Resolution Capital Ltd Decreases Stake in Washington Real Estate Investment Trust (WRE)

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Resolution Capital Ltd lowered its position in shares of Washington Real Estate Investment Trust (NYSE:WRE) by 35.4% in the first quarter, HoldingsChannel.com reports. The firm owned 497,043 shares of the real estate investment trust’s stock after selling 272,568 shares during the period. Washington Real Estate Investment Trust makes up about 0.5% of Resolution Capital Ltd’s investment portfolio, making the stock its 22nd biggest position. Resolution Capital Ltd’s holdings in Washington Real Estate Investment Trust were worth $14,106,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of WRE. Norges Bank purchased a new stake in shares of Washington Real Estate Investment Trust during the 4th quarter worth about $22,822,000. BlackRock Inc. grew its holdings in shares of Washington Real Estate Investment Trust by 4.3% during the 4th quarter. BlackRock Inc. now owns 8,294,802 shares of the real estate investment trust’s stock worth $190,781,000 after purchasing an additional 342,603 shares during the period. Pennsylvania Trust Co purchased a new stake in shares of Washington Real Estate Investment Trust during the 1st quarter worth about $35,862,000. First Trust Advisors LP grew its holdings 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 purchasing an additional 212,904 shares during the period. Finally, Millennium Management LLC purchased a new position in Washington Real Estate Investment Trust in the 4th quarter worth approximately $4,276,000. Institutional investors and hedge funds own 86.71% of the company’s stock.

A number of equities analysts have weighed in on WRE shares. Wells Fargo & Co decreased their price target on Washington Real Estate Investment Trust from $32.00 to $26.00 and set a “positive” rating for the company in a report on Wednesday, January 16th. JPMorgan Chase & Co. cut Washington Real Estate Investment Trust from a “neutral” rating to an “underweight” rating in a report on Wednesday, December 19th. Finally, Zacks Investment Research cut Washington Real Estate Investment Trust from a “hold” rating to a “sell” rating in a report on Saturday, February 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $29.00.

NYSE WRE traded down $0.21 on Wednesday, reaching $27.77. The company had a trading volume of 8,425 shares, compared to its average volume of 883,958. The stock has a market cap of $2.29 billion, a PE ratio of 14.92, a P/E/G ratio of 16.27 and a beta of 0.98. 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 quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.16.

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

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date of this dividend was Thursday, March 14th. Washington Real Estate Investment Trust’s payout ratio is 64.52%.

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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.

Further Reading: What is a Call Option?

Want to see what other hedge funds are holding WRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Washington Real Estate Investment Trust (NYSE:WRE).

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

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