NYSE:WPG

Stock Analysis Report

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Executive Summary

Washington Prime Group Inc. is a retail REIT and a recognized leader in the ownership, management, acquisition and development of retail properties. More Details


Snowflake Analysis

Overvalued with worrying balance sheet.


Similar Companies

Share Price & News

How has Washington Prime Group's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: WPG's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

1.6%

WPG

-1.7%

US REITs

-1.4%

US Market


1 Year Return

-85.7%

WPG

-15.9%

US REITs

17.8%

US Market

Return vs Industry: WPG underperformed the US REITs industry which returned -15.6% over the past year.

Return vs Market: WPG underperformed the US Market which returned 18.5% over the past year.


Shareholder returns

WPGIndustryMarket
7 Day1.6%-1.7%-1.4%
30 Day1.6%2.1%4.7%
90 Day-19.6%1.6%8.2%
1 Year-84.1%-85.7%-12.6%-15.9%20.5%17.8%
3 Year-87.6%-92.2%14.6%1.0%42.2%32.7%
5 Year-89.9%-94.8%38.3%10.5%83.4%62.7%

Price Volatility Vs. Market

How volatile is Washington Prime Group's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Washington Prime Group undervalued compared to its fair value and its price relative to the market?

0.24x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate WPG's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate WPG's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: WPG is unprofitable, so we can't compare its PE Ratio to the US REITs industry average.

PE vs Market: WPG is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate WPG's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: WPG is good value based on its PB Ratio (0.2x) compared to the US REITs industry average (1.4x).


Next Steps

Future Growth

How is Washington Prime Group forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

-14.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: WPG is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: WPG is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: WPG is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: WPG's revenue is expected to decline over the next 3 years (-0.7% per year).

High Growth Revenue: WPG's revenue is forecast to decline over the next 3 years (-0.7% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if WPG's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Washington Prime Group performed over the past 5 years?

8.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: WPG is currently unprofitable.

Growing Profit Margin: WPG is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: WPG is unprofitable, but has reduced losses over the past 5 years at a rate of 8.1% per year.

Accelerating Growth: Unable to compare WPG's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: WPG is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (1.6%).


Return on Equity

High ROE: WPG has a negative Return on Equity (-8.19%), as it is currently unprofitable.


Next Steps

Financial Health

How is Washington Prime Group's financial position?


Financial Position Analysis

Short Term Liabilities: WPG's short term assets ($288.8M) exceed its short term liabilities ($209.7M).

Long Term Liabilities: WPG's short term assets ($288.8M) do not cover its long term liabilities ($3.3B).


Debt to Equity History and Analysis

Debt Level: WPG's debt to equity ratio (418.7%) is considered high.

Reducing Debt: WPG's debt to equity ratio has increased from 223.6% to 418.7% over the past 5 years.

Debt Coverage: WPG's debt is not well covered by operating cash flow (3.5%).

Interest Coverage: WPG is unprofitable, therefore interest payments are not well covered by earnings.


Balance Sheet


Next Steps

Dividend

What is Washington Prime Group current dividend yield, its reliability and sustainability?

9.35%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate WPG's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate WPG's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if WPG's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if WPG's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: WPG is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of WPG's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.2yrs

Average management tenure


CEO

Lou Conforti (55 yo)

4.33yrs

Tenure

US$7,142,574

Compensation

Mr. Louis G. Conforti, also known as Lou, serves as the Chief Executive Officer of Washington Prime Group Inc. since October 6, 2016 and has been its Director since May 27, 2014 and previously served as an ...


CEO Compensation Analysis

Compensation vs Market: Lou's total compensation ($USD7.14M) is above average for companies of similar size in the US market ($USD589.00K).

Compensation vs Earnings: Lou's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Louis Conforti
CEO & Director4.33yrsUS$7.14m0.49%
$ 671.4k
Mark Yale
Executive VP & CFO5.75yrsUS$1.38m0.18%
$ 246.5k
Melissa Indest
Executive VP of Finance & Chief Accounting Officer5.75yrsUS$763.44k0.046%
$ 62.0k
Robert Demchak
Executive VP4.33yrsUS$1.14m0.080%
$ 108.7k
Joshua Lindimore
Executive VP & Head of Leasing3yrsUS$764.29k0.018%
$ 24.7k
Cheryl VanPatten
Senior VP & Chief Information Officer5yrsno datano data
Kimberly A. Green
Vice President of Investor Relations & Corporate Communicationsno datano datano data
Pagle Helterbrand
Senior VP & Chief Human Resource Officer4.08yrsno datano data
Lauren Kelly
Senior Vice President3yrsno datano data
Amy Jonas
Senior Vice Presidentno datano datano data
Kurt Palmer
Senior Vice President3yrsno datano data
Jennifer Moretti
Senior VP & Chief Activation Officer1.75yrsno datano data

4.2yrs

Average Tenure

54yo

Average Age

Experienced Management: WPG's management team is considered experienced (4.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Louis Conforti
CEO & Director4.33yrsUS$7.14m0.49%
$ 671.4k
John Dillon
Independent Director4.33yrsUS$230.00k0%
$ 0
Robert Laikin
Independent Non-Executive Chairman of the Board4.33yrsUS$450.00k0.16%
$ 210.9k
Sheryl von Blucher
Independent Director4.17yrsUS$230.00k0.013%
$ 18.1k
J. Birge
Independent Director3.42yrsUS$230.00k0.015%
$ 20.5k
Jacquelyn Soffer
Independent Director6.42yrsUS$230.00k0.053%
$ 72.5k
John Levy
Independent Director4.33yrsUS$230.00kno data

4.3yrs

Average Tenure

57yo

Average Age

Experienced Board: WPG's board of directors are considered experienced (4.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Washington Prime Group Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Washington Prime Group Inc.
  • Ticker: WPG
  • Exchange: NYSE
  • Founded: 2014
  • Industry: Retail REITs
  • Sector: Real Estate
  • Implied Market Cap: US$135.899m
  • Market Cap: US$116.208m
  • Shares outstanding: 221.91m
  • Website: https://www.washingtonprime.com

Number of Employees


Location

  • Washington Prime Group Inc.
  • 180 East Broad Street
  • Columbus
  • Ohio
  • 43215
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
WPGNYSE (New York Stock Exchange)YesCommon StockUSUSDMay 2014
W02DB (Deutsche Boerse AG)YesCommon StockDEEURMay 2014
0LTALSE (London Stock Exchange)YesCommon StockGBUSDMay 2014
WPG.PRHNYSE (New York Stock Exchange)7.5% CM PFD HUSUSDJan 2015
WPG.PRINYSE (New York Stock Exchange)6.875 PFD SER IUSUSDJan 2015

Biography

Washington Prime Group Inc. is a retail REIT and a recognized leader in the ownership, management, acquisition and development of retail properties. The Company combines a national real estate portfolio wi ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/22 01:14
End of Day Share Price2020/10/21 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.