Charles Schwab Investment Management Inc. Boosts Stock Position in Washington Real Estate Investment Trust (NYSE:WRE)

Charles Schwab Investment Management Inc. grew its holdings in Washington Real Estate Investment Trust (NYSE:WRE) by 2.6% in the second quarter, Holdings Channel reports. The institutional investor owned 1,283,410 shares of the real estate investment trust’s stock after acquiring an additional 32,424 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Washington Real Estate Investment Trust were worth $34,306,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Steward Partners Investment Advisory LLC purchased a new stake in shares of Washington Real Estate Investment Trust during the second quarter worth approximately $85,000. Advisory Services Network LLC increased its position in shares of Washington Real Estate Investment Trust by 654.5% during the second quarter. Advisory Services Network LLC now owns 3,184 shares of the real estate investment trust’s stock worth $85,000 after purchasing an additional 2,762 shares in the last quarter. CIBC Asset Management Inc purchased a new stake in shares of Washington Real Estate Investment Trust during the first quarter worth approximately $203,000. Everence Capital Management Inc. purchased a new stake in shares of Washington Real Estate Investment Trust during the second quarter worth approximately $217,000. Finally, Sheets Smith Wealth Management purchased a new stake in shares of Washington Real Estate Investment Trust during the first quarter worth approximately $230,000. Institutional investors and hedge funds own 89.38% of the company’s stock.

Shares of WRE opened at $28.02 on Thursday. 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 one year low of $22.53 and a one year high of $31.30. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 15.78 and a beta of 0.93. The stock has a 50 day moving average price of $26.59 and a 200 day moving average price of $27.37.

Washington Real Estate Investment Trust (NYSE:WRE) last issued its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.44). Washington Real Estate Investment Trust had a return on equity of 0.78% and a net margin of 2.51%. The firm had revenue of $76.82 million for the quarter, compared to analysts’ expectations of $85.76 million. During the same quarter in the previous year, the firm posted $0.48 earnings per share. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, analysts predict that Washington Real Estate Investment Trust will post 1.72 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 4.28%. The ex-dividend date of this dividend is Friday, September 13th. Washington Real Estate Investment Trust’s payout ratio is 64.52%.

Separately, Zacks Investment Research upgraded Washington Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $28.80.

Washington Real Estate Investment Trust Company Profile

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.

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Institutional Ownership by Quarter for Washington Real Estate Investment Trust (NYSE:WRE)

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