New York State Teachers Retirement System trimmed its holdings in shares of Washington Prime Group Inc (NYSE:WPG) by 7.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 344,478 shares of the real estate investment trust’s stock after selling 26,200 shares during the period. New York State Teachers Retirement System’s holdings in Washington Prime Group were worth $1,316,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Parallel Advisors LLC bought a new stake in Washington Prime Group during the first quarter worth approximately $31,000. Bank of Montreal Can boosted its stake in Washington Prime Group by 97.1% in the 1st quarter. Bank of Montreal Can now owns 7,396 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 3,643 shares during the period. Quantamental Technologies LLC acquired a new position in Washington Prime Group in the 1st quarter worth approximately $48,000. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new position in Washington Prime Group in the 1st quarter worth approximately $57,000. Finally, Evergreen Capital Management LLC acquired a new position in Washington Prime Group in the 1st quarter worth approximately $71,000. Hedge funds and other institutional investors own 84.93% of the company’s stock.
A number of equities analysts recently commented on WPG shares. ValuEngine raised shares of Washington Prime Group from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 2nd. Zacks Investment Research raised shares of Washington Prime Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 23rd. Three investment analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. The stock presently has an average rating of “Sell” and an average price target of $4.75.
Washington Prime Group stock traded down $0.02 during midday trading on Tuesday, reaching $3.54. The stock had a trading volume of 24,426 shares, compared to its average volume of 2,856,092. The firm has a fifty day moving average of $3.70. Washington Prime Group Inc has a twelve month low of $3.23 and a twelve month high of $8.12. The company has a debt-to-equity ratio of 3.82, a quick ratio of 0.44 and a current ratio of 0.44. The firm has a market cap of $671.72 million, a price-to-earnings ratio of 2.35 and a beta of 0.86.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 28.25%. The ex-dividend date is Friday, August 30th. Washington Prime Group’s dividend payout ratio is 66.23%.
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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