Washington Prime Group Inc. (NYSE:WPG) announced a quarterly dividend on Monday, August 7th, Wall Street Journal reports. Stockholders of record on Friday, September 1st will be given a dividend of 0.25 per share by the real estate investment trust on Friday, September 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.78%. The ex-dividend date is Wednesday, August 30th.

Washington Prime Group has a payout ratio of 60.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Washington Prime Group to earn $0.33 per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of 303.0%.

Washington Prime Group (NYSE WPG) traded up 1.98% during midday trading on Monday, hitting $9.28. 1,750,046 shares of the stock were exchanged. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 10.09 and a beta of 0.95. Washington Prime Group has a one year low of $7.31 and a one year high of $14.15. The company has a 50 day moving average price of $8.57 and a 200 day moving average price of $8.72.

Washington Prime Group (NYSE:WPG) last released its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.06. Washington Prime Group had a net margin of 22.65% and a return on equity of 17.36%. The business had revenue of $189.17 million for the quarter, compared to analyst estimates of $197.69 million. During the same quarter last year, the firm earned $0.45 EPS. Washington Prime Group’s quarterly revenue was down 8.1% compared to the same quarter last year. Equities analysts anticipate that Washington Prime Group will post $1.05 EPS for the current year.

WPG has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Washington Prime Group from a “hold” rating to a “buy” rating and set a $9.25 price objective on the stock in a research note on Wednesday, May 10th. BidaskClub raised shares of Washington Prime Group from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. TheStreet raised shares of Washington Prime Group from a “d+” rating to a “c” rating in a research note on Wednesday, July 26th. Boenning Scattergood reaffirmed a “hold” rating on shares of Washington Prime Group in a research note on Friday, July 28th. Finally, ValuEngine lowered shares of Washington Prime Group from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $9.25.

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About Washington Prime Group

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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