Washington Real Estate Investment Trust (NYSE:WRE) Expected to Announce Quarterly Sales of $70.55 Million

Thursday, July 22, 2021 | MarketBeat

Analysts expect Washington Real Estate Investment Trust (NYSE:WRE) to post $70.55 million in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Washington Real Estate Investment Trust's earnings. The highest sales estimate is $70.85 million and the lowest is $70.34 million. Washington Real Estate Investment Trust reported sales of $72.87 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 3.2%. The firm is expected to issue its next earnings results after the market closes on Thursday, July 29th.

On average, analysts expect that Washington Real Estate Investment Trust will report full year sales of $241.37 million for the current financial year, with estimates ranging from $237.83 million to $243.35 million. For the next financial year, analysts forecast that the company will report sales of $212.87 million, with estimates ranging from $197.49 million to $223.57 million. Zacks' sales averages are a mean average based on a survey of analysts that that provide coverage for Washington Real Estate Investment Trust.

Washington Real Estate Investment Trust (NYSE:WRE) last released its quarterly earnings data on Wednesday, April 28th. The real estate investment trust reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $0.30 by ($0.32). The company had revenue of $69.63 million for the quarter, compared to analyst estimates of $69.48 million. Washington Real Estate Investment Trust had a negative return on equity of 1.41% and a negative net margin of 6.46%. Washington Real Estate Investment Trust's revenue for the quarter was down 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.37 earnings per share.

A number of equities analysts recently issued reports on the stock. Zacks Investment Research cut shares of Washington Real Estate Investment Trust from a "hold" rating to a "strong sell" rating in a research report on Tuesday, June 22nd. TheStreet raised shares of Washington Real Estate Investment Trust from a "d+" rating to a "c-" rating in a report on Thursday, April 29th. Finally, Raymond James lowered shares of Washington Real Estate Investment Trust from an "outperform" rating to a "market perform" rating in a report on Thursday, June 17th. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company. The company presently has a consensus rating of "Hold" and an average target price of $23.75.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Baird Financial Group Inc. boosted its stake in shares of Washington Real Estate Investment Trust by 6.4% in the 4th quarter. Baird Financial Group Inc. now owns 16,531 shares of the real estate investment trust's stock valued at $358,000 after purchasing an additional 1,000 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of Washington Real Estate Investment Trust by 2.7% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 65,200 shares of the real estate investment trust's stock valued at $1,410,000 after purchasing an additional 1,700 shares during the last quarter. Credit Suisse AG boosted its stake in shares of Washington Real Estate Investment Trust by 30.7% in the 4th quarter. Credit Suisse AG now owns 216,078 shares of the real estate investment trust's stock valued at $4,674,000 after purchasing an additional 50,811 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Washington Real Estate Investment Trust by 4.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 49,421 shares of the real estate investment trust's stock valued at $1,069,000 after purchasing an additional 2,078 shares during the last quarter. Finally, Brown Advisory Inc. boosted its stake in shares of Washington Real Estate Investment Trust by 0.8% in the 4th quarter. Brown Advisory Inc. now owns 119,352 shares of the real estate investment trust's stock valued at $2,581,000 after purchasing an additional 952 shares during the last quarter. 87.52% of the stock is currently owned by hedge funds and other institutional investors.

WRE stock opened at $24.98 on Thursday. The stock's 50 day moving average is $24.00. The firm has a market cap of $2.11 billion, a PE ratio of -108.61 and a beta of 0.93. Washington Real Estate Investment Trust has a 1 year low of $16.95 and a 1 year high of $27.05. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.04 and a current ratio of 1.04.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 6th. Shareholders of record on Wednesday, June 23rd were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date was Tuesday, June 22nd. Washington Real Estate Investment Trust's payout ratio is 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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