Washington Real Estate Investment Trust (NYSE:WRE) has been assigned a consensus recommendation of “Hold” from the six ratings firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $24.20.

WRE has been the topic of several recent research reports. Raymond James cut their target price on Washington Real Estate Investment Trust from $28.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, July 15th. Zacks Investment Research lowered Washington Real Estate Investment Trust from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. JPMorgan Chase & Co. upgraded Washington Real Estate Investment Trust from an “underweight” rating to a “neutral” rating and raised their target price for the company from $22.00 to $24.00 in a report on Thursday, July 2nd. Wells Fargo & Company cut their target price on Washington Real Estate Investment Trust from $29.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, Capital One Financial lowered Washington Real Estate Investment Trust from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $28.00 to $24.00 in a report on Friday.

Shares of NYSE:WRE opened at $19.33 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.81. Washington Real Estate Investment Trust has a 1 year low of $18.01 and a 1 year high of $32.22. The business has a fifty day simple moving average of $21.89 and a 200 day simple moving average of $22.38. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 4.06 and a beta of 0.73.

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Washington Real Estate Investment Trust (NYSE:WRE) last announced its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.44). Washington Real Estate Investment Trust had a return on equity of 3.10% and a net margin of 123.40%. The firm had revenue of $72.80 million for the quarter, compared to analysts’ expectations of $73.27 million. During the same quarter in the prior year, the business posted $0.47 earnings per share. Washington Real Estate Investment Trust’s revenue was down 5.2% on a year-over-year basis. On average, sell-side analysts forecast that Washington Real Estate Investment Trust will post 1.5 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Monday, September 21st will be paid a $0.30 dividend. The ex-dividend date is Friday, September 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.21%. Washington Real Estate Investment Trust’s payout ratio is presently 72.29%.

Institutional investors have recently bought and sold shares of the company. Private Advisor Group LLC bought a new position in shares of Washington Real Estate Investment Trust in the second quarter worth about $47,000. Sandy Spring Bank increased its stake in shares of Washington Real Estate Investment Trust by 31.2% in the second quarter. Sandy Spring Bank now owns 2,256 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 536 shares during the period. Glenmede Trust Co. NA increased its stake in shares of Washington Real Estate Investment Trust by 28.3% in the second quarter. Glenmede Trust Co. NA now owns 2,523 shares of the real estate investment trust’s stock worth $56,000 after purchasing an additional 557 shares during the period. Mutual of America Capital Management LLC increased its stake in shares of 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 worth $84,000 after purchasing an additional 652 shares during the period. Finally, Exchange Traded Concepts LLC bought a new position in shares of Washington Real Estate Investment Trust in the second quarter worth about $187,000. Institutional investors and hedge funds own 86.42% of the company’s stock.

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

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