Washington Real Estate Investment Trust (NYSE:WRE) Plans $0.30 Quarterly Dividend

Washington Real Estate Investment Trust (NYSE:WRE) declared a quarterly dividend on Tuesday, July 28th, Zacks reports. Investors of record on Monday, September 21st will be given a dividend of 0.30 per share by the real estate investment trust on Monday, October 5th. This represents a $1.20 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date is Friday, September 18th.

Washington Real Estate Investment Trust has a payout ratio of -272.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Washington Real Estate Investment Trust to earn $1.51 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 79.5%.

NYSE:WRE traded down $0.17 during mid-day trading on Thursday, reaching $22.32. The stock had a trading volume of 5,824 shares, compared to its average volume of 389,850. The business’s 50 day moving average is $22.35 and its 200 day moving average is $24.77. Washington Real Estate Investment Trust has a fifty-two week low of $18.01 and a fifty-two week high of $32.22. The stock has a market cap of $1.82 billion, a P/E ratio of 4.69 and a beta of 0.80. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.87 and a quick ratio of 0.87.

Washington Real Estate Investment Trust (NYSE:WRE) last released its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.44). Washington Real Estate Investment Trust had a return on equity of 3.08% and a net margin of 123.40%. The firm had revenue of $72.80 million during the quarter, compared to analyst estimates of $73.27 million. During the same quarter in the prior year, the company posted $0.47 EPS. The company’s quarterly revenue was down 5.2% on a year-over-year basis. Equities analysts expect that Washington Real Estate Investment Trust will post 1.48 EPS for the current year.

Several brokerages have commented on WRE. JPMorgan Chase & Co. upgraded Washington Real Estate Investment Trust from an “underweight” rating to a “neutral” rating and increased their price target for the company from $22.00 to $24.00 in a report on Thursday, July 2nd. Zacks Investment Research downgraded Washington Real Estate Investment Trust from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Stifel Nicolaus lowered their price target on Washington Real Estate Investment Trust from $25.00 to $23.00 and set a “hold” rating on the stock in a report on Tuesday, June 30th. Finally, Raymond James lowered their price target on Washington Real Estate Investment Trust from $28.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, July 15th.

Washington Real Estate Investment Trust Company Profile

Washington REIT owns and operates uniquely positioned real estate assets in the Washington DC market. Backed by decades of experience, expertise and ambition, we create value by transforming insights into strategy and strategy into action. Our portfolio of 48 properties includes approximately 6.1 million square feet of commercial space and 4,268 multifamily apartment units.

Further Reading: Why Dividend Stocks May Be Right for You

Dividend History for Washington Real Estate Investment Trust (NYSE:WRE)

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