WP Glimcher (WPG) : Analyst Rating Update

WP Glimcher (WPG) : 2 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on WP Glimcher (WPG). Zacks Investment Research suggests a Sell with a rank of 4.The median of all the 2 Wall Street Analysts endorse the stock as a Hold with a rating of 3.

WP Glimcher (NYSE:WPG): The stock opened at $11.47 on Wednesday but the bulls could not build on the opening and the stock topped out at $11.54 for the day. The stock traded down to $11.20 during the day, due to lack of any buying support eventually closed down at $11.48 with a loss of -0.17% for the day. The stock had closed at $11.50 on the previous day. The total traded volume was 4,557,658 shares.

Also, Boenning & Scattergood upgrades its rating on WP Glimcher (NYSE:WPG). Analysts at the Boenning & Scattergood have a current rating of Neutral on the shares. The shares were previously rated Underperform. The rating by the firm was issued on April 6, 2016. The company shares have dropped -18.73% from its 1 Year high price. On Jul 8, 2015, the shares registered one year high at $14.24 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $10.57 and the 200 Day Moving Average price is recorded at $9.81.

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.

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