Virginia Retirement Systems ET AL acquired a new stake in shares of WP Glimcher Inc. (NYSE:WPG) during the second quarter, Holdings Channel reports. The institutional investor acquired 39,400 shares of the real estate investment trust’s stock, valued at approximately $441,000.
Several other hedge funds have also added to or reduced their stakes in WPG. Norges Bank purchased a new stake in shares of WP Glimcher during the fourth quarter worth about $36,761,000. Nisa Investment Advisors L.L.C. increased its stake in shares of WP Glimcher by 344.1% in the first quarter. Nisa Investment Advisors L.L.C. now owns 95,426 shares of the real estate investment trust’s stock worth $906,000 after buying an additional 73,939 shares during the period. Virginia Retirement System purchased a new stake in shares of WP Glimcher during the first quarter worth about $374,000. TIAA CREF Investment Management LLC increased its stake in shares of WP Glimcher by 1.4% in the first quarter. TIAA CREF Investment Management LLC now owns 1,724,437 shares of the real estate investment trust’s stock worth $16,365,000 after buying an additional 23,526 shares during the period. Finally, Teachers Advisors Inc. increased its stake in shares of WP Glimcher by 50.7% in the first quarter. Teachers Advisors Inc. now owns 3,694,578 shares of the real estate investment trust’s stock worth $35,062,000 after buying an additional 1,243,436 shares during the period. 92.85% of the stock is currently owned by institutional investors and hedge funds.
WP Glimcher Inc. (NYSE:WPG) opened at 11.60 on Friday. The stock’s market cap is $2.15 billion. WP Glimcher Inc. has a 52 week low of $7.41 and a 52 week high of $14.15. The company has a 50-day moving average of $12.82 and a 200-day moving average of $11.45.
WP Glimcher (NYSE:WPG) last released its quarterly earnings results on Thursday, August 4th. The real estate investment trust reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.05. WP Glimcher had a negative return on equity of 4.64% and a negative net margin of 6.50%. During the same period in the previous year, the firm posted $0.48 earnings per share. On average, analysts predict that WP Glimcher Inc. will post $1.79 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Friday, September 9th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.62%. The ex-dividend date was Wednesday, September 7th. WP Glimcher’s dividend payout ratio is presently -217.39%.
A number of analysts recently issued reports on WPG shares. Zacks Investment Research raised shares of WP Glimcher from a “sell” rating to a “hold” rating in a report on Saturday, June 11th. Goldman Sachs Group Inc. downgraded shares of WP Glimcher from a “buy” rating to a “neutral” rating in a report on Friday, July 15th.
About WP Glimcher
Washington Prime Group Inc, formerly WP Glimcher Inc, is a real estate investment trust (REIT). The Company is engaged in ownership, development and management of retail real estate properties. Washington Prime Group, L.P. (WPG L.P.) is the Company’s subsidiary that owns, through its affiliates, the Company’s real estate properties and other assets.
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