Washington Real Estate Investment Trust (WRE) To Go Ex-Dividend on September 18th

Washington Real Estate Investment Trust (NYSE:WRE) announced a quarterly dividend on Tuesday, July 28th, Zacks reports. Shareholders of record on Monday, September 21st will be paid 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 5.37%. The ex-dividend date of this dividend is Friday, September 18th.

Washington Real Estate Investment Trust has a payout ratio of -272.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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%.

Shares of WRE stock traded down $0.16 during trading on Thursday, hitting $22.33. The company’s stock had a trading volume of 5,939 shares, compared to its average volume of 389,850. The company has a market cap of $1.82 billion, a PE ratio of 4.69 and a beta of 0.80. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.84. The business has a fifty day moving average of $22.35 and a 200-day moving average of $24.77. Washington Real Estate Investment Trust has a 52 week low of $18.01 and a 52 week high of $32.22.

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

Several equities analysts have recently issued reports on WRE shares. JPMorgan Chase & Co. raised Washington Real Estate Investment Trust from an “underweight” rating to a “neutral” rating and upped their target price for the company from $22.00 to $24.00 in a report on Thursday, July 2nd. Stifel Nicolaus dropped their price objective on Washington Real Estate Investment Trust from $25.00 to $23.00 and set a “hold” rating on the stock in a research note on Tuesday, June 30th. Raymond James dropped their price objective on Washington Real Estate Investment Trust from $28.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 15th. Finally, Zacks Investment Research downgraded Washington Real Estate Investment Trust from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th.

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: Secondary Public Offerings

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

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