Washington Prime Group Target of Unusually Large Options Trading (WPG)

Washington Prime Group Inc (NYSE:WPG) was the recipient of unusually large options trading on Tuesday. Traders purchased 4,334 put options on the stock. This is an increase of approximately 1,410% compared to the average daily volume of 287 put options.

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

NYSE:WPG traded up $0.09 during mid-day trading on Thursday, reaching $6.34. The company’s stock had a trading volume of 1,325,184 shares, compared to its average volume of 2,482,993. Washington Prime Group has a 12-month low of $5.40 and a 12-month high of $8.44. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 3.89 and a beta of 0.75.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 3rd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 15.77%. The ex-dividend date of this dividend is Friday, November 30th. Washington Prime Group’s dividend payout ratio (DPR) is 61.35%.

In related news, CEO Louis G. Conforti purchased 13,857 shares of the stock in a transaction dated Thursday, September 20th. The stock was purchased at an average price of $7.22 per share, with a total value of $100,047.54. Following the transaction, the chief executive officer now directly owns 155,572 shares in the company, valued at $1,123,229.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Louis G. Conforti purchased 16,286 shares of the stock in a transaction dated Thursday, November 15th. The stock was bought at an average cost of $6.14 per share, with a total value of $99,996.04. Following the transaction, the chief executive officer now owns 171,858 shares in the company, valued at $1,055,208.12. The disclosure for this purchase can be found here. 0.41% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of the business. Legal & General Group Plc raised its position in Washington Prime Group by 3.0% in the 3rd quarter. Legal & General Group Plc now owns 1,122,091 shares of the real estate investment trust’s stock worth $8,199,000 after buying an additional 32,263 shares during the last quarter. Nordea Investment Management AB purchased a new position in Washington Prime Group in the 3rd quarter worth about $4,661,000. Teachers Advisors LLC raised its position in Washington Prime Group by 1.4% in the 3rd quarter. Teachers Advisors LLC now owns 837,294 shares of the real estate investment trust’s stock worth $6,112,000 after buying an additional 11,326 shares during the last quarter. Bramshill Investments LLC raised its position in Washington Prime Group by 36.1% in the 3rd quarter. Bramshill Investments LLC now owns 322,376 shares of the real estate investment trust’s stock worth $2,353,000 after buying an additional 85,471 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in Washington Prime Group by 81.3% in the 3rd quarter. AQR Capital Management LLC now owns 194,780 shares of the real estate investment trust’s stock worth $1,422,000 after buying an additional 87,323 shares during the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

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Washington Prime Group Company Profile

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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