WP Glimcher Inc. (NYSE:WPG) has been assigned an average broker rating score of 3.00 (Hold) from the two analysts that cover the stock, Zacks Investment Research reports. Two analysts have rated the stock with a hold rating.
Brokerages have set a twelve-month consensus price target of $12.00 for the company and are expecting that the company will post $0.44 EPS for the current quarter, according to Zacks. Zacks has also assigned WP Glimcher an industry rank of 82 out of 265 based on the ratings given to related companies.
Several equities research analysts recently weighed in on WPG shares. Zacks Investment Research raised shares of WP Glimcher from a “sell” rating to a “hold” rating in a research report on Tuesday, August 9th. Goldman Sachs Group Inc. downgraded shares of WP Glimcher from a “buy” rating to a “neutral” rating in a research report on Friday, July 15th.
A number of large investors have recently bought and sold shares of WPG. Hancock Holding Co. bought a new stake in WP Glimcher during the first quarter worth approximately $101,000. Creative Planning increased its stake in WP Glimcher by 411.9% in the second quarter. Creative Planning now owns 9,198 shares of the real estate investment trust’s stock worth $103,000 after buying an additional 7,401 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in WP Glimcher by 7.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,224 shares of the real estate investment trust’s stock worth $126,000 after buying an additional 801 shares during the period. Raymond James & Associates increased its stake in WP Glimcher by 1.1% in the second quarter. Raymond James & Associates now owns 11,494 shares of the real estate investment trust’s stock worth $129,000 after buying an additional 122 shares during the period. Finally, BlackRock Japan Co. Ltd increased its stake in WP Glimcher by 0.9% in the first quarter. BlackRock Japan Co. Ltd now owns 13,841 shares of the real estate investment trust’s stock worth $131,000 after buying an additional 128 shares during the period. 92.85% of the stock is owned by institutional investors and hedge funds.
Shares of WP Glimcher (NYSE:WPG) opened at 12.38 on Thursday. The firm’s 50 day moving average price is $12.95 and its 200 day moving average price is $11.37. The stock’s market cap is $2.29 billion. WP Glimcher has a 52-week low of $7.41 and a 52-week high of $14.15.
WP Glimcher (NYSE:WPG) last released its earnings results on Thursday, August 4th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.05. WP Glimcher had a negative net margin of 6.50% and a negative return on equity of 4.64%. During the same quarter last year, the business earned $0.48 earnings per share. On average, analysts expect that WP Glimcher will post $1.79 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Friday, September 9th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.08%. The ex-dividend date was Wednesday, September 7th. WP Glimcher’s dividend payout ratio (DPR) is currently -217.39%.
WP Glimcher Company Profile
Washington Prime Group Inc, formerly WP Glimcher Inc, is a real estate investment trust (REIT). The Company is engaged in ownership, development and management of retail real estate properties. Washington Prime Group, L.P. (WPG L.P.) is the Company’s subsidiary that owns, through its affiliates, the Company’s real estate properties and other assets.
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