Washington Prime Group Inc (WPG) Shares Sold by Deutsche Bank AG

Deutsche Bank AG cut its holdings in Washington Prime Group Inc (NYSE:WPG) by 48.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 210,315 shares of the real estate investment trust’s stock after selling 197,300 shares during the quarter. Deutsche Bank AG’s holdings in Washington Prime Group were worth $1,019,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC grew its position in shares of Washington Prime Group by 9.6% in the 4th quarter. Geode Capital Management LLC now owns 2,539,009 shares of the real estate investment trust’s stock valued at $12,339,000 after purchasing an additional 223,374 shares during the period. KG&L Capital Management LLC acquired a new position in shares of Washington Prime Group in the 4th quarter valued at approximately $732,000. Nordea Investment Management AB acquired a new position in shares of Washington Prime Group in the 3rd quarter valued at approximately $4,661,000. Jennison Associates LLC acquired a new position in shares of Washington Prime Group in the 4th quarter valued at approximately $853,000. Finally, Valeo Financial Advisors LLC grew its position in shares of Washington Prime Group by 118.7% in the 4th quarter. Valeo Financial Advisors LLC now owns 387,326 shares of the real estate investment trust’s stock valued at $1,882,000 after purchasing an additional 210,200 shares during the period. Institutional investors and hedge funds own 86.39% of the company’s stock.

In related news, CEO Louis G. Conforti acquired 22,500 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were bought at an average price of $4.55 per share, for a total transaction of $102,375.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Robert P. Demchak sold 11,747 shares of the company’s stock in a transaction that occurred on 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 owns 58,620 shares in the company, valued at approximately $336,478.80. The disclosure for this sale can be found here. Insiders sold a total of 17,129 shares of company stock worth $98,010 in the last 90 days. Company insiders own 0.72% of the company’s stock.

Several research firms have commented on WPG. SunTrust Banks cut Washington Prime Group from a “hold” rating to a “sell” rating and set a $5.20 target price on the stock. in a research note on Tuesday, January 15th. Zacks Investment Research cut Washington Prime Group from a “hold” rating to a “sell” rating in a research note on Friday, February 15th. ValuEngine cut Washington Prime Group from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 1st. Finally, TheStreet upgraded Washington Prime Group from a “d+” rating to a “c” rating in a research note on Thursday, March 7th. Four equities research analysts have rated the stock with a sell rating, The company presently has an average rating of “Sell” and a consensus target price of $4.75.

NYSE WPG opened at $4.72 on Tuesday. The company has a market capitalization of $880.28 million, a price-to-earnings ratio of 3.13 and a beta of 1.01. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 3.40. Washington Prime Group Inc has a 52 week low of $4.23 and a 52 week high of $8.44.

Washington Prime Group (NYSE:WPG) last released its earnings results on Wednesday, April 24th. The real estate investment trust reported ($0.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.32). The firm had revenue of $168.82 million during the quarter, compared to the consensus estimate of $169.27 million. Washington Prime Group had a net margin of 9.96% and a return on equity of 7.53%. The company’s revenue was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 EPS. As a group, equities analysts expect that Washington Prime Group Inc will post 1.2 EPS for the current year.

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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.

Further Reading: Return on Investment (ROI) Defined, Explained

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

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