KG&L Capital Management LLC grew its position in shares of Washington Prime Group Inc (NYSE:WPG) by 95.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 189,476 shares of the real estate investment trust’s stock after purchasing an additional 92,627 shares during the period. KG&L Capital Management LLC owned 0.10% of Washington Prime Group worth $784,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. Weiss Asset Management LP boosted its stake in shares of Washington Prime Group by 18.2% during the 1st 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 last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Washington Prime Group by 37.7% during the 2nd 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 last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Washington Prime Group during the 2nd quarter worth about $25,000. Swiss National Bank boosted its stake in shares of Washington Prime Group by 2.1% during the 2nd 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 last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Washington Prime Group by 8.3% during the 2nd 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 last quarter. 86.04% of the stock is currently owned by institutional investors.
Several equities research analysts have issued reports on the stock. Zacks Investment Research reaffirmed a “sell” rating on shares of Washington Prime Group in a research note on Saturday, October 5th. ValuEngine raised shares of Washington Prime Group from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Finally, SunTrust Banks set a $4.00 target price on shares of Washington Prime Group and gave the stock a “sell” rating in a research report on Monday, August 26th. Three analysts have rated the stock with a sell rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $4.15.
Shares of WPG traded up $0.18 during mid-day 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 business’s 50-day simple moving average is $3.73 and its 200-day simple moving average is $4.15. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 3.82. Washington Prime Group Inc has a 1-year low of $3.11 and a 1-year high of $6.96. The stock has a market cap of $716.51 million, a PE ratio of 2.56 and a beta of 0.87.
The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were given a $0.25 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.00 annualized dividend and a dividend yield of 25.91%. Washington Prime Group’s dividend payout ratio is presently 66.23%.
In related news, Director John F. Levy bought 14,800 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were acquired at an average cost of $3.36 per share, with a total value of $49,728.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.72% of the stock is currently owned by company insiders.
Washington Prime Group 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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