Strs Ohio lowered its holdings in Washington Prime Group Inc (NYSE:WPG) by 5.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 278,507 shares of the real estate investment trust’s stock after selling 16,055 shares during the period. Strs Ohio owned about 0.15% of Washington Prime Group worth $1,063,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of WPG. Parallel Advisors LLC bought a new position in Washington Prime Group in the first quarter worth about $31,000. Bank of Montreal Can lifted its holdings in Washington Prime Group by 97.1% in the first quarter. Bank of Montreal Can now owns 7,396 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 3,643 shares during the last quarter. Quantamental Technologies LLC bought a new position in Washington Prime Group in the first quarter worth about $48,000. LexAurum Advisors LLC bought a new position in Washington Prime Group in the second quarter worth about $50,000. Finally, Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in Washington Prime Group in the first quarter worth about $57,000. 85.06% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on WPG shares. Zacks Investment Research raised Washington Prime Group from a “strong sell” rating to a “hold” rating in a report on Thursday, May 23rd. ValuEngine raised Washington Prime Group from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 2nd. Three equities research analysts have rated the stock with a sell rating and one has given a hold rating to the stock. Washington Prime Group presently has an average rating of “Sell” and a consensus target price of $4.75.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, August 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 28.25%. Washington Prime Group’s dividend payout ratio (DPR) is presently 66.23%.
In other Washington Prime Group news, CEO Louis G. Conforti purchased 28,250 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were bought at an average price of $3.48 per share, with a total value of $98,310.00. Following the completion of the acquisition, the chief executive officer now owns 349,438 shares in the company, valued at approximately $1,216,044.24. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director J. Taggart Birge purchased 28,300 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were acquired at an average cost of $3.53 per share, for a total transaction of $99,899.00. The disclosure for this purchase can be found here. Insiders own 0.72% of the company’s stock.
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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