Mackay Shields LLC bought a new position in Washington Prime Group Inc (NYSE:WPG) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 48,500 shares of the real estate investment trust’s stock, valued at approximately $236,000.

Other large investors have also recently made changes to their positions in the company. Truehand Inc bought a new position in shares of Washington Prime Group in the 4th quarter worth approximately $29,000. Sheaff Brock Investment Advisors LLC bought a new position in shares of Washington Prime Group in the 4th quarter worth approximately $60,000. NumerixS Investment Technologies Inc bought a new position in shares of Washington Prime Group in the 4th quarter worth approximately $61,000. Oregon Public Employees Retirement Fund bought a new position in shares of Washington Prime Group in the 4th quarter worth approximately $71,000. Finally, Dorsey & Whitney Trust CO LLC bought a new position in shares of Washington Prime Group in the 4th quarter worth approximately $78,000. 86.54% of the stock is owned by hedge funds and other institutional investors.

Washington Prime Group stock opened at $5.49 on Thursday. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 3.11. The company has a market capitalization of $1.05 billion, a P/E ratio of 3.64 and a beta of 1.13. Washington Prime Group Inc has a twelve month low of $4.63 and a twelve month high of $8.44.

Washington Prime Group (NYSE:WPG) last posted its quarterly earnings results on Wednesday, February 20th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.10). The company had revenue of $184.32 million during the quarter, compared to analysts’ expectations of $190.10 million. Washington Prime Group had a return on equity of 9.55% and a net margin of 12.94%. On average, analysts expect that Washington Prime Group Inc will post 1.2 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were paid a $0.25 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.00 annualized dividend and a dividend yield of 18.21%. Washington Prime Group’s payout ratio is currently 66.23%.

Separately, Zacks Investment Research lowered Washington Prime Group from a “hold” rating to a “sell” rating in a research report on Saturday, February 9th. Four investment analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. The stock presently has a consensus rating of “Sell” and a consensus target price of $5.17.

In related news, EVP Robert P. Demchak sold 11,747 shares of the company’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $5.74, for a total value of $67,427.78. Following the sale, the executive vice president now owns 58,620 shares in the company, valued at approximately $336,478.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Joshua Lindimore sold 5,116 shares of the company’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $5.75, for a total value of $29,417.00. Following the completion of the sale, the senior vice president now owns 18,920 shares in the company, valued at approximately $108,790. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

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Washington Prime Group Profile

Washington Prime Group Inc is a retail REIT and a recognized leader in the ownership, management, acquisition and development of retail properties. The Company combines a national real estate portfolio with an investment grade balance sheet, leveraging its expertise across the entire shopping center sector to increase cash flow through rigorous management of assets and provide new opportunities to retailers looking for growth throughout the U.S.

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

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