Real Estate Management Services LLC bought a new position in WP Glimcher Inc. (NYSE:WPG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 894,800 shares of the real estate investment trust’s stock, valued at approximately $10,013,000. WP Glimcher comprises approximately 1.7% of Real Estate Management Services LLC’s investment portfolio, making the stock its 21st largest position.
A number of other large investors have also recently added to or reduced their stakes in the company. Hancock Holding Co. acquired a new position in shares of WP Glimcher during the first quarter worth approximately $101,000. Creative Planning boosted its position in shares of WP Glimcher by 411.9% in the second quarter. Creative Planning now owns 9,198 shares of the real estate investment trust’s stock worth $103,000 after buying an additional 7,401 shares in the last quarter. BlackRock Japan Co. Ltd boosted its position in shares of WP Glimcher by 0.9% in the first quarter. BlackRock Japan Co. Ltd now owns 13,841 shares of the real estate investment trust’s stock worth $131,000 after buying an additional 128 shares in the last quarter. LS Investment Advisors LLC boosted its position in shares of WP Glimcher by 65.4% in the second quarter. LS Investment Advisors LLC now owns 12,429 shares of the real estate investment trust’s stock worth $139,000 after buying an additional 4,913 shares in the last quarter. Finally, Rafferty Asset Management LLC boosted its position in shares of WP Glimcher by 49.2% in the first quarter. Rafferty Asset Management LLC now owns 24,444 shares of the real estate investment trust’s stock worth $232,000 after buying an additional 8,064 shares in the last quarter. 92.85% of the stock is currently owned by institutional investors and hedge funds.
WP Glimcher Inc. (NYSE:WPG) traded down 1.53% on Monday, hitting $12.19. 959,459 shares of the stock were exchanged. The company has a 50-day moving average price of $12.95 and a 200 day moving average price of $11.37. The company’s market capitalization is $2.26 billion. WP Glimcher Inc. has a 1-year low of $7.41 and a 1-year high of $14.15.
WP Glimcher (NYSE:WPG) last issued its earnings results on Thursday, August 4th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.05. WP Glimcher had a negative net margin of 6.50% and a negative return on equity of 4.64%. During the same period in the previous year, the business posted $0.48 EPS. Analysts anticipate that WP Glimcher Inc. will post $1.79 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Friday, September 9th were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.20%. WP Glimcher’s payout ratio is -217.39%.
WPG has been the subject of a number of analyst reports. Goldman Sachs Group Inc. cut shares of WP Glimcher from a “buy” rating to a “neutral” rating in a research note on Friday, July 15th. Zacks Investment Research upgraded shares of WP Glimcher from a “sell” rating to a “hold” rating in a research note on Tuesday, August 9th.
WP Glimcher Company Profile
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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