MetLife Investment Advisors LLC bought a new stake in shares of Washington Prime Group (NYSE:WPG) in the 4th quarter, Holdings Channel reports. The firm bought 193,630 shares of the real estate investment trust’s stock, valued at approximately $1,379,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. grew its position in Washington Prime Group by 1.1% during the fourth quarter. BlackRock Inc. now owns 25,151,655 shares of the real estate investment trust’s stock valued at $179,078,000 after buying an additional 263,524 shares during the period. Bank of New York Mellon Corp grew its position in Washington Prime Group by 10.6% during the fourth quarter. Bank of New York Mellon Corp now owns 7,266,444 shares of the real estate investment trust’s stock valued at $51,737,000 after buying an additional 699,063 shares during the period. Private Management Group Inc. grew its position in Washington Prime Group by 169.6% during the fourth quarter. Private Management Group Inc. now owns 4,725,510 shares of the real estate investment trust’s stock valued at $33,646,000 after buying an additional 2,972,581 shares during the period. Schwab Charles Investment Management Inc. grew its position in Washington Prime Group by 9.0% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 3,322,561 shares of the real estate investment trust’s stock valued at $23,657,000 after buying an additional 274,262 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Washington Prime Group by 4.9% during the third quarter. Dimensional Fund Advisors LP now owns 2,802,946 shares of the real estate investment trust’s stock valued at $23,349,000 after buying an additional 130,514 shares during the period. Institutional investors own 91.92% of the company’s stock.
In other news, CEO Louis G. Conforti purchased 28,198 shares of the stock in a transaction on Wednesday, February 28th. The shares were acquired at an average price of $6.49 per share, with a total value of $183,005.02. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.28% of the stock is owned by insiders.
Washington Prime Group (NYSE:WPG) last issued its quarterly earnings results on Wednesday, February 21st. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.17). Washington Prime Group had a net margin of 25.53% and a return on equity of 18.15%. The firm had revenue of $187.24 million for the quarter, compared to analysts’ expectations of $192.93 million. equities research analysts predict that Washington Prime Group will post 1.52 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Monday, March 5th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 14.68%. The ex-dividend date was Friday, March 2nd. Washington Prime Group’s dividend payout ratio is currently 61.35%.
Several brokerages recently issued reports on WPG. Zacks Investment Research lowered shares of Washington Prime Group from a “hold” rating to a “sell” rating in a research report on Friday, January 26th. ValuEngine downgraded shares of Washington Prime Group from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Boenning Scattergood reaffirmed a “sell” rating on shares of Washington Prime Group in a report on Friday, February 23rd. Finally, SunTrust Banks set a $8.00 price target on shares of Washington Prime Group and gave the company a “hold” rating in a report on Monday, January 22nd. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Washington Prime Group currently has a consensus rating of “Hold” and a consensus target price of $8.00.
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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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