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Washington Real Estate Investment Trust

NYSE:WRE
Snowflake Description

Proven track record average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
WRE
NYSE
$2B
Imp Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Washington REIT owns and operates uniquely positioned real estate assets in the Washington D.C. The last earnings update was 4 days ago. More info.


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WRE Share Price and Events
7 Day Returns
3.9%
NYSE:WRE
0.3%
US REITs
1.2%
US Market
1 Year Returns
0.8%
NYSE:WRE
13.4%
US REITs
0.9%
US Market
WRE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Washington Real Estate Investment Trust (WRE) 3.9% 10.8% -6.1% 0.8% 2.6% 12.2%
US REITs 0.3% 7.6% 4.8% 13.4% 20% 27%
US Market 1.2% 6.6% 1.2% 0.9% 44.3% 41.3%
1 Year Return vs Industry and Market
  • WRE underperformed the REITs industry which returned 13.4% over the past year.
Price Volatility
WRE
Industry
5yr Volatility vs Market

WRE Value

 Is Washington Real Estate Investment Trust undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Washington Real Estate Investment Trust to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Washington Real Estate Investment Trust.

NYSE:WRE Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.6%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:WRE
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 7.3%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.55
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.551 (1 + (1- 21%) (58%))
0.804
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.804 * 7.27%)
8.57%

Discounted Cash Flow Calculation for NYSE:WRE using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for Washington Real Estate Investment Trust is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

Washington Real Estate Investment Trust is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

NYSE:WRE DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Adjusted Funds From Operations (AFFO) (USD, Millions) 115.89 115.38 121.37 131.67 142.03
Source Analyst x3 Analyst x3 Analyst x1 Analyst x1 Analyst x1
Present Value
Discounted (@ 8.57%)
106.74 97.88 94.82 94.75 94.14
Present value of next 5 years cash flows $488.33
NYSE:WRE DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= $142.03 × (1 + 2.73%) ÷ (8.57% – 2.73%)
$2,496.74
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= $2,496.74 ÷ (1 + 8.57%)5
$1,654.79
NYSE:WRE Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= $488.33 + $1,654.79
$2,143.12
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $2,143.12 / 79.92
$26.82
NYSE:WRE Discount to Share Price
Calculation Result
Value per share (USD) From above. $26.82
Current discount Discount to share price of $26.82
= -1 x ($26.82 - $26.82) / $26.82
-0%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Washington Real Estate Investment Trust is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Washington Real Estate Investment Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Washington Real Estate Investment Trust's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:WRE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $0.32
NYSE:WRE Share Price ** NYSE (2019-02-15) in USD $26.82
United States of America REITs Industry PE Ratio Median Figure of 154 Publicly-Listed REITs Companies 33.11x
United States of America Market PE Ratio Median Figure of 3,045 Publicly-Listed Companies 16.97x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Washington Real Estate Investment Trust.

NYSE:WRE PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:WRE Share Price ÷ EPS (both in USD)

= 26.82 ÷ 0.32

82.63x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Washington Real Estate Investment Trust is overvalued based on earnings compared to the US REITs industry average.
  • Washington Real Estate Investment Trust is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Washington Real Estate Investment Trust's expected growth come at a high price?
Raw Data
NYSE:WRE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 82.63x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
21%per year
United States of America REITs Industry PEG Ratio Median Figure of 139 Publicly-Listed REITs Companies 0.88x
United States of America Market PEG Ratio Median Figure of 2,115 Publicly-Listed Companies 1.36x

*Line of best fit is calculated by linear regression .

NYSE:WRE PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 82.63x ÷ 21%

3.94x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Washington Real Estate Investment Trust is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Washington Real Estate Investment Trust's assets?
Raw Data
NYSE:WRE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $13.37
NYSE:WRE Share Price * NYSE (2019-02-15) in USD $26.82
United States of America REITs Industry PB Ratio Median Figure of 192 Publicly-Listed REITs Companies 1.74x
United States of America Market PB Ratio Median Figure of 5,122 Publicly-Listed Companies 1.82x
NYSE:WRE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:WRE Share Price ÷ Book Value per Share (both in USD)

= 26.82 ÷ 13.37

2.01x

* Primary Listing of Washington Real Estate Investment Trust.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Washington Real Estate Investment Trust is overvalued based on assets compared to the US REITs industry average.
X
Value checks
We assess Washington Real Estate Investment Trust's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Washington Real Estate Investment Trust has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

WRE Future Performance

 How is Washington Real Estate Investment Trust expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
21%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Washington Real Estate Investment Trust expected to grow at an attractive rate?
  • Washington Real Estate Investment Trust's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Washington Real Estate Investment Trust's earnings growth is expected to exceed the United States of America market average.
  • Washington Real Estate Investment Trust's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:WRE Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:WRE Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 21%
NYSE:WRE Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 0.6%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 1%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:WRE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:WRE Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 347 69 1
2022-12-31 344 60 1
2021-12-31 339 45 1
2020-12-31 341 27 5
2019-12-31 329 20 2
NYSE:WRE Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 337 26
2018-09-30 335 138 22
2018-06-30 336 136 19
2018-03-31 332 137 16
2017-12-31 325 131 19
2017-09-30 321 123 23
2017-06-30 318 119 99
2017-03-31 314 113 123
2016-12-31 313 115 119
2016-09-30 315 119 176
2016-06-30 314 116 97
2016-03-31 309 106 62

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Washington Real Estate Investment Trust's earnings are expected to grow significantly at over 20% yearly.
  • Washington Real Estate Investment Trust's revenue is expected to grow by 0.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:WRE Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Washington Real Estate Investment Trust Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:WRE Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31 0.30 0.30 0.30 1.00
2019-12-31 0.25 0.25 0.25 1.00
NYSE:WRE Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 0.32
2018-09-30 0.28
2018-06-30 0.24
2018-03-31 0.20
2017-12-31 0.25
2017-09-30 0.30
2017-06-30 1.32
2017-03-31 1.67
2016-12-31 1.65
2016-09-30 2.49
2016-06-30 1.40
2016-03-31 0.91

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Washington Real Estate Investment Trust is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Washington Real Estate Investment Trust's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Washington Real Estate Investment Trust has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

WRE Past Performance

  How has Washington Real Estate Investment Trust performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Washington Real Estate Investment Trust's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Washington Real Estate Investment Trust's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Washington Real Estate Investment Trust's 1-year earnings growth exceeds its 5-year average (32.8% vs 16.7%)
  • Washington Real Estate Investment Trust's earnings growth has exceeded the US REITs industry average in the past year (32.8% vs 17.3%).
Earnings and Revenue History
Washington Real Estate Investment Trust's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Washington Real Estate Investment Trust Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:WRE Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 336.89 25.63 22.09
2018-09-30 335.29 21.78 22.61
2018-06-30 335.61 18.75 22.67
2018-03-31 332.46 15.91 22.78
2017-12-31 325.08 19.31 22.58
2017-09-30 320.73 22.50 21.24
2017-06-30 317.68 99.28 20.45
2017-03-31 313.63 123.29 19.66
2016-12-31 313.26 119.03 19.55
2016-09-30 315.41 175.61 19.87
2016-06-30 313.89 96.74 20.24
2016-03-31 308.71 62.37 19.55
2015-12-31 306.43 89.47 20.12
2015-09-30 301.68 29.76 21.25
2015-06-30 296.85 32.77 20.86
2015-03-31 294.88 36.75 21.41
2014-12-31 288.64 4.79 19.64
2014-09-30 281.00 -1.89 19.60
2014-06-30 273.41 -3.93 18.93
2014-03-31 267.08 -3.91 18.10
2013-12-31 263.02 -0.61 17.54
2013-09-30 260.96 4.02 16.26
2013-06-30 259.61 4.90 15.59
2013-03-31 244.14 3.28 15.74
2012-12-31 254.79 7.19 15.49
2012-09-30 265.55 -4.61 15.08
2012-06-30 271.63 -5.23 15.75
2012-03-31 290.17 -1.51 15.63

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Washington Real Estate Investment Trust has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Washington Real Estate Investment Trust used its assets less efficiently than the US REITs industry average last year based on Return on Assets.
  • Washington Real Estate Investment Trust has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Washington Real Estate Investment Trust's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Washington Real Estate Investment Trust has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

WRE Health

 How is Washington Real Estate Investment Trust's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Washington Real Estate Investment Trust's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Washington Real Estate Investment Trust is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Washington Real Estate Investment Trust's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Washington Real Estate Investment Trust's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Washington Real Estate Investment Trust Company Filings, last reported 1 month ago.

NYSE:WRE Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,068.48 1,243.19 6.02
2018-09-30 1,093.71 1,238.67 21.99
2018-06-30 1,072.63 1,256.85 21.66
2018-03-31 1,080.76 1,348.55 25.13
2017-12-31 1,095.34 1,155.50 19.27
2017-09-30 1,118.19 1,179.15 18.17
2017-06-30 1,087.71 1,218.70 20.09
2017-03-31 1,068.24 1,114.24 23.56
2016-12-31 1,052.06 1,111.62 18.92
2016-09-30 1,056.46 1,125.17 8.59
2016-06-30 968.11 1,270.42 22.38
2016-03-31 815.43 1,296.55 23.58
2015-12-31 837.01 1,266.78 23.83
2015-09-30 792.58 1,364.12 21.01
2015-06-30 814.93 1,202.20 22.78
2015-03-31 837.84 1,196.59 40.03
2014-12-31 822.23 1,210.34 15.83
2014-09-30 808.98 1,165.41 8.57
2014-06-30 824.64 1,153.93 23.01
2014-03-31 844.09 1,151.19 62.08
2013-12-31 759.45 1,141.37 130.34
2013-09-30 758.16 1,222.41 7.92
2013-06-30 771.23 1,233.66 5.92
2013-03-31 784.83 1,228.72 16.74
2012-12-31 796.14 1,225.22 19.11
2012-09-30 811.06 1,304.57 68.40
2012-06-30 820.22 1,253.92 14.37
2012-03-31 841.72 1,193.05 17.81
  • Washington Real Estate Investment Trust's level of debt (116.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (150.1% vs 116.4% today).
  • Debt is not well covered by operating cash flow (11.1%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.5x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Washington Real Estate Investment Trust's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Washington Real Estate Investment Trust has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

WRE Dividends

 What is Washington Real Estate Investment Trust's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.47%
Current annual income from Washington Real Estate Investment Trust dividends. Estimated to be 4.52% next year.
If you bought $2,000 of Washington Real Estate Investment Trust shares you are expected to receive $89 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Washington Real Estate Investment Trust's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.43%).
  • Washington Real Estate Investment Trust's dividend is above the markets top 25% of dividend payers in United States of America (3.59%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:WRE Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 185 Stocks 4%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1998 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:WRE Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 1.20 1.00
2022-12-31 1.20 1.00
2021-12-31 1.20 1.00
2020-12-31 1.22 6.00
2019-12-31 1.21 6.00
NYSE:WRE Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-14 1.200 4.550
2018-10-29 1.200 4.651
2018-10-25 1.200 4.203
2018-04-25 1.200 4.027
2018-02-20 1.200 4.480
2018-02-15 1.200 4.538
2017-07-27 1.200 3.811
2017-04-26 1.200 3.745
2017-02-21 1.200 3.775
2017-02-16 1.200 3.647
2016-11-02 1.200 3.819
2016-10-27 1.200 4.160
2016-08-01 1.200 3.809
2016-07-27 1.200 3.537
2016-04-28 1.200 3.948
2016-04-27 1.200 4.090
2016-02-26 1.200 4.245
2016-02-19 1.200 4.634
2015-11-04 1.200 4.557
2015-10-22 1.200 4.412
2015-08-05 1.200 4.678
2015-07-23 1.200 4.523
2015-05-05 1.200 4.666
2015-04-24 1.200 4.758
2014-10-22 1.200 4.338
2014-07-24 1.200 4.484
2014-04-24 1.200 4.707
2014-02-18 1.200 4.963
2013-10-23 1.200 5.055
2013-07-24 1.200 4.701
2013-04-25 1.200 4.314
2013-02-13 1.200 4.295
2012-10-25 1.200 4.526
2012-07-26 1.200 4.462
2012-04-25 1.735 6.087
2012-02-15 1.735 5.879
2011-10-27 1.735 6.159
2011-07-28 1.735 5.941
2011-04-28 1.735 5.323
2011-02-17 1.735 5.698
2010-10-27 1.735 5.620
2010-07-29 1.730 5.466
2010-04-29 1.730 5.957
2010-02-18 1.730 5.759
2009-10-22 1.730 6.397
2009-07-23 1.730 6.352
2009-04-27 1.730 7.920
2009-02-19 1.730 9.430

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Washington Real Estate Investment Trust's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (133.9x coverage).
X
Income/ dividend checks
We assess Washington Real Estate Investment Trust's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Washington Real Estate Investment Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Washington Real Estate Investment Trust has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

WRE Management

 What is the CEO of Washington Real Estate Investment Trust's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Paul McDermott
COMPENSATION $6,895,784
AGE 56
TENURE AS CEO 5.3 years
CEO Bio

Mr. Paul T. McDermott serves as the Chief Executive Officer, President and Trustee at Washington Real Estate Investment Trust since October 1, 2013 and has been its Chairman of Board since May 31, 2018. Previously, Mr. McDermott served as Senior Vice President, Managing Director and Head of Acquisitions at Rockefeller Group Investment Management Inc., since 2010. He served as Senior Vice President, Managing Director, Portfolio Manager and Head of Acquisitions at Rockefeller Group International, Inc. Mr. McDermott's responsibilities also included product development and portfolio strategy, as well as interfacing with private equity clients. Prior to joining the firm, he served from 2006 to 2010 as Principal and Chief Transaction Officer at PNC Realty Investors, where he led the acquisition, disposition, development and capital markets efforts nationally, across multiple asset classes. Mr. McDermott served as Chief Credit Officer and Vice President of Risk Management at Federal Home Loan Mortgage Corporation since April 2002 and its Vice President of Structured and Affordable Sourcing for Multifamily Sourcing Division from February 1, 2005 to 2010. Previously, he was a Principal with Lend Lease Real Estate Investments, where he served as head of the Washington region from 1997 to 2002. From 1986 to 1999, Mr. McDermott served as Executive Vice President and Chief Operating Officer at Acacia Realty Corporation. He received an M.B.A. in Finance from the American University and a Bachelor's Degree in Business Administration from Shepherd College.

CEO Compensation
  • Paul's compensation has increased by more than 20% in the past year.
  • Paul's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Washington Real Estate Investment Trust management team in years:

3.9
Average Tenure
56
Average Age
  • The tenure for the Washington Real Estate Investment Trust management team is about average.
Management Team

Paul McDermott

TITLE
Chairman of Board
COMPENSATION
$7M
AGE
56
TENURE
5.3 yrs

Steve Riffee

TITLE
Executive VP & CFO
COMPENSATION
$2M
AGE
60
TENURE
4 yrs

Tom Bakke

TITLE
Executive VP & COO
COMPENSATION
$2M
AGE
63
TENURE
4.8 yrs

Taryn Fielder

TITLE
Senior VP
COMPENSATION
$826K
AGE
40
TENURE
1.9 yrs

Anthony Chang

TITLE
Vice President of Asset Management
COMPENSATION
$156K

Andrew Leahy

TITLE
Vice President of Investments
TENURE
4.3 yrs

Wade Hammond

TITLE
VP, Chief Accounting Officer & Treasurer
AGE
43
TENURE
3.6 yrs

Susan Gerock

TITLE
Chief Information Officer & VP of Information Technology
TENURE
2.8 yrs

Tejal Engman

TITLE
Vice President
TENURE
3.9 yrs

Deanna Schmidt

TITLE
Senior Director of Marketing & Corporate Communications
TENURE
1.4 yrs
Board of Directors Tenure

Average tenure and age of the Washington Real Estate Investment Trust board of directors in years:

4.3
Average Tenure
63.5
Average Age
  • The tenure for the Washington Real Estate Investment Trust board of directors is about average.
Board of Directors

Paul McDermott

TITLE
Chairman of Board
COMPENSATION
$7M
AGE
56
TENURE
0.8 yrs

Anthony Winns

TITLE
COMPENSATION
$156K
AGE
62
TENURE
7.6 yrs

Ben Butcher

TITLE
COMPENSATION
$149K
AGE
65
TENURE
4.6 yrs

Tom Nolan

TITLE
COMPENSATION
$154K
AGE
60
TENURE
4.1 yrs

Ellen Goitia

TITLE
COMPENSATION
$79K
AGE
58
TENURE
1.7 yrs

Tuck Nason

TITLE
Lead Independent Trustee
COMPENSATION
$237K
AGE
71
TENURE
0.8 yrs

Ed Civera

TITLE
COMPENSATION
$166K
AGE
67
TENURE
12.6 yrs

Bill Byrnes

TITLE
COMPENSATION
$165K
AGE
67
TENURE
8.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Washington Real Estate Investment Trust's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Washington Real Estate Investment Trust has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

WRE News

Simply Wall St News

You May Have Been Looking At Washington Real Estate Investment Trust (NYSE:WRE) All Wrong

Washington Real Estate Investment Trust is a US$2.1b. … real estate investment trust (REIT) based in Washington, United States. … See our latest analysis for Washington Real Estate Investment Trust

Simply Wall St -

What Kind Of Shareholder Appears On The Washington Real Estate Investment Trust's (NYSE:WRE) Shareholder Register?

If you want to know who really controls Washington Real Estate Investment Trust (NYSE:WRE), then you'll have to look at the makeup of its share registry. … Washington Real Estate Investment Trust has a market capitalization of US$1.9b, so we would expect some institutional investors to have noticed the stock. … institutional investors have bought into the company.

Simply Wall St -

What Kind Of Share Price Volatility Should You Expect For Washington Real Estate Investment Trust (NYSE:WRE)?

Some stocks mimic the volatility of the market quite closely, while others demonstrate muted, exagerrated or uncorrelated price movements. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … Any stock with a beta of greater than one is considered more volatile than the market, while those with a beta below one are either less volatile or poorly correlated with the market.

Simply Wall St -

Why Washington Real Estate Investment Trust (NYSE:WRE) Could Be Worth Watching

Washington Real Estate Investment Trust (NYSE:WRE), which is in the reits business, and is based in United States,. … A question to answer is whether Washington Real Estate Investment Trust's current trading price of $26.52 reflective of the actual value of the? … Let’s take a look at Washington Real Estate Investment Trust’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Should You Worry About Washington Real Estate Investment Trust's (NYSE:WRE) CEO Pay Check?

Paul McDermott became the CEO of Washington Real Estate Investment Trust (NYSE:WRE) in 2013. … See our latest analysis for Washington Real Estate Investment Trust? … Our data indicates that Washington Real Estate Investment Trust is worth US$2.3b, and total annual CEO compensation is US$7m.

Simply Wall St -

How Should You Analyze REIT Stock Washington Real Estate Investment Trust (NYSE:WRE)?

Washington Real Estate Investment Trust is a US$2.2b. … real estate investment trust (REIT) based in Washington, United States. … View our latest analysis for Washington Real Estate Investment Trust

Simply Wall St -

The Washington Real Estate Investment Trust (NYSE:WRE) Ownership Structure Could Be Important

Every investor in Washington Real Estate Investment Trust (NYSE:WRE) should be aware of the most powerful shareholder groups. … Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … Washington Real Estate Investment Trust isn't enormous, but it's not particularly small either.

Simply Wall St -

Should You Buy Washington Real Estate Investment Trust (NYSE:WRE) Now?

Washington Real Estate Investment Trust (NYSE:WRE), a reits company based in United States,. … A question to answer is whether Washington Real Estate Investment Trust's current trading price of $29.68 reflective of the actual value of the? … Let’s take a look at Washington Real Estate Investment Trust’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Is Washington Real Estate Investment Trust (NYSE:WRE) Undervalued After Accounting For Its Future Growth?

Looking at Washington Real Estate Investment Trust’s (NYSE:WRE) fundamentals some investors are wondering if its last closing price of $29.8 represents a good value for money for this high growth stock. … See our latest analysis for Washington Real Estate Investment Trust? … If you are bullish about Washington Real Estate Investment Trust's growth potential then you are certainly not alone

Simply Wall St -

Investing In Washington Real Estate Investment Trust (NYSE:WRE): What You Need To Know

Washington Real Estate Investment Trust is a US$2.30b. … real estate investment trust (REIT) based in Washington, United States. … See our latest analysis for Washington Real Estate Investment Trust

Simply Wall St -

WRE Company Info

Map
Description

Washington REIT owns and operates uniquely positioned real estate assets in the Washington D.C. market. The Company’s portfolio of 48 properties consists of approximately 6.1 million square feet of commercial space and 4,268 multifamily apartment units. These 48 properties consist of 19 office properties, 16 retail centers and 13 multifamily properties. Washington REIT shares are publicly traded on the New York Stock Exchange (NYSE:WRE).

Details
Name: Washington Real Estate Investment Trust
WRE
Exchange: NYSE
Founded: 1960
$2,143,511,366
$2,143,186,200
79,922,124
Website: http://www.washreit.com
Address: Washington Real Estate Investment Trust
1775 Eye Street, NW,
Suite 1000,
Washington,
District Of Columbia, 20006,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE WRE Common Stock New York Stock Exchange US USD 07. May 1971
DB WRI Common Stock Deutsche Boerse AG DE EUR 07. May 1971
Number of employees
Current staff
Staff numbers
149
Washington Real Estate Investment Trust employees.
Industry
Diversified REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/02/18 01:39
End of day share price update: 2019/02/15 00:00
Last estimates confirmation: 2019/02/15
Last earnings filing: 2019/02/14
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.