Washington Real Estate Investment Trust (WRE) Receives $34.10 Consensus Price Target from Brokerages

Washington Real Estate Investment Trust (NYSE:WRE) has received an average recommendation of “Buy” from the six analysts that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $34.10.

Separately, Robert W. Baird upgraded shares of Washington Real Estate Investment Trust from a “neutral” rating to an “outperform” rating and set a $34.00 price target on the stock in a research note on Tuesday, May 16th.

Washington Real Estate Investment Trust (WRE) traded up 0.0304% during midday trading on Friday, reaching $32.5899. The company had a trading volume of 88,518 shares. The firm has a market capitalization of $2.50 billion, a P/E ratio of 19.5032 and a beta of 0.95. Washington Real Estate Investment Trust has a one year low of $27.65 and a one year high of $34.61. The stock’s 50 day moving average price is $32.09 and its 200-day moving average price is $32.03.

Washington Real Estate Investment Trust (NYSE:WRE) last announced its quarterly earnings results on Wednesday, April 26th. The real estate investment trust reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.01. Washington Real Estate Investment Trust had a net margin of 39.41% and a return on equity of 11.93%. The business had revenue of $77.50 million for the quarter, compared to analyst estimates of $77.54 million. On average, equities research analysts anticipate that Washington Real Estate Investment Trust will post $0.42 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, June 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.69%. Washington Real Estate Investment Trust’s payout ratio is presently 71.86%.

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Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Washington Real Estate Investment Trust by 3.9% in the first quarter. Vanguard Group Inc. now owns 11,847,686 shares of the real estate investment trust’s stock worth $370,595,000 after buying an additional 444,191 shares during the last quarter. BlackRock Inc. raised its position in shares of Washington Real Estate Investment Trust by 6,009.6% in the first quarter. BlackRock Inc. now owns 6,664,532 shares of the real estate investment trust’s stock worth $208,468,000 after buying an additional 6,555,449 shares during the last quarter. State Street Corp raised its position in shares of Washington Real Estate Investment Trust by 1.1% in the first quarter. State Street Corp now owns 2,446,766 shares of the real estate investment trust’s stock worth $76,538,000 after buying an additional 26,209 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of Washington Real Estate Investment Trust by 2.5% in the fourth quarter. Macquarie Group Ltd. now owns 2,123,671 shares of the real estate investment trust’s stock worth $69,423,000 after buying an additional 52,569 shares during the last quarter. Finally, Resolution Capital Ltd raised its position in shares of Washington Real Estate Investment Trust by 14.0% in the first quarter. Resolution Capital Ltd now owns 2,017,055 shares of the real estate investment trust’s stock worth $63,093,000 after buying an additional 247,600 shares during the last quarter. Hedge funds and other institutional investors own 83.22% of the company’s stock.

About Washington Real Estate Investment Trust

Washington Real Estate Investment Trust is a self-administered equity real estate investment trust. The Company’s business consists of the ownership and operation of real property in the greater Washington metro region. The Company owns a diversified portfolio of office buildings, multifamily buildings and retail centers.

Analyst Recommendations for Washington Real Estate Investment Trust (NYSE:WRE)

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