WP Glimcher (NYSE:WPG) has tumbled 8.34% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 8.78% in the last four weeks. The stocks have underperformed the S&P 500 by 7.24% during the past week but WP Glimcher (NYSE:WPG) it has outperformed the index in 4 weeks by 7.78%.
WP Glimcher (NYSE:WPG): The stock opened at $10.62 on Friday but the bulls could not build on the opening and the stock topped out at $10.81 for the day. The stock traded down to $10.47 during the day, due to lack of any buying support eventually closed down at $10.66 with a loss of -0.19% for the day. The stock had closed at $10.68 on the previous day. The total traded volume was 2,500,935 shares.
The company shares have dropped -24.56% from its 1 Year high price. On Jun 22, 2015, the shares registered one year high at $14.36 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $10.50 and the 200 Day Moving Average price is recorded at $9.76.
On the companys insider trading activities, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (CAO and SVP, Finance) of Wp Glimcher Inc., Indest Melissa A., had purchased 5,000 shares in a transaction dated on August 10, 2015. The transaction was executed at $13.05 per share with total amount equaling $65,250.
Many analysts have stated their opinion on the company shares. Equity Analysts at the Boenning & Scattergood upgrades the rating on WP Glimcher (NYSE:WPG). The brokerage firm has issued a Neutral rating on the shares. The shares were previously rated Underperform. The rating by the firm was issued on April 6, 2016. Currently the company Insiders own 3.3% of WP Glimcher shares according to the proxy statements. Institutional Investors own 90.45% of WP Glimcher shares.
WP Glimcher Inc. is a self-administered and self-managed real estate investment trust (REIT). The Company is engaged in ownership, development and management of retail real estate. Washington Prime Group, L.P. (WPG L.P.) is the Companys majority owned partnership subsidiary that owns, through its affiliates, all of the Companys real estate properties and other assets. As of December 31, 2014, the Companys assets consisted of interests in 97 shopping centers in the United States, consisting of strip centers and malls. The Companys properties are leased to various tenants across the retail, including anchor stores, big-box tenants, national inline tenants, sitdown restaurants, movie theatres and regional and local retailers. The Companys properties include Anderson Mall; Chautauqua Mall; Edison Mall; Forest Mall; Gulf View Square; Lincolnwood Town Center; Mesa Mall; Valle Vista Mall, and Westminster Mall, among others.