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WPG - Why Washington Prime Group Should Cut Its Dividend
Washington Prime Group Inc.
Washington Prime Group (WPG), a REIT that specializes in owning malls, has been under increasing pressure after peer CBL & Associates Properties (CBL) suspended its common and preferred share dividends. While I may possess a cautiously optimistic outlook on CBL, a deep dive into Washington Prime's data is warranted to determine whether the company is a good income investment.
In addition to common shares, Washington Prime also offers preferred shares and unsecured bonds that investors can own. The common shares are currently trading at an unbelievable dividend yield of over 25%! The company's preferred