Washington Prime Group Inc (NYSE:WPG) was the target of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 65,020,000 shares, an increase of 7.6% from the September 30th total of 60,420,000 shares. Currently, 35.1% of the shares of the stock are sold short. Based on an average daily volume of 3,520,000 shares, the short-interest ratio is currently 18.5 days.
Shares of NYSE:WPG opened at $4.41 on Friday. The company has a debt-to-equity ratio of 4.12, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market cap of $826.64 million, a PE ratio of 2.92 and a beta of 0.87. Washington Prime Group has a 52 week low of $3.11 and a 52 week high of $6.50. The firm has a 50 day simple moving average of $4.17 and a 200 day simple moving average of $3.98.
Washington Prime Group (NYSE:WPG) last issued its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.29). The firm had revenue of $161.20 million during the quarter, compared to analysts’ expectations of $167.65 million. Washington Prime Group had a net margin of 5.72% and a return on equity of 4.61%. The firm’s revenue was down 9.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.37 EPS. On average, equities analysts predict that Washington Prime Group will post 1.18 earnings per share for the current year.
Large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC purchased a new stake in shares of Washington Prime Group in the 2nd quarter valued at approximately $25,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Washington Prime Group in the 2nd quarter valued at approximately $48,000. LexAurum Advisors LLC purchased a new stake in shares of Washington Prime Group in the 2nd quarter valued at approximately $50,000. Enlightenment Research LLC purchased a new stake in shares of Washington Prime Group in the 2nd quarter valued at approximately $54,000. Finally, CWM LLC purchased a new stake in shares of Washington Prime Group in the 3rd quarter valued at approximately $54,000. Institutional investors and hedge funds own 86.05% of the company’s stock.
WPG has been the subject of several recent research reports. SunTrust Banks set a $4.00 target price on shares of Washington Prime Group and gave the company a “sell” rating in a research note on Monday, August 26th. ValuEngine raised shares of Washington Prime Group from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Finally, Zacks Investment Research reissued a “sell” rating on shares of Washington Prime Group in a research note on Saturday, October 26th. Three analysts have rated the stock with a sell rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $4.15.
Washington Prime Group Company 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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