|Ticker||Name||Market Cap (Billions)||Dividend Declaration Date||Previous Dividend||Latest Dividend||Dividend Payout Change||Dividend Yield|
|SBY||Silver Bay Realty Trust Corp||$0.6||03/13/2014||$0.01||$0.03||200%||0.8%|
|MTN||Vail Resorts Inc||$2.5||03/12/2014||$0.2075||$0.415||100%||2.4%|
|FAF||First American Financial Corp||$2.9||03/11/2014||$0.12||$0.24||100%||3.5%|
|WIBC||Wilshire Bancorp Inc||$0.9||03/13/2014||$0.03||$0.05||67%||1.8%|
|PEB||Pebblebrook Hotel Trust||$2.2||03/14/2014||$0.16||$0.23||44%||2.7%|
|ELS||Equity Lifestyle Properties In||$3.4||03/11/2014||$0.25||$0.325||30%||3.2%|
|MEI||Methode Electronics Inc||$1.2||03/13/2014||$0.07||$0.09||29%||1.2%|
|CNS||Cohen & Steers Inc||$1.7||03/14/2014||$0.2||$0.22||10%||2.2%|
|CMO||Capstead Mortgage Corp||$1.2||03/13/2014||$0.31||$0.34||10%||10.5%|
|GIS||General Mills Inc||$31.1||03/11/2014||$0.38||$0.41||8%||3.3%|
|RLJ||RLJ Lodging Trust||$3.3||03/14/2014||$0.205||$0.22||7%||3.3%|
|BXMT||Blackstone Mortgage Trust Inc||$1.2||03/14/2014||$0.45||$0.48||7%||6.6%|
|PLOW||Douglas Dynamics Inc||$0.4||03/10/2014||$0.2125||$0.2175||2%||5.0%|
- Vail Resorts (MTN) owns and operates resorts, luxury hotels and golf courses. If you’ve ever visited Vail, Breckenridge, Keystone, or Beaver Creek, then you’ve likely contributed to this company’s top line. The company doubled its payout ratio and is going to need to deliver rapid growth to make its dividend distribution more comfortable as well as support its valuation. MTN has an enterprise value/EBITDA of 15.1x, a significant premium to the market. Its dividend payments are also estimated to exceed its net income in for 2014. Consensus earnings estimates show expected growth of 119% and 40% in 2015 and 2016, respectively.
- With many parts of the country experiencing unseasonably late snowfalls, snowplows and ice control products from Douglas Dynamics (PLOW) are getting extra use. The company’s estimated dividend payout ratio is now high, at 93%.
- A slew of real estate investment trusts (REITs) appear on this week’s Sonar Report, including Equity LifeStyle Properties (ELS), RLJ Lodging Trust (RLJ) and Pebblebrook Hotel Trust (PEB). S&P 500 component Equity Residential (EQR) is one of the largest REITs in existence, with a market cap of over $20 billion. EQR owns or has investments in 390 properties consisting of 109,855 apartment units. Capstead Mortgage (CMO) is a mortgage REIT that earns income by investing in real estate-related assets on a leveraged basis.
- Williams-Sonoma (WSM) is well known for its Pottery Barn, West Elm, Mark and Graham, and Rejuvenation brands. This specialty retailer of home products raised its dividend by 6%, which was much lower than the 2013 and 2012 hikes of 41% and 29%, respectively.
- General Mills (GIS) and its predecessor firms have paid dividends, uninterrupted and without reduction, for 115 years.
- Colgate-Palmolive (CL), an S&P 500 Dividend Aristocrat, increased its dividend for the 51st consecutive year.
- Blackstone Mortgage Trust (BXMT) is a real estate finance company that focuses on originating mortgage loans backed by commercial real estate assets. This trust began paying a dividend again in 2013 after suspending it in 2008.
- First American Financial (FAF) provides title insurance and various other services to homebuyers and sellers, real estate professionals, loan originators and servicers, commercial property professionals and homebuilders. The firm doubled its dividend, but its payout still seems reasonable with an estimated dividend payout ratio of 53%.
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Irregular Dividend Payouts
|Ticker||Name||Market Cap (Billions)||Dividend Declaration Date||Previous Dividend||Latest Dividend||12-Month Dividend Yield|
|XCO||EXCO Resources Inc||$1.4||03/10/2014||$0.049416||$0.0.05||3.8%|
|Ticker||Name||Market Cap (Billions)||Dividend Declaration Date||Dividend||Dividend Yield|
|GPT||Gramercy Property Trust Inc||$0.4||03/13/2014||$0.035||2.6%|
- Welcome back, Gramercy Property Trust (GPT). This commercial REIT has completed its transformation, including a name change, and announced the resumption of a common stock quarterly dividend. GPT suspended its dividend in 2008, amid the financial crisis.
Dividend Action Watch
|Ticker||Name||Tentative Dividend Declaration Date|
|AHT||Ashford Hospitality Trust Inc||03/17/2014|
|TWO||Two Harbors Investment Corp||03/18/2014|
|NLY||Annaly Capital Management Inc||03/20/2014|
|INDB||Independent Bank Corp/Rockland MA||03/20/2014|
|APD||Air Products & Chemicals Inc||03/20/2014|
Source: Dividends & Income Daily Research, Bloomberg