Washington Prime Group Inc. (NYSE:WPG) announced a quarterly dividend on Monday, November 6th, Wall Street Journal reports. Shareholders of record on Friday, December 1st will be given a dividend of 0.25 per share by the real estate investment trust on Friday, December 15th. This represents a $1.00 dividend on an annualized basis and a yield of 13.87%. The ex-dividend date is Thursday, November 30th.

Washington Prime Group has a payout ratio of 61.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Washington Prime Group to earn $1.59 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 62.9%.

Shares of Washington Prime Group (WPG) opened at $7.21 on Friday. The stock has a market cap of $1,352.56, a P/E ratio of 4.36 and a beta of 0.92. Washington Prime Group has a fifty-two week low of $6.71 and a fifty-two week high of $10.97. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.34.

Washington Prime Group (NYSE:WPG) last announced its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.37 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.03). Washington Prime Group had a net margin of 21.85% and a return on equity of 16.17%. The firm had revenue of $179.32 million during the quarter, compared to analysts’ expectations of $188.54 million. During the same period in the prior year, the company posted $0.46 earnings per share. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. equities analysts predict that Washington Prime Group will post 1.63 earnings per share for the current year.

A number of brokerages have commented on WPG. BidaskClub downgraded shares of Washington Prime Group from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Boenning Scattergood reissued a “hold” rating on shares of Washington Prime Group in a research report on Friday, July 28th. ValuEngine raised shares of Washington Prime Group from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, Zacks Investment Research downgraded shares of Washington Prime Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold”.

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Washington Prime Group Company Profile

Washington Prime Group Inc (WPG Inc), formerly WP Glimcher Inc, operates as a self-administered and self-managed real estate investment trust (REIT). The Company’s primary business is the ownership, development and management of retail real estate within the United States. The Company owns, develops and manages enclosed retail properties and community centers.

Dividend History for Washington Prime Group (NYSE:WPG)

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