US Bancorp DE reduced its stake in Washington Prime Group Inc. (NYSE:WPG) by 2.4% during the second quarter, Holdings Channel reports. The firm owned 93,114 shares of the real estate investment trust’s stock after selling 2,332 shares during the period. US Bancorp DE’s holdings in Washington Prime Group were worth $780,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Teza Capital Management LLC purchased a new position in shares of Washington Prime Group during the first quarter valued at approximately $103,000. Creative Planning boosted its position in shares of Washington Prime Group by 26.9% in the second quarter. Creative Planning now owns 12,772 shares of the real estate investment trust’s stock valued at $107,000 after buying an additional 2,710 shares during the period. Wedbush Securities Inc. purchased a new position in shares of Washington Prime Group during the first quarter valued at approximately $108,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Washington Prime Group by 9.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,580 shares of the real estate investment trust’s stock valued at $109,000 after buying an additional 1,137 shares during the period. Finally, Spectrum Management Group Inc. purchased a new position in shares of Washington Prime Group during the first quarter valued at approximately $114,000. 92.46% of the stock is owned by hedge funds and other institutional investors.

Shares of Washington Prime Group Inc. (NYSE WPG) traded down 1.26% on Friday, hitting $8.62. The company’s stock had a trading volume of 5,337,332 shares. Washington Prime Group Inc. has a 52 week low of $7.31 and a 52 week high of $14.15. The stock’s 50-day moving average price is $8.76 and its 200-day moving average price is $8.68. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 9.37 and a beta of 0.95.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a $0.25 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $1.00 annualized dividend and a dividend yield of 11.60%. Washington Prime Group’s payout ratio is 108.70%.

TRADEMARK VIOLATION NOTICE: This report was originally published by Daily Political and is the sole property of of Daily Political. If you are accessing this report on another publication, it was stolen and republished in violation of United States & international copyright & trademark laws. The original version of this report can be viewed at https://www.dailypolitical.com/2017/08/13/us-bancorp-de-decreases-stake-in-washington-prime-group-inc-wpg.html.

Several research analysts recently commented on the company. BidaskClub raised Washington Prime Group from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Boenning Scattergood reaffirmed a “hold” rating on shares of Washington Prime Group in a research report on Friday, July 28th. Zacks Investment Research raised Washington Prime Group from a “hold” rating to a “buy” rating and set a $9.25 target price for the company in a research report on Wednesday, May 10th. ValuEngine cut Washington Prime Group from a “buy” rating to a “hold” rating in a research report on Tuesday, June 6th. Finally, TheStreet raised Washington Prime Group from a “d+” rating to a “c” rating in a report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price 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.

Want to see what other hedge funds are holding WPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Washington Prime Group Inc. (NYSE:WPG).

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

Receive News & Ratings for Washington Prime Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Washington Prime Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.