Zacks: Analysts Expect Washington Real Estate Investment Trust (WRE) Will Announce Earnings of $0.46 Per Share

Equities research analysts forecast that Washington Real Estate Investment Trust (NYSE:WRE) will announce earnings per share of $0.46 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Washington Real Estate Investment Trust’s earnings. The highest EPS estimate is $0.47 and the lowest is $0.46. Washington Real Estate Investment Trust also posted earnings of $0.46 per share during the same quarter last year. The business is scheduled to announce its next earnings report after the market closes on Thursday, October 25th.

On average, analysts expect that Washington Real Estate Investment Trust will report full year earnings of $1.86 per share for the current financial year, with EPS estimates ranging from $1.85 to $1.88. For the next year, analysts expect that the business will post earnings of $1.88 per share, with EPS estimates ranging from $1.86 to $1.90. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that follow Washington Real Estate Investment Trust.

Washington Real Estate Investment Trust (NYSE:WRE) last announced its earnings results on Thursday, July 26th. The real estate investment trust reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. Washington Real Estate Investment Trust had a return on equity of 1.76% and a net margin of 5.72%. The firm had revenue of $86.61 million for the quarter, compared to the consensus estimate of $85.06 million. The business’s revenue was up 3.8% compared to the same quarter last year.

WRE has been the topic of a number of research analyst reports. ValuEngine downgraded Washington Real Estate Investment Trust from a “hold” rating to a “sell” rating in a research note on Saturday, June 2nd. Stifel Nicolaus reaffirmed a “sell” rating and issued a $25.00 price target on shares of Washington Real Estate Investment Trust in a report on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $31.20.

Shares of NYSE WRE traded up $0.10 during midday trading on Friday, reaching $30.10. The company’s stock had a trading volume of 1,235 shares, compared to its average volume of 298,112. Washington Real Estate Investment Trust has a 12-month low of $24.92 and a 12-month high of $33.75. The company has a market capitalization of $2.41 billion, a PE ratio of 16.63 and a beta of 0.73. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.17.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $1.20 dividend on an annualized basis and a yield of 3.99%. Washington Real Estate Investment Trust’s payout ratio is 65.93%.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its holdings in Washington Real Estate Investment Trust by 4.0% during the 2nd quarter. BlackRock Inc. now owns 7,870,894 shares of the real estate investment trust’s stock valued at $238,724,000 after acquiring an additional 299,981 shares during the period. FMR LLC increased its holdings in shares of Washington Real Estate Investment Trust by 8.4% in the second quarter. FMR LLC now owns 3,969,366 shares of the real estate investment trust’s stock worth $120,392,000 after purchasing an additional 305,943 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Washington Real Estate Investment Trust by 10.7% in the second quarter. Victory Capital Management Inc. now owns 2,752,083 shares of the real estate investment trust’s stock worth $83,470,000 after purchasing an additional 265,248 shares during the period. Northern Trust Corp increased its holdings in shares of Washington Real Estate Investment Trust by 3.6% in the first quarter. Northern Trust Corp now owns 1,890,886 shares of the real estate investment trust’s stock worth $51,620,000 after purchasing an additional 65,707 shares during the period. Finally, Resolution Capital Ltd increased its holdings in shares of Washington Real Estate Investment Trust by 57.7% in the second quarter. Resolution Capital Ltd now owns 1,654,558 shares of the real estate investment trust’s stock worth $50,183,000 after purchasing an additional 605,070 shares during the period. 85.49% of the stock is currently owned by institutional investors and hedge funds.

About Washington Real Estate Investment Trust

Washington REIT owns and operates uniquely positioned real estate assets in the Washington DC market. The Company's portfolio of 48 properties consists of 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.

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