Financial services specialist Keefe, Bruyette & Woods said real estate companies had the highest percentage of dividend cuts among financial industry groups in the first quarter. Fifteen percent of real estate firms in KBW's coverage universe cut their dividends in Q1, compared to 4% of diversified financials. Banks and insurance companies did not have their dividends cut in the first quarter.
Only 6% of real estate companies saw their dividends cut in 2014.
Insurance companies posted the largest percentage of increases, at 34%. Banks were next at 26%, followed by diversified financials (18%) and real estate companies (16%).