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 Hold with a rank of 3.The median of all the 2 Wall Street Analysts endorse the stock as a Hold with a rating of 3.
Company shares have received an average consensus rating of Hold for the current week Also, In a research note released to the investors, Goldman Sachs downgrades its rating on WP Glimcher (NYSE:WPG).The analysts at the brokerage house have a current rating of Neutral on the shares. Earlier, the shares were rated a Buy by the brokerage firm. The rating by the firm was issued on July 15, 2016.
WP Glimcher (NYSE:WPG): The stock opened at $13.6 and touched an intraday high of $13.76 on Wednesday. During the day, the stock corrected to an intraday low of $13.51, however, the bulls stepped in and pushed the price higher to close in the green at $13.69 with a gain of 0.15% for the day. The total traded volume for the day was 1,505,695. The stock had closed at $13.67 in the previous trading session.
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.