Russell Investments Group Ltd. Lowers Stake in Washington Prime Group Inc (WPG)

Russell Investments Group Ltd. lowered its stake in shares of Washington Prime Group Inc (NYSE:WPG) by 40.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 129,448 shares of the real estate investment trust’s stock after selling 88,091 shares during the quarter. Russell Investments Group Ltd. owned 0.07% of Washington Prime Group worth $1,078,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of WPG. Chilton Capital Management LLC purchased a new stake in shares of Washington Prime Group during the 2nd quarter valued at $101,000. Shelton Capital Management purchased a new stake in shares of Washington Prime Group during the 2nd quarter valued at $111,000. Timber Hill LLC purchased a new stake in shares of Washington Prime Group during the 2nd quarter valued at $113,000. Riverhead Capital Management LLC raised its position in shares of Washington Prime Group by 71.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 13,885 shares of the real estate investment trust’s stock valued at $116,000 after buying an additional 5,785 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Washington Prime Group by 13.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,322 shares of the real estate investment trust’s stock valued at $120,000 after purchasing an additional 1,742 shares during the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Washington Prime Group Inc (NYSE WPG) opened at $7.12 on Friday. 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 Inc has a twelve month low of $6.62 and a twelve month high of $10.97. The company has a market cap of $1,330.00, a price-to-earnings ratio of 9.89 and a beta of 0.89.

Washington Prime Group (NYSE:WPG) last released its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.37 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 business had revenue of $179.32 million for the quarter, compared to the consensus estimate of $188.54 million. During the same period in the prior year, the business posted $0.46 EPS. Washington Prime Group’s revenue for the quarter was down 14.6% on a year-over-year basis. research analysts forecast that Washington Prime Group Inc will post 1.63 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 14.04%. The ex-dividend date of this dividend was Thursday, November 30th. Washington Prime Group’s dividend payout ratio is currently 138.89%.

Several equities analysts recently commented on the stock. Zacks Investment Research raised shares of Washington Prime Group from a “sell” rating to a “hold” rating in a report on Thursday. ValuEngine raised shares of Washington Prime Group from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, Boenning Scattergood reaffirmed a “sell” rating on shares of Washington Prime Group in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold”.

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Washington Prime Group Company Profile

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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