Zacks: Analysts Set $7.75 Price Target for Washington Prime Group Inc. (WPG)

Shares of Washington Prime Group Inc. (NYSE:WPG) have been given an average broker rating score of 4.00 (Sell) from the two brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong sell recommendation and one has given a hold recommendation to the company.

Brokers have set a twelve-month consensus target price of $7.75 for the company and are expecting that the company will post $0.44 EPS for the current quarter, according to Zacks. Zacks has also given Washington Prime Group an industry rank of 219 out of 265 based on the ratings given to its competitors.

Several equities analysts have recently issued reports on WPG shares. BidaskClub downgraded shares of Washington Prime Group from a “buy” rating to a “hold” rating in a report on Friday, August 18th. Boenning Scattergood downgraded shares of Washington Prime Group from a “neutral” rating to an “under perform” rating in a report on Wednesday, August 23rd. ValuEngine downgraded shares of Washington Prime Group from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Zacks Investment Research upgraded shares of Washington Prime Group from a “sell” rating to a “hold” rating in a report on Thursday, October 12th.

Several institutional investors and hedge funds have recently bought and sold shares of WPG. Public Employees Retirement System of Ohio increased its holdings in Washington Prime Group by 26.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 287,344 shares of the real estate investment trust’s stock worth $2,394,000 after buying an additional 59,749 shares during the period. GSA Capital Partners LLP acquired a new position in Washington Prime Group in the 3rd quarter worth approximately $1,190,000. Eii Capital Management Inc. acquired a new position in Washington Prime Group in the 3rd quarter worth approximately $390,000. California Public Employees Retirement System increased its holdings in Washington Prime Group by 13.5% in the 3rd quarter. California Public Employees Retirement System now owns 671,681 shares of the real estate investment trust’s stock worth $5,595,000 after buying an additional 80,146 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new position in Washington Prime Group in the 3rd quarter worth approximately $644,000. Hedge funds and other institutional investors own 89.86% of the company’s stock.

Shares of Washington Prime Group (NYSE WPG) opened at $7.01 on Monday. The company has a market cap of $1,300.00, a PE ratio of 4.20 and a beta of 0.89. Washington Prime Group has a 1 year low of $6.62 and a 1 year high of $10.97. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.34.

Washington Prime Group (NYSE:WPG) last posted its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.03). Washington Prime Group had a net margin of 21.85% and a return on equity of 16.17%. The company had revenue of $179.32 million for the quarter, compared to analyst estimates of $188.54 million. During the same quarter last year, the company earned $0.46 EPS. The business’s revenue was down 14.6% compared to the same quarter last year. equities research analysts predict that Washington Prime Group will post 1.63 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.00 annualized dividend and a dividend yield of 14.27%. Washington Prime Group’s dividend payout ratio (DPR) is currently 138.89%.

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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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