Washington Prime Group (WPG) Releases FY18 Earnings Guidance

Washington Prime Group (NYSE:WPG) issued an update on its FY18 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.48-1.56 for the period, compared to the Thomson Reuters consensus estimate of $1.51.

WPG stock traded down $0.14 on Friday, hitting $6.54. 191,899 shares of the company were exchanged, compared to its average volume of 2,712,086. Washington Prime Group has a twelve month low of $5.40 and a twelve month high of $8.44. The company has a debt-to-equity ratio of 3.02, a quick ratio of 0.53 and a current ratio of 0.53. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 4.01 and a beta of 0.64.

Washington Prime Group (NYSE:WPG) last issued its quarterly earnings results on Wednesday, July 25th. The real estate investment trust reported $0.05 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.32). Washington Prime Group had a return on equity of 7.03% and a net margin of 10.05%. The company had revenue of $178.73 million for the quarter, compared to analyst estimates of $182.11 million. During the same period last year, the company posted $0.50 EPS. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. As a group, equities analysts forecast that Washington Prime Group will post 1.51 EPS for the current fiscal year.

Separately, TheStreet lowered shares of Washington Prime Group from a c rating to a d+ rating in a research report on Thursday, July 26th. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. The company has a consensus rating of Hold and an average price target of $7.00.

In other Washington Prime Group news, CEO Louis G. Conforti acquired 20,500 shares of the firm’s stock in a transaction on Wednesday, August 8th. The stock was bought at an average cost of $7.31 per share, for a total transaction of $149,855.00. Following the completion of the purchase, the chief executive officer now directly owns 141,715 shares in the company, valued at $1,035,936.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Louis G. Conforti acquired 13,857 shares of the firm’s stock in a transaction on Thursday, September 20th. The shares were acquired at an average price of $7.22 per share, with a total value of $100,047.54. Following the completion of the purchase, the chief executive officer now owns 155,572 shares of the company’s stock, valued at $1,123,229.84. The disclosure for this purchase can be found here. Corporate insiders own 0.41% 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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Earnings History and Estimates for Washington Prime Group (NYSE:WPG)

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