Washington Prime Group (WPG) Set to Announce Quarterly Earnings on Wednesday

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Washington Prime Group (NYSE:WPG) is scheduled to be releasing its earnings data before the market opens on Wednesday, October 24th. Analysts expect Washington Prime Group to post earnings of $0.36 per share for the quarter.

Washington Prime Group (NYSE:WPG) last issued its quarterly earnings data on Wednesday, July 25th. The real estate investment trust reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.32). Washington Prime Group had a net margin of 10.05% and a return on equity of 7.03%. The company had revenue of $178.73 million for the quarter, compared to the consensus estimate of $182.11 million. During the same period in the previous year, the business earned $0.50 EPS. Washington Prime Group’s revenue for the quarter was down 5.5% compared to the same quarter last year. On average, analysts expect Washington Prime Group to post $2 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Shares of WPG stock opened at $6.42 on Tuesday. Washington Prime Group has a 1-year low of $5.40 and a 1-year high of $8.61. The stock has a market cap of $1.21 billion, a P/E ratio of 3.94 and a beta of 0.64. The company has a debt-to-equity ratio of 3.02, a quick ratio of 0.53 and a current ratio of 0.53.

In other Washington Prime Group news, CEO Louis G. Conforti purchased 13,857 shares of the firm’s stock in a transaction on Thursday, September 20th. The stock was bought at an average cost of $7.22 per share, for a total transaction of $100,047.54. Following the completion of the purchase, the chief executive officer now owns 155,572 shares in the company, valued at approximately $1,123,229.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Louis G. Conforti purchased 20,500 shares of the firm’s stock in a transaction on Wednesday, August 8th. The stock was acquired at an average price of $7.31 per share, with a total value of $149,855.00. Following the completion of the purchase, the chief executive officer now owns 141,715 shares of the company’s stock, valued at approximately $1,035,936.65. The disclosure for this purchase can be found here. Company insiders own 0.41% of the company’s stock.

Separately, TheStreet downgraded Washington Prime Group from a “c” rating to a “d+” rating in a research report on Thursday, July 26th. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Washington Prime Group currently has an average rating of “Hold” and an average target price of $7.00.

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 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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Earnings History for Washington Prime Group (NYSE:WPG)

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