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Washington Real Estate Investment Trust (NYSE:WRE) Upgraded by JPMorgan Chase & Co. to Neutral

Last updated on Thursday, July 2, 2020 | 2020 MarketBeat

Washington Real Estate Investment Trust (NYSE:WRE) was upgraded by stock analysts at JPMorgan Chase & Co. from an "underweight" rating to a "neutral" rating in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The firm currently has a $24.00 target price on the real estate investment trust's stock, up from their previous target price of $22.00. JPMorgan Chase & Co.'s price target suggests a potential upside of 6.57% from the stock's current price.

Other research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Washington Real Estate Investment Trust from a "sell" rating to a "hold" rating in a report on Saturday, June 27th. Stifel Nicolaus reduced their price objective on Washington Real Estate Investment Trust from $25.00 to $23.00 and set a "hold" rating on the stock in a research note on Tuesday.

WRE stock opened at $22.52 on Thursday. Washington Real Estate Investment Trust has a 52-week low of $18.01 and a 52-week high of $32.22. The stock's fifty day simple moving average is $21.94 and its 200-day simple moving average is $25.76. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 4.65 and a beta of 0.80.

Washington Real Estate Investment Trust (NYSE:WRE) last issued its earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.02 earnings per share for the quarter, missing the Zacks' consensus estimate of $0.38 by ($0.36). Washington Real Estate Investment Trust had a net margin of 123.89% and a return on equity of 3.80%. The firm had revenue of $76.79 million during the quarter, compared to analyst estimates of $76.95 million. During the same quarter in the previous year, the business posted $0.44 EPS. Washington Real Estate Investment Trust's revenue was up 7.5% compared to the same quarter last year. As a group, analysts anticipate that Washington Real Estate Investment Trust will post 1.51 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in WRE. Parallel Advisors LLC increased its holdings in Washington Real Estate Investment Trust by 87.6% in the first quarter. Parallel Advisors LLC now owns 1,473 shares of the real estate investment trust's stock valued at $35,000 after buying an additional 688 shares during the last quarter. Sandy Spring Bank increased its holdings in Washington Real Estate Investment Trust by 88.0% in the first quarter. Sandy Spring Bank now owns 1,720 shares of the real estate investment trust's stock valued at $41,000 after buying an additional 805 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in Washington Real Estate Investment Trust in the fourth quarter valued at about $68,000. WASHINGTON TRUST Co bought a new stake in Washington Real Estate Investment Trust in the first quarter valued at about $74,000. Finally, Mutual of America Capital Management LLC increased its holdings in Washington Real Estate Investment Trust by 22.8% in the first quarter. Mutual of America Capital Management LLC now owns 3,512 shares of the real estate investment trust's stock valued at $84,000 after buying an additional 652 shares during the last quarter. 87.94% of the stock is currently owned by institutional investors and hedge funds.

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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