KG&L Capital Management LLC increased its stake in Washington Prime Group Inc (NYSE:WPG) by 95.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 189,476 shares of the real estate investment trust’s stock after purchasing an additional 92,627 shares during the quarter. KG&L Capital Management LLC’s holdings in Washington Prime Group were worth $784,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the stock. Weiss Asset Management LP lifted its holdings in Washington Prime Group by 18.2% in the first quarter. Weiss Asset Management LP now owns 29,714 shares of the real estate investment trust’s stock worth $168,000 after purchasing an additional 4,574 shares during the period. Commonwealth Equity Services LLC lifted its holdings in Washington Prime Group by 37.7% in the second quarter. Commonwealth Equity Services LLC now owns 23,581 shares of the real estate investment trust’s stock worth $90,000 after purchasing an additional 6,455 shares during the period. Tower Research Capital LLC TRC acquired a new stake in Washington Prime Group in the second quarter worth about $25,000. Swiss National Bank lifted its holdings in Washington Prime Group by 2.1% in the second quarter. Swiss National Bank now owns 346,266 shares of the real estate investment trust’s stock worth $1,323,000 after purchasing an additional 7,100 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in Washington Prime Group by 8.3% in the second quarter. Envestnet Asset Management Inc. now owns 98,587 shares of the real estate investment trust’s stock worth $377,000 after purchasing an additional 7,579 shares during the period. 86.04% of the stock is owned by institutional investors and hedge funds.
WPG stock traded up $0.18 during trading on Friday, hitting $3.86. The company had a trading volume of 2,659,447 shares, compared to its average volume of 3,839,215. The firm has a market capitalization of $716.51 million, a price-to-earnings ratio of 2.56 and a beta of 0.87. The business has a 50 day moving average of $3.73 and a 200 day moving average of $4.15. Washington Prime Group Inc has a fifty-two week low of $3.11 and a fifty-two week high of $6.96. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 3.82.
In other Washington Prime Group news, Director John F. Levy purchased 14,800 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were purchased at an average cost of $3.36 per share, for a total transaction of $49,728.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is currently owned by insiders.
Several research firms recently weighed in on WPG. ValuEngine raised shares of Washington Prime Group from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Zacks Investment Research reaffirmed a “sell” rating on shares of Washington Prime Group in a report on Saturday, October 5th. Finally, SunTrust Banks set a $4.00 price objective on shares of Washington Prime Group and gave the stock a “sell” rating in a report on Monday, August 26th. Three analysts have rated the stock with a sell rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $4.15.
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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