Bank of America Corp DE reduced its stake in shares of Washington Prime Group Inc. (NYSE:WPG) by 12.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 279,416 shares of the real estate investment trust’s stock after selling 41,030 shares during the period. Bank of America Corp DE’s holdings in Washington Prime Group were worth $2,429,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. LSV Asset Management increased its stake in shares of Washington Prime Group by 31.3% in the first quarter. LSV Asset Management now owns 1,859,745 shares of the real estate investment trust’s stock valued at $16,161,000 after buying an additional 442,939 shares during the last quarter. State Treasurer State of Michigan increased its stake in shares of Washington Prime Group by 0.9% in the first quarter. State Treasurer State of Michigan now owns 75,321 shares of the real estate investment trust’s stock valued at $655,000 after buying an additional 700 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in shares of Washington Prime Group by 2.4% in the first quarter. Great West Life Assurance Co. Can now owns 203,601 shares of the real estate investment trust’s stock valued at $1,767,000 after buying an additional 4,734 shares during the last quarter. Camelot Portfolios LLC increased its stake in shares of Washington Prime Group by 14.6% in the first quarter. Camelot Portfolios LLC now owns 253,761 shares of the real estate investment trust’s stock valued at $2,205,000 after buying an additional 32,239 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of Washington Prime Group by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 65,082 shares of the real estate investment trust’s stock valued at $566,000 after buying an additional 900 shares during the last quarter. Hedge funds and other institutional investors own 92.46% of the company’s stock.

Shares of Washington Prime Group Inc. (WPG) traded down 3.036% during midday trading on Friday, reaching $8.465. The company had a trading volume of 1,417,429 shares. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 9.201 and a beta of 0.95. The firm’s 50 day moving average price is $8.74 and its 200-day moving average price is $8.69. Washington Prime Group Inc. has a 1-year low of $7.31 and a 1-year high of $14.15.

Washington Prime Group (NYSE:WPG) last released its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.06. Washington Prime Group had a return on equity of 17.36% and a net margin of 22.65%. The company had revenue of $189.17 million during the quarter, compared to analysts’ expectations of $197.69 million. During the same quarter in the prior year, the firm posted $0.45 EPS. Washington Prime Group’s quarterly revenue was down 8.1% compared to the same quarter last year. Equities research analysts expect that Washington Prime Group Inc. will post $1.05 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, August 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.45%. Washington Prime Group’s payout ratio is currently 108.70%.

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Several brokerages have weighed in on WPG. Boenning Scattergood reiterated a “hold” rating on shares of Washington Prime Group in a research report on Friday, July 28th. TheStreet upgraded Washington Prime Group from a “d+” rating to a “c” rating in a report on Wednesday, July 26th. Zacks Investment Research downgraded Washington Prime Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. BidaskClub upgraded Washington Prime Group from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Finally, ValuEngine downgraded Washington Prime Group from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. Washington Prime Group presently has an average rating of “Hold” and an average price target of $9.25.

About Washington Prime Group

Washington Prime Group Inc (WPG Inc), formerly WP Glimcher Inc, operates as a self-administered and self-managed real estate investment trust (REIT). The Company’s primary business is the ownership, development and management of retail real estate within the United States. The Company owns, develops and manages enclosed retail properties and community centers.

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Institutional Ownership by Quarter for Washington Prime Group (NYSE:WPG)

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