Washington Prime Group (NYSE:WPG) was upgraded by research analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research report issued on Tuesday, ValuEngine reports.

Several other research analysts have also commented on the company. SunTrust Banks reduced their price target on Washington Prime Group from $3.50 to $1.00 and set a “sell” rating on the stock in a report on Friday, April 24th. Compass Point started coverage on Washington Prime Group in a report on Thursday, June 4th. They set a “neutral” rating and a $1.00 price target on the stock. Finally, Zacks Investment Research lowered Washington Prime Group from a “hold” rating to a “sell” rating in a report on Saturday.

WPG traded up $0.01 on Tuesday, hitting $0.84. 6,894,075 shares of the company’s stock were exchanged, compared to its average volume of 6,608,082. Washington Prime Group has a fifty-two week low of $0.56 and a fifty-two week high of $4.69. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 4.70. The firm has a 50-day moving average price of $0.85 and a 200-day moving average price of $1.94. The stock has a market cap of $156.37 million, a price-to-earnings ratio of 0.71 and a beta of 1.46.

Washington Prime Group (NYSE:WPG) last announced its earnings results on Thursday, May 7th. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.09. Washington Prime Group had a net margin of 1.99% and a return on equity of 1.77%. The company had revenue of $152.60 million for the quarter, compared to analysts’ expectations of $161.50 million. On average, equities analysts predict that Washington Prime Group will post 0.71 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Jeereddi Investments LP purchased a new stake in Washington Prime Group in the 4th quarter valued at about $40,000. Schonfeld Strategic Advisors LLC purchased a new stake in Washington Prime Group in the 4th quarter valued at about $51,000. Mercer Global Advisors Inc. ADV raised its holdings in Washington Prime Group by 96.3% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 24,380 shares of the real estate investment trust’s stock valued at $89,000 after buying an additional 11,963 shares during the period. Jefferies Group LLC purchased a new stake in Washington Prime Group in the 4th quarter valued at about $107,000. Finally, ProShare Advisors LLC raised its holdings in Washington Prime Group by 16.8% in the 4th quarter. ProShare Advisors LLC now owns 30,628 shares of the real estate investment trust’s stock valued at $111,000 after buying an additional 4,412 shares during the period. Hedge funds and other institutional investors own 70.09% of the company’s stock.

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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