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Stock Market & Financial Investment News

News Breaks
June 16, 2014
17:03 EDTWPGWashington Prime Group to acquire partners interest in property portfolio
Washington Prime Group announced that it has entered into a definitive agreement to acquire its partner's interest in a portfolio of seven open-air shopping centers. The transaction is expected to close later this week. Previously, Washington Prime held between 32%-42% legal ownership interests in the properties, but received substantially less economic benefit due to the partner's preferred capital allocation. With this transaction, Washington Prime will own 100% of four properties and approximately 88.3% of the remaining three. The purchase price for the properties totaled approximately $162M plus the assumption of an additional $83.8M in mortgage debt. The portfolio of properties totals over 2.1M square feet and is approximately 96% occupied. Four of the centers are located in Florida, and one each in Indiana, Connecticut and Virginia. Also included in this transaction is land valued at approximately $4M.
News For WPG From The Last 14 Days
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January 27, 2016
10:00 EDTWPGOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Arista Networks (ANET) initiated with a Buy at Citi... Brocade (BRCD) initiated with a Neutral at Citi... CBL & Associates (CBL) initiated with an Underperform at Boenning & Scattergood... Caleres (CAL) initiated with a Hold at BB&T... Ciena (CIEN) initiated with a Neutral at Citi... Fitbit (FIT) initiated with a Buy, $35 target at Citi... Genesco (GCO) initiated with a Hold at BB&T... Infinera (INFN) initiated with a Buy at Citi... Nabriva Therapeutics (NBRV) initiated with a Buy at Gabelli... SanDisk (SNDK) initiated with a Buy at Citi... Seagate (STX) initiated with a Sell at Citi... Tanger Factory (SKT) initiated with an Underperform at Boenning & Scattergood... Taubman Centers (TCO) initiated with a Neutral at Boenning & Scattergood... WP Glimcher (WPG) initiated with an Underperform at Boenning & Scattergood... Western Digital (WDC) initiated with a Buy at Citi... Yirendai (YRD) initiated with a Buy at Needham.
07:23 EDTWPGWP Glimcher initiated with an Underperform at Boenning & Scattergood
Target $8.50.

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