Wall Street analysts forecast that Washington Real Estate Investment Trust (NYSE:WRE – Get Rating) will report sales of $47.33 million for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Washington Real Estate Investment Trust’s earnings, with estimates ranging from $46.31 million to $48.34 million. Washington Real Estate Investment Trust reported sales of $69.63 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 32%. The company is expected to issue its next earnings results after the market closes on Monday, January 1st.
According to Zacks, analysts expect that Washington Real Estate Investment Trust will report full year sales of $208.24 million for the current fiscal year, with estimates ranging from $200.79 million to $215.56 million. For the next year, analysts expect that the business will report sales of $227.14 million, with estimates ranging from $202.75 million to $235.99 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Washington Real Estate Investment Trust.
Several brokerages recently weighed in on WRE. Zacks Investment Research raised shares of Washington Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research report on Friday, February 25th. Truist Financial dropped their target price on shares of Washington Real Estate Investment Trust from $24.00 to $23.00 and set a “hold” rating on the stock in a research report on Monday, December 6th. BTIG Research lifted their target price on shares of Washington Real Estate Investment Trust from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, December 13th. Finally, StockNews.com started coverage on shares of Washington Real Estate Investment Trust in a research report on Thursday, March 31st. They set a “sell” rating on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $26.25.
Shares of NYSE WRE opened at $25.57 on Tuesday. Washington Real Estate Investment Trust has a fifty-two week low of $22.23 and a fifty-two week high of $27.05. The company has a market cap of $2.24 billion, a PE ratio of 134.58 and a beta of 0.87. The company has a debt-to-equity ratio of 0.38, a quick ratio of 6.14 and a current ratio of 6.14. The company has a 50-day simple moving average of $24.29.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 5th. Investors of record on Wednesday, March 23rd will be paid a $0.17 dividend. The ex-dividend date is Tuesday, March 22nd. This represents a $0.68 dividend on an annualized basis and a yield of 2.66%. Washington Real Estate Investment Trust’s dividend payout ratio is 357.89%.
A number of institutional investors have recently added to or reduced their stakes in WRE. Morgan Stanley grew its stake in Washington Real Estate Investment Trust by 38.6% in the 2nd quarter. Morgan Stanley now owns 386,877 shares of the real estate investment trust’s stock valued at $8,898,000 after buying an additional 107,663 shares in the last quarter. Parametric Portfolio Associates LLC grew its stake in Washington Real Estate Investment Trust by 23.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 155,714 shares of the real estate investment trust’s stock valued at $3,581,000 after buying an additional 29,211 shares in the last quarter. Private Advisor Group LLC grew its position in shares of Washington Real Estate Investment Trust by 122.2% during the 3rd quarter. Private Advisor Group LLC now owns 48,612 shares of the real estate investment trust’s stock valued at $1,204,000 after purchasing an additional 26,730 shares in the last quarter. Everence Capital Management Inc. grew its position in shares of Washington Real Estate Investment Trust by 126.4% during the 3rd quarter. Everence Capital Management Inc. now owns 21,530 shares of the real estate investment trust’s stock valued at $533,000 after purchasing an additional 12,020 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Washington Real Estate Investment Trust by 0.4% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 119,464 shares of the real estate investment trust’s stock valued at $2,957,000 after purchasing an additional 534 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.
About Washington Real Estate Investment Trust (Get Rating)
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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