Analysts Set Washington Real Estate Investment Trust (NYSE:WRE) Target Price at $28.50

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Shares of Washington Real Estate Investment Trust (NYSE:WRE) have received an average rating of “Hold” from the six analysts that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $28.50.

Several equities analysts recently weighed in on the stock. Robert W. Baird lowered shares of Washington Real Estate Investment Trust from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $30.00 to $28.00 in a report on Tuesday, May 14th. Zacks Investment Research lowered shares of Washington Real Estate Investment Trust from a “hold” rating to a “sell” rating in a report on Saturday, August 3rd.

A number of institutional investors have recently added to or reduced their stakes in the stock. Municipal Employees Retirement System of Michigan increased its stake in Washington Real Estate Investment Trust by 1.7% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 23,910 shares of the real estate investment trust’s stock worth $639,000 after buying an additional 410 shares during the period. Profund Advisors LLC increased its stake in Washington Real Estate Investment Trust by 3.5% during the 2nd quarter. Profund Advisors LLC now owns 12,563 shares of the real estate investment trust’s stock worth $336,000 after buying an additional 424 shares during the period. Moors & Cabot Inc. increased its stake in Washington Real Estate Investment Trust by 0.9% during the 2nd quarter. Moors & Cabot Inc. now owns 72,116 shares of the real estate investment trust’s stock worth $1,923,000 after buying an additional 633 shares during the period. Daiwa Securities Group Inc. increased its stake in Washington Real Estate Investment Trust by 6.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 13,100 shares of the real estate investment trust’s stock worth $372,000 after buying an additional 800 shares during the period. Finally, Arizona State Retirement System increased its stake in Washington Real Estate Investment Trust by 0.7% during the 2nd quarter. Arizona State Retirement System now owns 124,150 shares of the real estate investment trust’s stock worth $3,319,000 after buying an additional 841 shares during the period. 87.42% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:WRE traded up $0.15 during midday trading on Thursday, hitting $26.15. 202,147 shares of the company’s stock traded hands, compared to its average volume of 657,933. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market cap of $2.09 billion, a PE ratio of 14.06, a P/E/G ratio of 15.24 and a beta of 0.92. The firm’s fifty day moving average price is $27.02 and its two-hundred day moving average price is $27.32. Washington Real Estate Investment Trust has a twelve month low of $22.53 and a twelve month high of $31.85.

Washington Real Estate Investment Trust (NYSE:WRE) last posted its earnings results on Thursday, July 25th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.44). The business had revenue of $76.82 million for the quarter, compared to analyst estimates of $85.76 million. Washington Real Estate Investment Trust had a net margin of 2.51% and a return on equity of 0.78%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.48 EPS. As a group, equities research analysts anticipate that Washington Real Estate Investment Trust will post 1.72 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend is Friday, September 13th. Washington Real Estate Investment Trust’s dividend payout ratio (DPR) is 64.52%.

Washington Real Estate Investment Trust Company Profile

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.

Read More: What does an equal weight rating mean?

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

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