Washington Real Estate Investment Trust (WRE) to Post Q3 2018 Earnings of $0.46 Per Share, SunTrust Banks Forecasts

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Washington Real Estate Investment Trust (NYSE:WRE) – Research analysts at SunTrust Banks lowered their Q3 2018 earnings per share (EPS) estimates for Washington Real Estate Investment Trust in a note issued to investors on Monday, October 15th. SunTrust Banks analyst M. Lewis now expects that the real estate investment trust will post earnings per share of $0.46 for the quarter, down from their prior forecast of $0.47. SunTrust Banks also issued estimates for Washington Real Estate Investment Trust’s Q4 2018 earnings at $0.46 EPS, FY2019 earnings at $1.85 EPS, FY2020 earnings at $1.85 EPS, FY2021 earnings at $1.90 EPS and FY2022 earnings at $1.96 EPS.

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

Several other research analysts also recently issued reports on the stock. JPMorgan Chase & Co. downgraded shares of Washington Real Estate Investment Trust from an “overweight” rating to a “neutral” rating in a research report on Friday, October 5th. Stifel Nicolaus reiterated a “sell” rating and set a $25.00 price target on shares of Washington Real Estate Investment Trust in a research report on Friday, July 27th. Finally, ValuEngine upgraded shares of Washington Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research report on Friday, June 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Washington Real Estate Investment Trust presently has an average rating of “Hold” and an average price target of $29.75.

Shares of NYSE WRE opened at $28.29 on Thursday. The stock has a market cap of $2.23 billion, a P/E ratio of 15.54 and a beta of 0.72. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.41 and a current ratio of 1.41. Washington Real Estate Investment Trust has a 12-month low of $24.92 and a 12-month high of $33.27.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 14th were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, September 13th. This represents a $1.20 annualized dividend and a yield of 4.24%. Washington Real Estate Investment Trust’s dividend payout ratio is currently 65.93%.

A number of large investors have recently made changes to their positions in WRE. Heitman Real Estate Securities LLC bought a new stake in Washington Real Estate Investment Trust during the 1st quarter worth about $19,502,000. Resolution Capital Ltd raised its holdings in Washington Real Estate Investment Trust by 57.7% during the 2nd 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 last quarter. JPMorgan Chase & Co. raised its holdings in Washington Real Estate Investment Trust by 1,321.4% during the 1st quarter. JPMorgan Chase & Co. now owns 529,192 shares of the real estate investment trust’s stock worth $14,448,000 after purchasing an additional 491,961 shares during the last quarter. FMR LLC raised its holdings in Washington Real Estate Investment Trust by 8.4% during the 2nd 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 last quarter. Finally, 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 worth $238,724,000 after purchasing an additional 299,981 shares during the last quarter. 85.48% of the stock is owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for Washington Real Estate Investment Trust (NYSE:WRE)

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