boenning Scattergood lowered shares of Washington Prime Group from a “neutral” rating to an “under perform” rating in a report on Wednesday, August 23rd. BidaskClub lowered shares of Washington Prime Group from a “buy” rating to a “hold” rating in a report on Friday, August 18th. Zacks Investment Research lowered shares of Washington Prime Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Finally, TheStreet raised shares of Washington Prime Group from a “d+” rating to a “c” rating in a report on Wednesday, July 26th. Two analysts have rated the stock with a sell rating and two have given a hold rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $9.25.

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Washington Prime Group Inc. (NYSE:WPG) opened at 8.42 on Tuesday. The company’s 50 day moving average is $8.72 and its 200 day moving average is $8.52. Washington Prime Group Inc. has a 12-month low of $7.31 and a 12-month high of $12.78. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 9.15 and a beta of 0.95.

Washington Prime Group (NYSE:WPG) last announced its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.72 earnings per share for the quarter, topping 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 company had revenue of $189.17 million for the quarter, compared to analysts’ expectations of $197.69 million. During the same quarter in the previous year, the business posted $0.45 earnings per share. Washington Prime Group’s quarterly revenue was down 8.1% on a year-over-year basis. Analysts forecast that Washington Prime Group Inc. will post $0.94 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 11.88%. The ex-dividend date of this dividend is Wednesday, August 30th. Washington Prime Group’s dividend payout ratio (DPR) is 108.70%.

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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Institutional Ownership by Quarter for Washington Prime Group (NYSE:WPG)

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