Analysts forecast that Washington Real Estate Investment Trust (NYSE:WRE) will announce $71.01 million in sales for the current quarter, Zacks reports. Four analysts have made estimates for Washington Real Estate Investment Trust's earnings, with the lowest sales estimate coming in at $70.34 million and the highest estimate coming in at $72.22 million. Washington Real Estate Investment Trust reported sales of $72.87 million during the same quarter last year, which would suggest a negative year over year growth rate of 2.6%. The firm is expected to issue its next quarterly earnings results on Tuesday, July 27th.
According to Zacks, analysts expect that Washington Real Estate Investment Trust will report full year sales of $288.76 million for the current fiscal year, with estimates ranging from $285.15 million to $292.76 million. For the next fiscal year, analysts forecast that the firm will report sales of $311.96 million, with estimates ranging from $299.89 million to $326.76 million. Zacks Investment Research's sales calculations are a mean average based on a survey of sell-side research firms that cover Washington Real Estate Investment Trust.
Washington Real Estate Investment Trust (NYSE:WRE) last released its quarterly earnings results on Wednesday, April 28th. The real estate investment trust reported ($0.02) EPS for the quarter, missing the Zacks' consensus estimate of $0.30 by ($0.32). Washington Real Estate Investment Trust had a negative net margin of 6.46% and a negative return on equity of 1.41%. The firm had revenue of $69.63 million during the quarter, compared to the consensus estimate of $69.48 million. During the same period in the prior year, the business earned $0.37 EPS. The company's revenue for the quarter was down 9.3% compared to the same quarter last year.
Several equities research analysts have recently issued reports on the stock. TheStreet upgraded shares of Washington Real Estate Investment Trust from a "d+" rating to a "c-" rating in a research note on Thursday, April 29th. Zacks Investment Research downgraded shares of Washington Real Estate Investment Trust from a "buy" rating to a "hold" rating in a research note on Thursday, May 6th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Washington Real Estate Investment Trust currently has a consensus rating of "Hold" and an average price target of $23.67.
Hedge funds and other institutional investors have recently modified their holdings of the business. Quantbot Technologies LP bought a new position in shares of Washington Real Estate Investment Trust during the first quarter valued at $32,000. Concord Wealth Partners bought a new position in shares of Washington Real Estate Investment Trust during the fourth quarter valued at $32,000. Hoertkorn Richard Charles bought a new position in shares of Washington Real Estate Investment Trust during the first quarter valued at $33,000. Veriti Management LLC bought a new position in shares of Washington Real Estate Investment Trust during the fourth quarter valued at $62,000. Finally, Van ECK Associates Corp raised its holdings in shares of Washington Real Estate Investment Trust by 33.2% in the fourth quarter. Van ECK Associates Corp now owns 3,315 shares of the real estate investment trust's stock valued at $72,000 after buying an additional 827 shares during the last quarter. 87.54% of the stock is owned by institutional investors.
Shares of Washington Real Estate Investment Trust stock opened at $26.50 on Friday. The business has a fifty day moving average of $23.43. The firm has a market capitalization of $2.24 billion, a P/E ratio of -115.22 and a beta of 0.92. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.04 and a current ratio of 1.04. Washington Real Estate Investment Trust has a 1 year low of $16.95 and a 1 year high of $27.05.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 6th. Shareholders of record on Wednesday, June 23rd will be issued a dividend of $0.30 per share. The ex-dividend date is Tuesday, June 22nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.53%. Washington Real Estate Investment Trust's payout ratio is presently 82.76%.
About Washington Real Estate Investment Trust
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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