WP Glimcher Inc. (NYSE:WPG) dropped 1.5% during mid-day trading on Tuesday . The stock traded as low as $12.33 and last traded at $12.40, with a volume of 702,383 shares. The stock had previously closed at $12.59.

WPG has been the subject of several analyst reports. Goldman Sachs Group Inc. restated a “buy” rating on shares of WP Glimcher in a report on Wednesday, April 20th. Boenning Scattergood upgraded shares of WP Glimcher from an “underperform” rating to a “neutral” rating in a report on Wednesday, April 6th. Finally, Zacks Investment Research lowered shares of WP Glimcher from a “hold” rating to a “sell” rating in a report on Tuesday, May 24th.

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 capitalization is $2.28 billion.

WP Glimcher (NYSE:WPG) last announced its earnings results on Wednesday, May 4th. The real estate investment trust reported $0.42 earnings per share (EPS) 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. The firm’s quarterly revenue was down 11.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.47 earnings per share. Equities research analysts forecast that WP Glimcher Inc. will post $1.78 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Friday, June 3rd were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.14%. The ex-dividend date was Wednesday, June 1st.

Several large investors have recently bought and sold shares of WPG. Morgan Stanley raised its stake in 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 in the last quarter. Vanguard Group Inc. raised its stake 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 valued at $279,228,000 after buying an additional 665,658 shares in the last quarter. Alpine Woods Capital Investors LLC raised its stake in WP Glimcher by 810.6% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 274,383 shares of the real estate investment trust’s stock valued at $2,911,000 after buying an additional 244,250 shares in the last quarter. Cornerstone Capital Management Holdings LLC. raised its stake in WP Glimcher by 287.4% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 179,136 shares of the real estate investment trust’s stock valued at $1,901,000 after buying an additional 132,890 shares in the last quarter. Finally, Fiduciary Management Associates LLC raised its stake in 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 in the last quarter.

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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