Washington Prime Group Inc. (WPG) Short Interest Up 19.5% in October
Washington Prime Group Inc. (NYSE:WPG) was the recipient of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 21,589,346 shares, a growth of 19.5% from the October 13th total of 18,063,696 shares. Based on an average daily volume of 2,499,016 shares, the days-to-cover ratio is currently 8.6 days. Currently, 11.7% of the company’s shares are sold short.
Several hedge funds have recently added to or reduced their stakes in WPG. APG Asset Management US Inc. bought a new stake in shares of Washington Prime Group in the second quarter valued at about $40,827,000. Bank of New York Mellon Corp raised its holdings in shares of Washington Prime Group by 42.3% in the second quarter. Bank of New York Mellon Corp now owns 6,413,013 shares of the real estate investment trust’s stock valued at $53,677,000 after acquiring an additional 1,907,079 shares in the last quarter. FMR LLC raised its holdings in shares of Washington Prime Group by 51.3% in the second quarter. FMR LLC now owns 5,470,935 shares of the real estate investment trust’s stock valued at $45,792,000 after acquiring an additional 1,854,721 shares in the last quarter. Carleon Capital Partners LLC bought a new stake in shares of Washington Prime Group in the second quarter valued at about $7,321,000. Finally, Private Management Group Inc. bought a new stake in shares of Washington Prime Group in the second quarter valued at about $9,928,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.
Shares of Washington Prime Group (NYSE:WPG) opened at $7.34 on Friday. The stock has a market cap of $1,350.00, a price-to-earnings ratio of 4.22 and a beta of 0.93. Washington Prime Group has a one year low of $6.71 and a one year high of $10.97. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.07 and a current ratio of 0.07.
Washington Prime Group (NYSE:WPG) last issued its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.03). The company had revenue of $179.32 million for the quarter, compared to analysts’ expectations of $188.54 million. Washington Prime Group had a net margin of 21.85% and a return on equity of 16.17%. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.46 earnings per share. sell-side analysts predict that Washington Prime Group will post 1.63 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.00 annualized dividend and a dividend yield of 13.62%. Washington Prime Group’s payout ratio is currently 138.89%.
A number of analysts have recently issued reports on the stock. Boenning Scattergood reissued a “hold” rating on shares of Washington Prime Group in a research note on Friday, July 28th. TheStreet raised shares of Washington Prime Group from a “d+” rating to a “c” rating in a research note on Wednesday, July 26th. Zacks Investment Research lowered shares of Washington Prime Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. BidaskClub raised shares of Washington Prime Group from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. Finally, ValuEngine lowered shares of Washington Prime Group from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold”.
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Washington Prime Group Company Profile
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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