Washington Real Estate Investment Trust (NYSE:WRE) Declares $0.17 Quarterly Dividend

Washington Real Estate Investment Trust (NYSE:WREGet Rating) announced a quarterly dividend on Wednesday, April 27th, Zacks reports. Shareholders of record on Wednesday, June 22nd will be paid a dividend of 0.17 per share by the real estate investment trust on Wednesday, July 6th. This represents a $0.68 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Tuesday, June 21st.

Washington Real Estate Investment Trust has decreased its dividend payment by an average of 7.8% annually over the last three years. Washington Real Estate Investment Trust has a payout ratio of -251.9% 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 $0.99 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 68.7%.

WRE stock opened at $25.18 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 6.14 and a quick ratio of 6.14. The stock has a market capitalization of $2.20 billion, a P/E ratio of 132.53 and a beta of 0.87. The business has a 50-day moving average of $24.64 and a 200-day moving average of $25.11. Washington Real Estate Investment Trust has a fifty-two week low of $22.23 and a fifty-two week high of $27.05.

Several research analysts have recently weighed in on the company. Zacks Investment Research raised Washington Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Wednesday. StockNews.com assumed coverage on Washington Real Estate Investment Trust in a research report on Thursday, March 31st. They set a “sell” rating for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $27.00.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC acquired a new position in Washington Real Estate Investment Trust during the third quarter valued at approximately $211,000. Guggenheim Capital LLC acquired a new position in Washington Real Estate Investment Trust during the fourth quarter valued at approximately $224,000. LPL Financial LLC acquired a new position in Washington Real Estate Investment Trust during the third quarter valued at approximately $244,000. Squarepoint Ops LLC acquired a new position in Washington Real Estate Investment Trust during the fourth quarter valued at approximately $320,000. Finally, Jane Street Group LLC acquired a new position in Washington Real Estate Investment Trust during the third quarter valued at approximately $530,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

About Washington Real Estate Investment Trust (Get Rating)

WashREIT owns and operates uniquely positioned real estate assets in the Washington Metro area. Backed by decades of experience, expertise and ambition, we create value by transforming insights into strategy and strategy into action. As of October 29, 2020, the Company's portfolio of 45 properties includes approximately 3.7 million square feet of commercial space and 6,863 multifamily apartment units.

See Also

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

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