Parallel Advisors LLC Buys Shares of 5,414 Washington Prime Group Inc (WPG)

Parallel Advisors LLC bought a new position in Washington Prime Group Inc (NYSE:WPG) during the first quarter, HoldingsChannel reports. The fund bought 5,414 shares of the real estate investment trust’s stock, valued at approximately $31,000.

A number of other hedge funds also recently modified their holdings of the business. BlackRock Inc. grew its stake in Washington Prime Group by 1.3% in the 4th quarter. BlackRock Inc. now owns 32,138,710 shares of the real estate investment trust’s stock worth $156,196,000 after acquiring an additional 416,417 shares in the last quarter. Private Management Group Inc. grew its stake in Washington Prime Group by 1.4% in the 4th quarter. Private Management Group Inc. now owns 5,124,355 shares of the real estate investment trust’s stock worth $24,904,000 after acquiring an additional 71,384 shares in the last quarter. Bank of New York Mellon Corp grew its stake 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 worth $30,047,000 after acquiring an additional 94,779 shares in the last quarter. Advisors Asset Management Inc. grew its stake in Washington Prime Group by 2.4% in the 4th quarter. Advisors Asset Management Inc. now owns 3,102,466 shares of the real estate investment trust’s stock worth $15,078,000 after acquiring an additional 73,150 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in 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 worth $12,339,000 after acquiring an additional 223,374 shares in the last quarter. Institutional investors and hedge funds own 86.46% of the company’s stock.

In other news, SVP Joshua Lindimore sold 5,116 shares of the company’s stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $5.75, for a total value of $29,417.00. Following the completion of the sale, the senior vice president now 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 is available through the SEC website. 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 transaction of $67,427.78. Following the completion of the sale, the executive vice president now directly owns 58,620 shares of the company’s stock, 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 valued at $98,010 in the last ninety days. Corporate insiders own 0.72% of the company’s stock.

A number of equities analysts have commented on WPG shares. TheStreet upgraded shares of Washington Prime Group from a “d+” rating to a “c” rating in a research note on Thursday, March 7th. Zacks Investment Research upgraded shares of Washington Prime Group from a “sell” rating to a “hold” rating in a research note on Saturday, March 2nd. Finally, ValuEngine upgraded shares of Washington Prime Group from a “sell” rating to a “hold” rating in a research note on Thursday, April 18th. Four equities research analysts have rated the stock with a sell rating, Washington Prime Group has an average rating of “Sell” and a consensus target price of $4.75.

Shares of WPG opened at $4.85 on Friday. Washington Prime Group Inc has a fifty-two week low of $4.23 and a fifty-two week high of $8.44. The company has a market capitalization of $923.16 million, a PE ratio of 3.46 and a beta of 1.01. The company has a debt-to-equity ratio of 3.40, a current ratio of 0.51 and a quick ratio of 0.51.

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

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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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