Analysts Set Washington Real Estate Investment Trust (WRE) Price Target at $29.00

Shares of Washington Real Estate Investment Trust (NYSE:WRE) have been assigned a consensus rating of “Hold” from the eight research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $29.00.

Several research analysts recently weighed in on WRE shares. 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. JPMorgan Chase & Co. cut shares of Washington Real Estate Investment Trust from an “overweight” rating to a “neutral” rating in a research report on Friday, October 5th. Finally, Stifel Nicolaus restated a “sell” rating and issued a $25.00 price objective on shares of Washington Real Estate Investment Trust in a research report on Friday, July 27th.

A number of hedge funds and other institutional investors have recently modified their holdings of WRE. Aperio Group LLC grew its position in Washington Real Estate Investment Trust by 20.2% during the first quarter. Aperio Group LLC now owns 14,670 shares of the real estate investment trust’s stock valued at $400,000 after acquiring an additional 2,461 shares during the last quarter. BlackRock Inc. grew its position in Washington Real Estate Investment Trust by 0.9% during the first quarter. BlackRock Inc. now owns 7,570,913 shares of the real estate investment trust’s stock valued at $206,686,000 after acquiring an additional 69,868 shares during the last quarter. JPMorgan Chase & Co. grew its position in Washington Real Estate Investment Trust by 1,321.4% during the first quarter. JPMorgan Chase & Co. now owns 529,192 shares of the real estate investment trust’s stock valued at $14,448,000 after acquiring an additional 491,961 shares during the last quarter. Great West Life Assurance Co. Can grew its position in Washington Real Estate Investment Trust by 11.9% during the first quarter. Great West Life Assurance Co. Can now owns 53,724 shares of the real estate investment trust’s stock valued at $1,467,000 after acquiring an additional 5,726 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Washington Real Estate Investment Trust by 3.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,182,688 shares of the real estate investment trust’s stock valued at $32,287,000 after acquiring an additional 42,120 shares during the last quarter. Institutional investors and hedge funds own 85.48% of the company’s stock.

Shares of WRE stock traded up $0.12 during trading on Friday, hitting $28.29. The company had a trading volume of 256,500 shares, compared to its average volume of 411,097. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.17. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 15.54 and a beta of 0.72. Washington Real Estate Investment Trust has a 52 week low of $24.92 and a 52 week high of $33.27.

Washington Real Estate Investment Trust (NYSE:WRE) last posted its quarterly earnings data on Thursday, July 26th. The real estate investment trust reported $0.10 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. The company had revenue of $86.61 million for the quarter, compared to analysts’ expectations of $85.06 million. Washington Real Estate Investment Trust had a net margin of 5.72% and a return on equity of 1.76%. Washington Real Estate Investment Trust’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, sell-side analysts forecast that Washington Real Estate Investment Trust will post 1.86 EPS for the current fiscal year.

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

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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Analyst Recommendations for Washington Real Estate Investment Trust (NYSE:WRE)

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