Washington Prime Group Inc (WPG) Given Consensus Recommendation of “Sell” by Brokerages

Shares of Washington Prime Group Inc (NYSE:WPG) have been assigned an average rating of “Sell” from the six brokerages that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating and one has given a hold rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $5.17.

WPG has been the topic of several research reports. Goldman Sachs Group downgraded shares of Washington Prime Group from a “neutral” rating to a “sell” rating and decreased their price target for the company from $6.60 to $4.30 in a research note on Tuesday, December 18th. SunTrust Banks downgraded shares of Washington Prime Group from a “hold” rating to a “sell” rating and set a $5.20 price objective on the stock. in a research note on Tuesday, January 15th. Finally, Zacks Investment Research downgraded shares of Washington Prime Group from a “hold” rating to a “sell” rating in a research note on Saturday, February 2nd.

Shares of WPG stock traded up $0.08 on Wednesday, hitting $5.59. The company’s stock had a trading volume of 389,787 shares, compared to its average volume of 1,462,642. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.65 and a current ratio of 0.65. Washington Prime Group has a fifty-two week low of $4.63 and a fifty-two week high of $8.44. The company has a market capitalization of $1.02 billion, a PE ratio of 3.43 and a beta of 1.12.

In other news, Director Blucher Sheryl G. Von acquired 25,000 shares of Washington Prime Group stock in a transaction on Thursday, December 20th. The shares were purchased at an average cost of $4.84 per share, for a total transaction of $121,000.00. Following the completion of the purchase, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $121,000. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Louis G. Conforti acquired 16,286 shares of Washington Prime Group stock in a transaction on Thursday, November 15th. The shares were purchased at an average price of $6.14 per share, for a total transaction of $99,996.04. Following the completion of the purchase, the chief executive officer now directly owns 171,858 shares of the company’s stock, valued at $1,055,208.12. The disclosure for this purchase can be found here. Insiders have acquired 111,233 shares of company stock worth $620,417 over the last quarter. Corporate insiders own 0.41% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. State of Alaska Department of Revenue lifted its holdings in shares of Washington Prime Group by 1.6% in the fourth quarter. State of Alaska Department of Revenue now owns 123,131 shares of the real estate investment trust’s stock worth $597,000 after acquiring an additional 1,997 shares during the last quarter. LPL Financial LLC lifted its holdings in shares of Washington Prime Group by 4.2% in the fourth quarter. LPL Financial LLC now owns 59,643 shares of the real estate investment trust’s stock worth $290,000 after acquiring an additional 2,403 shares during the last quarter. Arrow Investment Advisors LLC lifted its holdings in shares of Washington Prime Group by 6.7% in the fourth quarter. Arrow Investment Advisors LLC now owns 59,430 shares of the real estate investment trust’s stock worth $289,000 after acquiring an additional 3,712 shares during the last quarter. ClariVest Asset Management LLC lifted its holdings in shares of Washington Prime Group by 0.9% in the fourth quarter. ClariVest Asset Management LLC now owns 644,200 shares of the real estate investment trust’s stock worth $3,131,000 after acquiring an additional 5,700 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its holdings in shares of Washington Prime Group by 17.8% in the fourth quarter. Crossmark Global Holdings Inc. now owns 38,822 shares of the real estate investment trust’s stock worth $189,000 after acquiring an additional 5,880 shares during the last quarter. Hedge funds and other institutional investors own 86.74% of the company’s stock.

About Washington Prime Group

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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