Revenue Update on WP Glimcher Inc(NYSE:WPG)

WP Glimcher Inc(NYSE:WPG) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 3, 2016. Earnings per share were $0.43.

In a different note, On Jul 15, 2016, Goldman Sachs said it Downgrades its rating on WP Glimcher Inc. The shares have been rated ‘Neutral’ by the firm.

WP Glimcher Inc (WPG) shares turned negative on Fridays trading session with the shares closing down -0.05 points or -0.39% at a volume of 15,04,158. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $13.16. The peak price level was also seen at $13.16 while the days lowest was $12.86. Finally the shares closed at $12.92. The 52-week high of the shares is $13.75 while the 52-week low is $7.41. According to the latest information available, the market cap of the company is $2,395 M.

Several Insider Transactions has been reported to the SEC. On Aug 11, 2015, Melissa A. Indest (CAO and SVP, Finance) purchased 5,000 shares at $13.05 per share price.Also, 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.

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