Arrow Investment Advisors LLC lowered its holdings in Washington Prime Group Inc (NYSE:WPG) by 11.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 71,104 shares of the real estate investment trust’s stock after selling 9,362 shares during the period. Arrow Investment Advisors LLC’s holdings in Washington Prime Group were worth $577,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. MetLife Investment Advisors LLC increased its position in Washington Prime Group by 4.0% in the 1st quarter. MetLife Investment Advisors LLC now owns 201,398 shares of the real estate investment trust’s stock valued at $1,343,000 after acquiring an additional 7,768 shares during the period. ARP Americas LP increased its position in Washington Prime Group by 8.2% in the 1st quarter. ARP Americas LP now owns 114,100 shares of the real estate investment trust’s stock valued at $761,000 after acquiring an additional 8,600 shares during the period. Nomura Asset Management Co. Ltd. increased its position in Washington Prime Group by 8.4% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 117,100 shares of the real estate investment trust’s stock valued at $781,000 after acquiring an additional 9,100 shares during the period. Kempen Capital Management N.V. increased its position in Washington Prime Group by 2.4% in the 1st quarter. Kempen Capital Management N.V. now owns 433,766 shares of the real estate investment trust’s stock valued at $2,893,000 after acquiring an additional 9,984 shares during the period. Finally, Russell Investments Group Ltd. increased its position in Washington Prime Group by 19.3% in the 1st quarter. Russell Investments Group Ltd. now owns 68,749 shares of the real estate investment trust’s stock valued at $459,000 after acquiring an additional 11,108 shares during the period. 81.81% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently commented on WPG shares. ValuEngine upgraded Washington Prime Group from a “hold” rating to a “buy” rating in a research report on Tuesday, May 29th. TheStreet lowered Washington Prime Group from a “c” rating to a “d+” rating in a research note on Thursday, July 26th. Finally, Zacks Investment Research raised Washington Prime Group from a “sell” rating to a “hold” rating in a research note on Wednesday, June 6th. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. Washington Prime Group currently has an average rating of “Hold” and an average price target of $7.00.
Washington Prime Group (NYSE:WPG) last released its quarterly earnings data on Wednesday, July 25th. The real estate investment trust reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.32). The company had revenue of $178.73 million for the quarter, compared to the consensus estimate of $182.11 million. Washington Prime Group had a return on equity of 7.03% and a net margin of 10.05%. The business’s revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.50 earnings per share. research analysts predict that Washington Prime Group Inc will post 1.51 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Tuesday, September 4th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 12.92%. The ex-dividend date of this dividend is Friday, August 31st. Washington Prime Group’s dividend payout ratio is presently 61.35%.
In related news, CEO Louis G. Conforti acquired 20,500 shares of Washington Prime Group stock in a transaction dated Wednesday, August 8th. The stock was acquired at an average cost of $7.31 per share, with a total value of $149,855.00. Following the purchase, the chief executive officer now directly owns 141,715 shares in the company, valued at approximately $1,035,936.65. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.41% of the company’s stock.
About Washington Prime Group
Washington Prime Group Inc is a retail REIT and a recognized leader in the ownership, management, acquisition and development of retail properties. The Company combines a national real estate portfolio with an investment grade balance sheet, leveraging its expertise across the entire shopping center sector to increase cash flow through rigorous management of assets and provide new opportunities to retailers looking for growth throughout the U.S.
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