Washington Prime Group (NYSE:WPG) Reaches New 52-Week Low at $2.70

Washington Prime Group Inc (NYSE:WPG)’s stock price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $2.70 and last traded at $2.82, with a volume of 188140 shares traded. The stock had previously closed at $2.96.

A number of analysts have recently issued reports on WPG shares. Zacks Investment Research raised Washington Prime Group from a “sell” rating to a “hold” rating in a research note on Wednesday, January 29th. ValuEngine raised Washington Prime Group from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th.

The stock has a market cap of $498.22 million, a PE ratio of 17.80 and a beta of 0.92. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 4.12. The stock has a 50-day moving average of $3.37 and a 200 day moving average of $3.74.

Institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue lifted its position in Washington Prime Group by 22.2% during the fourth quarter. State of Alaska Department of Revenue now owns 193,978 shares of the real estate investment trust’s stock worth $705,000 after buying an additional 35,235 shares in the last quarter. Koshinski Asset Management Inc. purchased a new position in Washington Prime Group during the fourth quarter worth approximately $154,000. Tower Research Capital LLC TRC lifted its position in Washington Prime Group by 143.0% during the third quarter. Tower Research Capital LLC TRC now owns 16,028 shares of the real estate investment trust’s stock worth $66,000 after buying an additional 9,433 shares in the last quarter. State Street Corp lifted its position in Washington Prime Group by 1.4% during the third quarter. State Street Corp now owns 10,705,865 shares of the real estate investment trust’s stock worth $44,322,000 after buying an additional 149,604 shares in the last quarter. Finally, AE Wealth Management LLC lifted its position in Washington Prime Group by 15.7% during the fourth quarter. AE Wealth Management LLC now owns 462,819 shares of the real estate investment trust’s stock worth $1,685,000 after buying an additional 62,719 shares in the last quarter. Hedge funds and other institutional investors own 82.26% of the company’s stock.

About Washington Prime Group (NYSE:WPG)

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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