Washington Real Estate Investment Trust
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Washington REIT owns and operates uniquely positioned real estate assets in the Washington D.C. The last earnings update was 59 days ago. More info.
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WRE Share Price and Events
7 Day Returns
1 Year Returns
WRE Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Washington Real Estate Investment Trust (WRE) | -3.8% | 0.5% | 14.8% | 1% | -4.4% | 15.4% |
| US REITs | -2.7% | 0.5% | 7.1% | 14.5% | 11% | 25.5% |
| US Market | 0.2% | 2.1% | 8.5% | 6.3% | 37.9% | 45.7% |
1 Year Return vs Industry and Market
- WRE underperformed the REITs industry which returned 14.5% over the past year.
- WRE underperformed the Market in United States of America which returned 6.3% over the past year.
WRE Value
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Washington Real Estate Investment Trust.
| 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 6 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 7.8% |
| 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.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 6% |
| REITs Unlevered Beta | Simply Wall St/ S&P Global | 0.55 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.546 (1 + (1- 21%) (55.88%)) |
0.857 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.86 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.857 * 5.96%) |
7.84% |
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 try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd 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.
| Adjusted Funds From Operations (AFFO) (USD, Millions) | Source |
Present Value Discounted (@ 7.84%) |
|
|---|---|---|---|
| 2019 | 112.48 | Analyst x5 | 104.30 |
| 2020 | 105.23 | Analyst x5 | 90.48 |
| 2021 | 124.03 | Analyst x2 | 98.90 |
| 2022 | 130.78 | Analyst x1 | 96.70 |
| 2023 | 136.19 | Analyst x1 | 93.38 |
| 2024 | 144.97 | Est @ 6.44% | 92.17 |
| 2025 | 152.69 | Est @ 5.33% | 90.02 |
| 2026 | 159.64 | Est @ 4.55% | 87.28 |
| 2027 | 166.03 | Est @ 4% | 84.17 |
| 2028 | 172.05 | Est @ 3.62% | 80.88 |
| Present value of next 10 years cash flows | $918.29 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= $172.05 × (1 + 2.73%) ÷ (7.84% – 2.73%) |
$3,458.77 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $3,458.77 ÷ (1 + 7.84%)10 |
$1,626.00 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $918.29 + $1,626.00 |
$2,544.29 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $2,544.29 / 80.02 |
$31.79 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $31.79 |
| Current discount | Discount to share price of
$27.80
= -1 x ($27.80 - $31.79) / $31.79 |
12.6% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Washington Real Estate Investment Trust's share price is below the future cash flow value, but not at a moderate discount (< 20%).
- Washington Real Estate Investment Trust's share price is below the future cash flow value, but not at a substantial discount (< 40%).
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?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in USD | $0.32 |
| NYSE:WRE Share Price ** | NYSE (2019-04-18) in USD | $27.8 |
| United States of America REITs Industry PE Ratio | Median Figure of 152 Publicly-Listed REITs Companies | 31.08x |
| United States of America Market PE Ratio | Median Figure of 3,081 Publicly-Listed Companies | 18.15x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Washington Real Estate Investment Trust.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NYSE:WRE Share Price ÷ EPS (both in USD) = 27.8 ÷ 0.32 |
87.44x |
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?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 87.44x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts |
23.3%per year |
| United States of America REITs Industry PEG Ratio | Median Figure of 139 Publicly-Listed REITs Companies | -0.1x |
| United States of America Market PEG Ratio | Median Figure of 2,109 Publicly-Listed Companies | 1.57x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 87.44x ÷ 23.3% |
3.76x |
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?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in USD | $13.37 |
| NYSE:WRE Share Price * | NYSE (2019-04-18) in USD | $27.8 |
| United States of America REITs Industry PB Ratio | Median Figure of 191 Publicly-Listed REITs Companies | 1.84x |
| United States of America Market PB Ratio | Median Figure of 5,178 Publicly-Listed Companies | 1.91x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NYSE:WRE Share Price ÷ Book Value per Share (both in USD) = 27.8 ÷ 13.37 |
2.08x |
* 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.
Value checks
We assess Washington Real Estate Investment Trust's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check) 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
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!
Earnings growth vs Low Risk Savings
- 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
| Data Point | Source | Value (per year) |
|---|---|---|
| NYSE:WRE Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts | 23.3% |
| NYSE:WRE Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts | 2.6% |
| United States of America REITs Industry Earnings Growth Rate | Market Cap Weighted Average | 1.9% |
| United States of America REITs Industry Revenue Growth Rate | Market Cap Weighted Average | 3.4% |
| 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% |
*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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 6 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 406 | 75 | 1 | |
| 2022-12-31 | 384 | 65 | 1 | |
| 2021-12-31 | 342 | 42 | 3 | |
| 2020-12-31 | 324 | 28 | 6 | |
| 2019-12-31 | 325 | 21 | 6 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 337 | 147 | 25 |
| 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.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 6 Analyst Estimates (S&P Global) | See Below |
All data from Washington Real Estate Investment Trust Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | ||||
| 2022-12-31 | ||||
| 2021-12-31 | 0.42 | 0.42 | 0.42 | 1.00 |
| 2020-12-31 | 0.31 | 0.31 | 0.31 | 1.00 |
| 2019-12-31 | 0.23 | 0.23 | 0.23 | 1.00 |
| 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%).
Future performance checks
We assess Washington Real Estate Investment Trust's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
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
Past Earnings growth analysis
- 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 (30% vs 16.6%)
- Washington Real Estate Investment Trust's earnings growth has exceeded the US REITs industry average in the past year (30% vs 22%).
Earnings and Revenue History
All data from Washington Real Estate Investment Trust Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 336.89 | 25.10 | 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 |
*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).
Past performance checks
We assess Washington Real Estate Investment Trust's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
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.
- 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
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is not covered by short term assets, assets are 0.1x 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.
All data from Washington Real Estate Investment Trust Company Filings, last reported 3 months ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 1,068.48 | 1,243.19 | 16.65 |
| 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 |
- 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 (11.9%, 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).
Financial health checks
We assess Washington Real Estate Investment Trust's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Washington Real Estate Investment Trust has a total score of 2/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
$2,000 of
Washington Real Estate Investment Trust
shares you are expected to receive
$86
in your first year as a dividend.
Dividend Amount
- Washington Real Estate Investment Trust's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.4%).
- Washington Real Estate Investment Trust's dividend is above the markets top 25% of dividend payers in United States of America (3.62%).
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.
| 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 6 Analyst Estimates (S&P Global) | See Below |
| United States of America REITs Industry Average Dividend Yield | Market Cap Weighted Average of 184 Stocks | 4% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 2009 Stocks | 2.4% |
| 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.
| 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 | 1.27 | 3.00 |
| 2020-12-31 | 1.19 | 7.00 |
| 2019-12-31 | 1.21 | 7.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-02-19 | 1.200 | 4.309 |
| 2019-02-14 | 1.200 | 4.520 |
| 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 |
| 2009-04-20 | 1.730 | 8.065 |
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).
- Dividends after 3 years are expected to be thoroughly covered by earnings (119.3x coverage).
Income/ dividend checks
We assess Washington Real Estate Investment Trust's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- 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) 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
CEO
| COMPENSATION | $3,548,997 |
| AGE | 56 |
| TENURE AS CEO | 5.5 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 been consistent with company performance over the past year.
- Paul's remuneration is about 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:
- The tenure for the Washington Real Estate Investment Trust management team is about average.
Management Team
Paul McDermott
Chairman of Board
$4M
56
5.5 yrs
Steve Riffee
Executive VP & CFO
$2M
60
4.2 yrs
Taryn Fielder
Senior VP
$1M
40
2.1 yrs
Andrew Leahy
Vice President of Investments
4.4 yrs
Wade Hammond
VP, Chief Accounting Officer & Treasurer
43
3.8 yrs
Susan Gerock
Chief Information Officer & VP of Information Technology
3 yrs
Tejal Engman
Vice President
4.1 yrs
Deanna Schmidt
Senior Director of Marketing & Corporate Communications
1.6 yrs
Brian Guttman
Vice President of Human Resources
3.3 yrs
Edward Murn
Managing Director of Development & Multifamily Division
50
Board of Directors Tenure
Average tenure and age of the Washington Real Estate Investment Trust board of directors in years:
- The tenure for the Washington Real Estate Investment Trust board of directors is about average.
Board of Directors
Paul McDermott
Chairman of Board
$4M
56
0.9 yrs
Anthony Winns
$158K
62
7.8 yrs
Ben Butcher
$147K
65
4.8 yrs
Tom Nolan
$162K
60
4.3 yrs
Ellen Goitia
$162K
58
1.8 yrs
Tuck Nason
Lead Independent Trustee
$233K
71
0.9 yrs
Ed Civera
$160K
67
12.8 yrs
Bill Byrnes
$160K
67
8.9 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
Management checks
We assess Washington Real Estate Investment Trust's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) 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
Washington Real Estate Investment Trust (NYSE:WRE) Delivered A Weaker ROE Than Its Industry
By way of learning-by-doing, we'll look at ROE to gain a better understanding of Washington Real Estate Investment Trust (NYSE:WRE). … Washington Real Estate Investment Trust has a ROE of 2.4%, based on the last twelve months. … See our latest analysis for Washington Real Estate Investment Trust?
Simply Wall St - – Full articleDoes Washington Real Estate Investment Trust's (NYSE:WRE) April Stock Price Reflect Its Future Growth?
Washington Real Estate Investment Trust (NYSE:WRE) closed yesterday at $28.38, which left some investors asking whether the high earnings potential can still be justified at this price. … See our latest analysis for Washington Real Estate Investment Trust? … The excitement around Washington Real Estate Investment Trust's growth potential is not unfounded
Simply Wall St - – Full articleIs Washington Real Estate Investment Trust's (NYSE:WRE) CEO Salary Justified?
In 2013 Paul McDermott was appointed CEO of Washington Real Estate Investment Trust (NYSE:WRE). … View our latest analysis for Washington Real Estate Investment Trust? … At the time of writing our data says that Washington Real Estate Investment Trust has a market cap of US$2.2b, and is paying total annual CEO compensation of US$6.9m.
Simply Wall St - – Full articleWashington Real Estate Investment Trust (NYSE:WRE): What Does The Future Look Like?
The latest earnings announcement Washington Real Estate Investment Trust (NYSE:WRE) released in December 2018a
Simply Wall St - – Full articleAn Examination Of Washington Real Estate Investment Trust (NYSE:WRE)
Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on Washington Real Estate Investment Trust (NYSE:WRE) due to its excellent fundamentals in more than one area.
Simply Wall St - – Full articleYou 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 - – Full articleWhat 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 - – Full articleWhat 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 - – Full articleWhy 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 - – Full articleShould 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 - – Full articleWRE Company Info
Description
Washington REIT owns and operates uniquely positioned real estate assets in the Washington D.C. 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. 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 |
| $2,224,675,289 | |
| $2,224,338,242 | |
| 80,024,291 | |
| 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
Industry
| Diversified REITs | |
| Real Estate |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/04/19 23:44 |
| End of day share price update: | 2019/04/18 00:00 |
| Last estimates confirmation: | 2019/04/05 |
| Last earnings filing: | 2019/02/19 |
| 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.
