JPMorgan Chase & Co. decreased its stake in WP Glimcher Inc. (NYSE:WPG) by 6.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,199,294 shares of the real estate investment trust’s stock after selling 77,458 shares during the period. JPMorgan Chase & Co. owned approximately 0.64% of WP Glimcher worth $13,420,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of WPG. Hancock Holding Co. bought a new position in shares of WP Glimcher during the first quarter valued at about $101,000. Creative Planning raised 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 valued at $103,000 after buying an additional 7,401 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of WP Glimcher by 7.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,224 shares of the real estate investment trust’s stock valued at $126,000 after buying an additional 801 shares in the last quarter. BlackRock Japan Co. Ltd raised 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 valued at $131,000 after buying an additional 128 shares in the last quarter. Finally, LS Investment Advisors LLC raised 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 valued at $139,000 after buying an additional 4,913 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 up 0.81% on Friday, hitting $12.38. 1,584,721 shares of the company’s stock were exchanged. The stock’s market cap is $2.29 billion. The firm has a 50 day moving average price of $12.95 and a 200-day moving average price of $11.37. WP Glimcher Inc. has a 52-week low of $7.41 and a 52-week high of $14.15.
WP Glimcher (NYSE:WPG) last announced its quarterly earnings data 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 net margin of 6.50% and a negative return on equity of 4.64%. During the same period last year, the business posted $0.48 earnings per share. Analysts predict that WP Glimcher Inc. will post $1.79 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Friday, September 9th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.08%. The ex-dividend date of this dividend was Wednesday, September 7th. WP Glimcher’s payout ratio is -217.39%.
Several brokerages recently issued reports on WPG. Zacks Investment Research raised shares of WP Glimcher from a “sell” rating to a “hold” rating in a research note on Tuesday, August 9th. Goldman Sachs Group Inc. lowered shares of WP Glimcher from a “buy” rating to a “neutral” rating in a research note on Friday, July 15th.
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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