Washington Real Estate Investment Trust (WRE) Stock Rating Lowered by Zacks Investment Research

Washington Real Estate Investment Trust (NYSE:WRE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

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, Robert W. Baird downgraded Washington Real Estate Investment Trust from an “outperform” rating to a “neutral” rating and upped their price target for the company from $32.00 to $35.00 in a report on Wednesday, August 17th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $32.75.

Washington Real Estate Investment Trust (NYSE:WRE) opened at 30.25 on Wednesday. The firm’s 50-day moving average price is $30.87 and its 200 day moving average price is $30.88. The company has a market capitalization of $2.23 billion, a PE ratio of 21.61 and a beta of 0.80. Washington Real Estate Investment Trust has a 52 week low of $23.89 and a 52 week high of $34.61.

Washington Real Estate Investment Trust (NYSE:WRE) last announced its quarterly earnings results on Wednesday, July 27th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. The firm had revenue of $79.41 million for the quarter, compared to the consensus estimate of $77.74 million. Washington Real Estate Investment Trust had a return on equity of 11.37% and a net margin of 30.90%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.42 earnings per share. Equities research analysts expect that Washington Real Estate Investment Trust will post $1.76 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date was Tuesday, September 13th. Washington Real Estate Investment Trust’s payout ratio is 86.33%.

A number of hedge funds have recently modified their holdings of WRE. BNP Paribas Arbitrage SA bought a new stake in shares of Washington Real Estate Investment Trust during the second quarter worth approximately $106,000. State Street Corp boosted its stake in shares of Washington Real Estate Investment Trust by 2.4% in the first quarter. State Street Corp now owns 2,126,134 shares of the real estate investment trust’s stock worth $62,101,000 after buying an additional 49,133 shares during the last quarter. Creative Planning boosted its stake in shares of Washington Real Estate Investment Trust by 1.0% in the second quarter. Creative Planning now owns 4,189 shares of the real estate investment trust’s stock worth $132,000 after buying an additional 40 shares during the last quarter. Nationwide Fund Advisors boosted its stake in shares of Washington Real Estate Investment Trust by 9.9% in the second quarter. Nationwide Fund Advisors now owns 54,000 shares of the real estate investment trust’s stock worth $1,699,000 after buying an additional 4,862 shares during the last quarter. Finally, Strs Ohio boosted its stake in shares of Washington Real Estate Investment Trust by 6.2% in the second quarter. Strs Ohio now owns 134,842 shares of the real estate investment trust’s stock worth $4,242,000 after buying an additional 7,860 shares during the last quarter. Institutional investors and hedge funds own 84.11% of the company’s stock.

About Washington Real Estate Investment Trust

Washington Real Estate Investment Trust is a self-administered, self-managed equity real estate investment trust. The Company’s business consists of the ownership and operation of income-producing real property in the greater Washington metro region. The Company’s three segments include office, retail and multifamily.

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