WP Glimcher (WPG) : Traders are bullish on WP Glimcher (WPG) as it has outperformed the S&P 500 by a wide margin of 8.57% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.08%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.01% in the last 1 week, and is up 12.21% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 4.14% and the 50-Day Moving Average is 13.84%. WP GLIMCHER Inc. is up 23.91% in the last 3-month period. Year-to-Date the stock performance stands at 25.84%.
WP Glimcher (NYSE:WPG): stock turned positive on Friday. Though the stock opened at $12.4, the bulls momentum made the stock top out at $12.75 level for the day. The stock recorded a low of $12.38 and closed the trading day at $12.68, in the green by 2.18%. The total traded volume for the day was 2,595,389. The stock had closed at $12.41 in the previous days trading.
Also, Goldman Sachs downgrades its rating on WP Glimcher (NYSE:WPG). Analysts at the Goldman Sachs have a current rating of Neutral on the shares. The shares were previously rated Buy. The rating by the firm was issued on July 15, 2016.
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.