New York State Common Retirement Fund Trims Holdings in Washington Prime Group Inc (WPG)

New York State Common Retirement Fund trimmed its position in shares of Washington Prime Group Inc (NYSE:WPG) by 7.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 187,788 shares of the real estate investment trust’s stock after selling 15,400 shares during the quarter. New York State Common Retirement Fund owned about 0.10% of Washington Prime Group worth $913,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wells Fargo & Company MN grew its stake in shares of Washington Prime Group by 3.7% during the 3rd quarter. Wells Fargo & Company MN now owns 454,117 shares of the real estate investment trust’s stock worth $3,315,000 after purchasing an additional 16,127 shares during the period. JPMorgan Chase & Co. lifted its holdings in Washington Prime Group by 1.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,103,033 shares of the real estate investment trust’s stock valued at $15,351,000 after purchasing an additional 27,681 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Washington Prime Group by 132.8% in the 3rd quarter. Alliancebernstein L.P. now owns 797,434 shares of the real estate investment trust’s stock valued at $5,821,000 after purchasing an additional 454,960 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Washington Prime Group by 2.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,115,930 shares of the real estate investment trust’s stock valued at $30,047,000 after purchasing an additional 94,779 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in Washington Prime Group by 7.6% in the 3rd quarter. BlackRock Inc. now owns 31,722,293 shares of the real estate investment trust’s stock valued at $231,572,000 after purchasing an additional 2,244,283 shares in the last quarter. 86.44% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE WPG traded up $0.05 during trading on Friday, hitting $4.83. 1,813,460 shares of the company were exchanged, compared to its average volume of 2,719,027. Washington Prime Group Inc has a 12-month low of $4.54 and a 12-month high of $8.44. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 3.11. The firm has a market cap of $900.57 million, a PE ratio of 3.20 and a beta of 1.13.

Washington Prime Group (NYSE:WPG) last posted its quarterly earnings results on Wednesday, February 20th. The real estate investment trust reported $0.29 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.10). The company had revenue of $184.32 million for the quarter, compared to analysts’ expectations of $190.10 million. Washington Prime Group had a return on equity of 9.55% and a net margin of 12.94%. Research analysts expect that Washington Prime Group Inc will post 1.2 EPS for the current year.

A number of brokerages have weighed in on WPG. ValuEngine lowered Washington Prime Group from a “hold” rating to a “sell” rating in a report on Thursday, April 11th. TheStreet upgraded Washington Prime Group from a “d+” rating to a “c” rating in a report on Thursday, March 7th. Finally, Zacks Investment Research lowered Washington Prime Group from a “hold” rating to a “sell” rating in a report on Wednesday, March 27th. Four equities research analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. Washington Prime Group has an average rating of “Sell” and an average target price of $5.17.

In related news, SVP Joshua Lindimore sold 5,116 shares of the firm’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $5.75, for a total transaction of $29,417.00. Following the completion of the sale, the senior vice president now directly owns 18,920 shares of the company’s stock, valued at approximately $108,790. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert P. Demchak sold 11,747 shares of the firm’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $5.74, for a total value of $67,427.78. Following the sale, the executive vice president now directly owns 58,620 shares of the company’s stock, valued at $336,478.80. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

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Washington Prime Group Profile

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

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