Washington Prime Group (NYSE:WPG) Stock Rating Upgraded by Truist

Truist upgraded shares of Washington Prime Group (NYSE:WPG) from a sell rating to a hold rating in a report issued on Monday, The Fly reports.

Several other equities analysts also recently commented on WPG. Zacks Investment Research downgraded shares of Washington Prime Group from a hold rating to a sell rating in a research note on Thursday, February 18th. Truist Securities upgraded shares of Washington Prime Group to a hold rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $8.25.

Shares of NYSE:WPG opened at $2.31 on Monday. Washington Prime Group has a 12-month low of $1.69 and a 12-month high of $17.55. The business has a 50 day moving average of $3.86 and a 200-day moving average of $6.98. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.66. The stock has a market cap of $56.15 million, a PE ratio of -6.79 and a beta of 1.36.

Washington Prime Group (NYSE:WPG) last released its quarterly earnings results on Monday, March 15th. The real estate investment trust reported ($5.24) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.07) by ($3.17). Washington Prime Group had a negative return on equity of 7.77% and a negative net margin of 8.92%. Equities research analysts expect that Washington Prime Group will post 0.36 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of WPG. Charles Schwab Investment Management Inc. lifted its position in shares of Washington Prime Group by 31.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,469,271 shares of the real estate investment trust’s stock worth $6,131,000 after buying an additional 2,239,613 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in Washington Prime Group by 757.9% during the third quarter. UBS Asset Management Americas Inc. now owns 295,439 shares of the real estate investment trust’s stock worth $191,000 after acquiring an additional 261,000 shares in the last quarter. State Street Corp boosted its stake in shares of Washington Prime Group by 4.8% in the 3rd quarter. State Street Corp now owns 4,493,231 shares of the real estate investment trust’s stock valued at $2,909,000 after purchasing an additional 205,897 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Washington Prime Group during the 3rd quarter valued at approximately $89,000. Finally, ExodusPoint Capital Management LP acquired a new position in Washington Prime Group during the 4th quarter worth approximately $697,000. 58.87% of the stock is owned by institutional investors and hedge funds.

About Washington Prime Group

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 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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