Washington Real Estate Investment Trust (NYSE:WRE) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Washington Real Estate Investment Trust (NYSE:WRE) from a sell rating to a hold rating in a research report report published on Saturday, Zacks.com reports.

According to Zacks, “WASHINGTON R.E. INV. TRUST is a self-administered qualified equity real estate investment trust. The Trust’s business consists of the ownership of income-producing real estate properties principally in the Greater Washington-Baltimore Region. The Trust has a fundamental strategy of regional focus, diversified property type ownership and conservative financial management. “

Separately, Stifel Nicolaus lowered their target price on shares of Washington Real Estate Investment Trust from $30.00 to $24.00 and set a hold rating on the stock in a research note on Friday, April 3rd.

NYSE WRE opened at $22.29 on Friday. The stock has a market cap of $1.79 billion, a P/E ratio of 4.61 and a beta of 0.78. The company’s 50-day simple moving average is $21.93 and its 200 day simple moving average is $25.80. Washington Real Estate Investment Trust has a twelve month low of $18.01 and a twelve month high of $32.22. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.84.

Washington Real Estate Investment Trust (NYSE:WRE) last posted its earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.36). The business had revenue of $76.79 million during the quarter, compared to the consensus estimate of $76.95 million. Washington Real Estate Investment Trust had a net margin of 123.89% and a return on equity of 3.80%. The business’s revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.44 EPS. Research analysts anticipate that Washington Real Estate Investment Trust will post 1.51 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Monday, June 22nd will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, June 19th. This represents a $1.20 dividend on an annualized basis and a yield of 5.38%. Washington Real Estate Investment Trust’s dividend payout ratio (DPR) is presently 72.29%.

Large investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC boosted its position in Washington Real Estate Investment Trust by 87.6% in the first quarter. Parallel Advisors LLC now owns 1,473 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 688 shares in the last quarter. Sandy Spring Bank boosted its position in Washington Real Estate Investment Trust by 88.0% in the first quarter. Sandy Spring Bank now owns 1,720 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 805 shares in the last quarter. Marshall Wace North America L.P. acquired a new position in Washington Real Estate Investment Trust in the fourth quarter valued at about $68,000. WASHINGTON TRUST Co acquired a new position in Washington Real Estate Investment Trust in the first quarter valued at about $74,000. Finally, Point72 Hong Kong Ltd boosted its position in Washington Real Estate Investment Trust by 372.9% in the fourth quarter. Point72 Hong Kong Ltd now owns 3,244 shares of the real estate investment trust’s stock valued at $95,000 after buying an additional 2,558 shares in the last quarter. Hedge funds and other institutional investors own 87.94% of the company’s stock.

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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