Washington Real Estate Investment Trust (NYSE:WRE) was downgraded by Zacks Investment Research from a "hold" rating to a "sell" rating in a note issued to investors on Friday, Zacks.com reports.
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, Raymond James cut their target price on shares of Washington Real Estate Investment Trust from $25.00 to $21.00 and set an "outperform" rating for the company in a research report on Monday, November 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company's stock. Washington Real Estate Investment Trust presently has an average rating of "Hold" and a consensus price target of $23.20.
Shares of NYSE WRE opened at $22.16 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.81. Washington Real Estate Investment Trust has a 52 week low of $16.95 and a 52 week high of $31.61. The firm has a 50-day moving average price of $22.27 and a 200 day moving average price of $21.70. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 4.66 and a beta of 0.76.
Washington Real Estate Investment Trust (NYSE:WRE) last announced its quarterly earnings data on Thursday, February 11th. The real estate investment trust reported ($0.13) EPS for the quarter, missing the Thomson Reuters' consensus estimate of $0.34 by ($0.47). Washington Real Estate Investment Trust had a net margin of 123.40% and a return on equity of 3.10%. Equities research analysts expect that Washington Real Estate Investment Trust will post 1.47 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. California Public Employees Retirement System grew its holdings in shares of Washington Real Estate Investment Trust by 3.4% during the third quarter. California Public Employees Retirement System now owns 188,754 shares of the real estate investment trust's stock worth $3,800,000 after buying an additional 6,132 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Washington Real Estate Investment Trust by 4.0% during the third quarter. Wells Fargo & Company MN now owns 2,144,558 shares of the real estate investment trust's stock worth $43,170,000 after buying an additional 81,975 shares in the last quarter. AlphaCrest Capital Management LLC purchased a new stake in shares of Washington Real Estate Investment Trust during the third quarter worth about $261,000. Nisa Investment Advisors LLC grew its holdings in shares of Washington Real Estate Investment Trust by 38.1% during the third quarter. Nisa Investment Advisors LLC now owns 61,883 shares of the real estate investment trust's stock worth $1,246,000 after buying an additional 17,077 shares in the last quarter. Finally, Keybank National Association OH grew its holdings in shares of Washington Real Estate Investment Trust by 1.7% during the third quarter. Keybank National Association OH now owns 40,667 shares of the real estate investment trust's stock worth $819,000 after buying an additional 692 shares in the last quarter. Institutional investors own 86.42% of the company's stock.
Washington Real Estate Investment Trust Company Profile
WashREIT owns and operates uniquely positioned real estate assets in the Washington Metro area. Backed by decades of experience, expertise and ambition, we create value by transforming insights into strategy and strategy into action. As of October 29, 2020, the Company's portfolio of 45 properties includes approximately 3.7 million square feet of commercial space and 6,863 multifamily apartment units.
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