WP Glimcher Inc. (WPG) Shares Up 4%
WP Glimcher Inc. (NYSE:WPG)’s share price shot up 4% during trading on Monday . The stock traded as high as $12.64 and last traded at $12.60, with a volume of 1,621,714 shares trading hands. The stock had previously closed at $12.11.
Several brokerages have recently commented on WPG. Goldman Sachs Group Inc. upgraded WP Glimcher from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 1st. Zacks Investment Research upgraded WP Glimcher from a “sell” rating to a “hold” rating in a research note on Tuesday, May 31st. Finally, Boenning Scattergood upgraded WP Glimcher from an “underperform” rating to a “neutral” rating in a research note on Wednesday, April 6th.
The firm’s 50 day moving average price is $10.83 and its 200 day moving average price is $9.85. The company’s market cap is $2.33 billion.
WP Glimcher (NYSE:WPG) last released its quarterly earnings data on Wednesday, May 4th. The real estate investment trust reported $0.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.02. The business earned $210.03 million during the quarter, compared to the consensus estimate of $225.07 million. During the same quarter in the prior year, the business earned $0.47 earnings per share. The business’s revenue was down 11.6% compared to the same quarter last year. On average, analysts expect that WP Glimcher Inc. will post $1.78 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Friday, June 3rd were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 7.94%. The ex-dividend date was Wednesday, June 1st.
A number of institutional investors recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in WP Glimcher by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 26,317,396 shares of the real estate investment trust’s stock worth $279,228,000 after buying an additional 665,658 shares during the period. Morgan Stanley raised its position in shares of WP Glimcher by 16.5% in the fourth quarter. Morgan Stanley now owns 14,461,680 shares of the real estate investment trust’s stock valued at $153,440,000 after buying an additional 2,046,190 shares during the period. Dimensional Fund Advisors LP raised its position in shares of WP Glimcher by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,382,035 shares of the real estate investment trust’s stock valued at $25,273,000 after buying an additional 98,553 shares during the period. Fiduciary Management Associates LLC raised its position in shares of WP Glimcher by 6.9% in the fourth quarter. Fiduciary Management Associates LLC now owns 1,935,631 shares of the real estate investment trust’s stock valued at $20,539,000 after buying an additional 124,695 shares during the period. Finally, New York State Common Retirement Fund raised its position in shares of WP Glimcher by 24.9% in the fourth quarter. New York State Common Retirement Fund now owns 531,305 shares of the real estate investment trust’s stock valued at $5,637,000 after buying an additional 105,905 shares during the period.
WP Glimcher Inc, formerly Washington Prime Group Inc, is a real estate investment trust (REIT). The Company is engaged in ownership, development and management of retail real estate properties. Washington Prime Group, L.P. (WPG L.P.) is the Company’s subsidiary that owns, through its affiliates, the Company’s real estate properties and other assets.
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