Washington Real Estate Investment Trust (NYSE:WRE) has received an average recommendation of “Hold” from the six research firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $28.50.
Several analysts have commented on the stock. Robert W. Baird cut shares of Washington Real Estate Investment Trust from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $30.00 to $28.00 in a research note on Tuesday, May 14th. Zacks Investment Research cut shares of Washington Real Estate Investment Trust from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd.
Hedge funds have recently made changes to their positions in the business. Advisor Group Inc. raised its position in shares of Washington Real Estate Investment Trust by 48.9% during the 4th quarter. Advisor Group Inc. now owns 5,290 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 1,737 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Washington Real Estate Investment Trust in the 1st quarter worth approximately $849,000. Millennium Management LLC purchased a new stake in shares of Washington Real Estate Investment Trust in the 4th quarter worth approximately $4,276,000. Piedmont Investment Advisors Inc. purchased a new stake in shares of Washington Real Estate Investment Trust in the 1st quarter worth approximately $571,000. Finally, Pennsylvania Trust Co purchased a new stake in Washington Real Estate Investment Trust during the first quarter valued at approximately $35,862,000. Institutional investors and hedge funds own 87.42% of the company’s stock.
Shares of WRE traded up $0.13 during trading hours on Thursday, reaching $26.28. 207,600 shares of the stock traded hands, compared to its average volume of 663,357. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.17 and a current ratio of 1.17. Washington Real Estate Investment Trust has a 52-week low of $22.53 and a 52-week high of $31.85. The company’s 50-day simple moving average is $27.06. The company has a market capitalization of $2.11 billion, a P/E ratio of 14.13, a P/E/G ratio of 15.34 and a beta of 0.92.
Washington Real Estate Investment Trust (NYSE:WRE) last released its earnings results on Thursday, July 25th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.44). Washington Real Estate Investment Trust had a net margin of 2.51% and a return on equity of 0.78%. The firm had revenue of $76.82 million for the quarter, compared to analysts’ expectations of $85.76 million. During the same quarter last year, the firm posted $0.48 EPS. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. Equities research analysts expect that Washington Real Estate Investment Trust will post 1.72 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend is Friday, September 13th. Washington Real Estate Investment Trust’s payout ratio is currently 64.52%.
About Washington Real Estate Investment Trust
Washington REIT owns and operates uniquely positioned real estate assets in the Washington DC market. Backed by decades of experience, expertise and ambition, we create value by transforming insights into strategy and strategy into action. Our portfolio of 48 properties includes approximately 6.1 million square feet of commercial space and 4,268 multifamily apartment units.
See Also: Cost of Goods Sold (COGS)
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