Washington Prime Group (WPG) Falls: Stock Declines 6.6%
Washington Prime Group Inc. (WPG) saw a big move last session, as the company’s shares fell by nearly 7% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the most recent downtrend for WPG, as the stock is now down nearly 12% in the past one-month time frame.
Although this slump was obviously disappointing, the company has seen 1 positive revision and its current year earnings consensus has moved higher over the past few weeks. This suggests that the recent slump might be a temporary blip on the radar for WPG. So make sure to keep an eye on this stock going forward to see if yesterday’s price decline is confirmed by more weakness, or if it can rebound in the weeks ahead.
WPG currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.0%.
Some better-ranked stocks in the REIT-EQTY TRUST industry include Cedar Realty Trust, Inc. (CDR), Regency Centers Corporation (REG) and Rouse Properties, Inc. (RSE). All these stocks carry a Zacks Rank #2 (Buy).
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WASHINGTON PRIME GROUP INC (WPG): Free Stock Analysis Report
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