California Public Employees Retirement System Trims Position in Washington Real Estate Investment Trust (WRE)

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California Public Employees Retirement System decreased its stake in shares of Washington Real Estate Investment Trust (NYSE:WRE) by 3.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 128,981 shares of the real estate investment trust’s stock after selling 4,400 shares during the period. California Public Employees Retirement System owned 0.16% of Washington Real Estate Investment Trust worth $2,967,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Washington Real Estate Investment Trust by 6.5% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 13,880 shares of the real estate investment trust’s stock worth $318,000 after acquiring an additional 850 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Washington Real Estate Investment Trust by 22.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 16,515 shares of the real estate investment trust’s stock worth $380,000 after acquiring an additional 3,004 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Washington Real Estate Investment Trust by 26.6% during the 4th quarter. First Trust Advisors LP now owns 1,014,509 shares of the real estate investment trust’s stock worth $23,334,000 after acquiring an additional 212,904 shares in the last quarter. Prudential Financial Inc. grew its stake in shares of Washington Real Estate Investment Trust by 5.6% during the 4th quarter. Prudential Financial Inc. now owns 9,654 shares of the real estate investment trust’s stock worth $222,000 after acquiring an additional 511 shares in the last quarter. Finally, Thornburg Investment Management Inc. grew its stake in shares of Washington Real Estate Investment Trust by 5.6% during the 4th quarter. Thornburg Investment Management Inc. now owns 3,141,427 shares of the real estate investment trust’s stock worth $72,253,000 after acquiring an additional 166,000 shares in the last quarter. Institutional investors and hedge funds own 85.42% of the company’s stock.

NYSE:WRE opened at $28.16 on Friday. Washington Real Estate Investment Trust has a 1-year low of $22.53 and a 1-year high of $31.85. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a market capitalization of $2.19 billion, a P/E ratio of 15.14, a PEG ratio of 15.58 and a beta of 0.97.

Washington Real Estate Investment Trust (NYSE:WRE) last released its earnings results on Thursday, February 14th. The real estate investment trust reported $0.46 earnings per share for the quarter, meeting the consensus estimate of $0.46. Washington Real Estate Investment Trust had a net margin of 7.61% and a return on equity of 2.38%. The business had revenue of $82.90 million during the quarter, compared to analysts’ expectations of $83.63 million. During the same period last year, the business earned $0.45 earnings per share. The firm’s revenue was up 2.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Washington Real Estate Investment Trust will post 1.76 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.20 annualized dividend and a dividend yield of 4.26%. Washington Real Estate Investment Trust’s dividend payout ratio is presently 64.52%.

Several brokerages have recently weighed in on WRE. Zacks Investment Research raised shares of Washington Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research note on Friday, November 23rd. Raymond James decreased their price target on shares of Washington Real Estate Investment Trust from $32.00 to $31.00 and set an “outperform” rating for the company in a research note on Friday, November 30th. JPMorgan Chase & Co. cut shares of Washington Real Estate Investment Trust from a “neutral” rating to an “underweight” rating in a research note on Wednesday, December 19th. Finally, Wells Fargo & Co decreased their price target on shares of Washington Real Estate Investment Trust from $32.00 to $26.00 and set a “positive” rating for the company in a research note on Wednesday, January 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Washington Real Estate Investment Trust has an average rating of “Hold” and an average target price of $29.60.

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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.

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

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