What Do Analysts Say About Washington Prime Group Inc. (WPG)

Henrietta Strickland
July 17, 2017

Federated Investors Inc. PA increased its position in shares of Washington Prime Group by 4.8% in the fourth quarter. (NYSE:WPG) by 62.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission.

Washington Prime Group Inc (WPG Inc), formerly WP Glimcher Inc, operates as a self-administered and self-managed real estate investment trust (REIT). That brings the CEO's holdings to $249,116 as recorded in a recent Form 4 SEC filing. Where the relative strength index (RSI) is a technical momentum indicator that compares the magnitude of recent gains to recent losses in an attempt to determine excess buying & selling conditions of an asset, it is one of the most popular technical indicators, computed on the basis of the speed and direction of a stock's price movement. The stock of Washington Prime Group Inc (NYSE:WPG) has "Neutral" rating given on Friday, January 22 by SunTrust. Following the completion of the acquisition, the chief executive officer now owns 40,825 shares of the company's stock, valued at $336,806.25.

Consequently Washington Prime Group Inc Cmn (NYSE:WPG)'s weekly and monthly volatility is 2.43%, 3.26% respectively. ProShare Advisors LLC boosted its stake in Washington Prime Group by 15.1% in the first quarter. Tyers Asset Management LLC acquired a new position in Washington Prime Group during the fourth quarter worth $103,000. Goldman raised its rating on Washington Prime Group Inc.to Buy on 06/01/2016 in a reversal from its prior Neutral rating. The stock increased 2.16% or $0.18 during the last trading session, reaching $8.53.

UBS Group AG reduced its position in Washington Prime Group Inc. (NYSE WPG) opened at 8.83 on Friday. The company has a 50-day moving average price of $7.98 and a 200-day moving average price of $8.97. Washington Prime Group Inc (NYSE:WPG) has declined 18.81% since July 13, 2016 and is downtrending. This change led market cap to move at $1.54B, putting the price -41.63% below the 52-week high and 13.00% above the 52-week low. The stock has been active on the tape, now trading at $8.35, up from yesterday's close by 1.09%. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.02. Return on Equity (ROE) stands at 6% and Return on Investment (ROI) of 4.9 percent. The company had revenue of $202.39 million for the quarter, compared to analyst estimates of $198.72 million.

On July 15 the company was downgraded to "Neutral" from "Buy" in a report from Goldman Sachs. The business's revenue for the quarter was down 3.6% compared to the same quarter previous year.

On average, analysts expect that Washington Prime Group will report full year earnings of $1.67 per share for the current fiscal year.

WARNING: This news story was originally posted by Stock Observer and is owned by of Stock Observer. If you are viewing this article on another website, it was stolen and republished in violation of US & worldwide trademark and copyright laws. Wedbush Securities Inc. acquired a new stake in shares of Washington Prime Group during the first quarter worth about $108,000.

Several brokerages have recently weighed in on WPG. 1 is equivalent to a buy rating, 3 a hold rating, and 5 a sell rating. On Friday, July 15 the stock rating was downgraded by Goldman Sachs to "Neutral".

Some buy side analysts are also providing their Analysis on Washington Prime Group Inc., where 0 analysts have rated the stock as Strong buy, 0 analysts have given a Buy signal, 3 said it's a HOLD, 0 reported it as Underperform and 0 analysts rated the stock as Sell. Also, it has an estimated price-earnings (P/E) multiple of 25.3 and a trailing 12-month price-earnings (P/E) multiple of 29.72. Ubs Asset Management Americas Inc trimmed its position by shedding 10,811 shares a decrease of 19.9% from 03/31/2016 to 06/30/2016. The purchase was disclosed in a document filed with the SEC, which is available through this link. Market Capitalization if basically the market value of the company's shares outstanding. Washington Prime Group, L.P.is the Company's majority-owned partnership subsidiary that owns, develops and manages, through its affiliates, all of WPG Inc.'s real estate properties and other assets.

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