WP Glimcher Inc (WPG) is Downgraded by Goldman to Neutral

WP Glimcher Inc (WPG) was Downgraded by Goldman to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Goldman advised their investors in a research report released on Jul 15, 2016.

On the company’s financial health, WP Glimcher Inc reported $0.42 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on May 4, 2016. Analyst had a consensus of $0.44. The company had revenue of $210.03 million for the quarter, compared to analysts expectations of $224.41 million. The company’s revenue was down -11.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.47 EPS.

WP Glimcher Inc opened for trading at $12.36 and hit $12.535 on the upside on Wednesday, eventually ending the session at $12.32, with a gain of 0.24% or 0.03 points. The heightened volatility saw the trading volume jump to 24,52,895 shares. Company has a market cap of $2,283 M.

In a different news, on Aug 11, 2015, Melissa A. Indest (CAO and SVP, Finance) purchased 5,000 shares at $13.05 per share price. According to the SEC, on Jun 30, 2015, Niles C Overly (director) purchased 10,000 shares at $13.61 per share price. On Jun 23, 2015, Marvin L White (director) purchased 5,000 shares at $14.25 per share price, according to the Form-4 filing with the securities and exchange commission.

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 Company’s majority owned partnership subsidiary that owns through its affiliates all of the Company’s real estate properties and other assets. As of December 31 2014 the Company’s assets consisted of interests in 97 shopping centers in the United States consisting of strip centers and malls. The Company’s 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 Company’s 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.

WP Glimcher Inc

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