Wall Street analysts expect Washington Prime Group Inc (NYSE:WPG) to report earnings of $0.37 per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Washington Prime Group’s earnings. The lowest EPS estimate is $0.36 and the highest is $0.37. Washington Prime Group reported earnings of $0.40 per share in the same quarter last year, which suggests a negative year over year growth rate of 7.5%. The business is expected to issue its next quarterly earnings report on Wednesday, July 25th.
According to Zacks, analysts expect that Washington Prime Group will report full-year earnings of $1.51 per share for the current fiscal year, with EPS estimates ranging from $1.50 to $1.52. For the next financial year, analysts forecast that the firm will report earnings of $1.43 per share, with EPS estimates ranging from $1.42 to $1.44. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Washington Prime Group.
Washington Prime Group (NYSE:WPG) last announced its quarterly earnings results on Wednesday, April 25th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.30). Washington Prime Group had a net margin of 26.94% and a return on equity of 18.52%. The company had revenue of $180.34 million during the quarter, compared to analysts’ expectations of $178.70 million.
Shares of Washington Prime Group traded up $0.02, reaching $7.81, on Thursday, Marketbeat reports. The company had a trading volume of 2,426,128 shares, compared to its average volume of 3,193,518. Washington Prime Group has a 52-week low of $5.40 and a 52-week high of $9.79. The company has a market capitalization of $1.48 billion, a PE ratio of 4.79 and a beta of 0.66. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 1.03.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, June 1st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, May 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.80%. Washington Prime Group’s dividend payout ratio is presently 61.35%.
Several large investors have recently made changes to their positions in the company. Private Management Group Inc. boosted its position in shares of Washington Prime Group by 169.6% in the 4th quarter. Private Management Group Inc. now owns 4,725,510 shares of the real estate investment trust’s stock worth $33,646,000 after purchasing an additional 2,972,581 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Washington Prime Group by 10.6% in the 4th quarter. Bank of New York Mellon Corp now owns 7,266,444 shares of the real estate investment trust’s stock worth $51,737,000 after purchasing an additional 699,063 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Washington Prime Group by 166.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,089,897 shares of the real estate investment trust’s stock worth $7,760,000 after purchasing an additional 681,482 shares in the last quarter. Global X Management Co. LLC boosted its position in shares of Washington Prime Group by 54.1% in the 1st quarter. Global X Management Co. LLC now owns 1,577,327 shares of the real estate investment trust’s stock worth $10,521,000 after purchasing an additional 553,800 shares in the last quarter. Finally, Arnhold LLC acquired a new stake in shares of Washington Prime Group in the 1st quarter worth $3,685,000. Institutional investors and hedge funds own 86.45% 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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