LS Investment Advisors LLC raised its stake in shares of WP Glimcher Inc. (NYSE:WPG) by 65.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,429 shares of the real estate investment trust’s stock after buying an additional 4,913 shares during the period. LS Investment Advisors LLC’s holdings in WP Glimcher were worth $139,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. BlackRock Japan Co. Ltd raised its position in shares of 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 valued at $131,000 after buying an additional 128 shares during the period. Breton Hill Capital Ltd. raised its position in shares of WP Glimcher by 1.1% in the second quarter. Breton Hill Capital Ltd. now owns 39,371 shares of the real estate investment trust’s stock valued at $441,000 after buying an additional 446 shares during the period. Creative Planning raised its position in shares of WP Glimcher by 411.9% in the second quarter. Creative Planning now owns 9,198 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 7,401 shares during the period. Rafferty Asset Management LLC raised its position in shares of WP Glimcher by 49.2% in the first quarter. Rafferty Asset Management LLC now owns 24,444 shares of the real estate investment trust’s stock valued at $232,000 after buying an additional 8,064 shares during the period. Finally, Hancock Holding Co. acquired a new position in shares of WP Glimcher during the first quarter valued at approximately $101,000. 92.85% of the stock is currently owned by institutional investors and hedge funds.
WP Glimcher Inc. (NYSE:WPG) traded up 0.81% during midday trading on Friday, hitting $12.38. The company had a trading volume of 1,584,721 shares. WP Glimcher Inc. has a 52-week low of $7.41 and a 52-week high of $14.15. The stock has a 50 day moving average of $12.95 and a 200 day moving average of $11.37. The firm’s market cap is $2.29 billion.
WP Glimcher (NYSE:WPG) last released its quarterly earnings results on Thursday, August 4th. The real estate investment trust reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.05. WP Glimcher had a negative return on equity of 4.64% and a negative net margin of 6.50%. During the same quarter in the prior year, the business earned $0.48 earnings per share. On average, analysts anticipate that WP Glimcher Inc. will post $1.79 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Friday, September 9th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.08%. The ex-dividend date of this dividend was Wednesday, September 7th. WP Glimcher’s payout ratio is -217.39%.
WPG has been the topic of several research analyst reports. Zacks Investment Research upgraded WP Glimcher from a “sell” rating to a “hold” rating in a report on Saturday, June 11th. Goldman Sachs Group Inc. downgraded WP Glimcher from a “buy” rating to a “neutral” rating in a report on Friday, July 15th.
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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