Washington Real Estate Investment Trust (WRE) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research cut shares of Washington Real Estate Investment Trust (NYSE:WRE) from a buy rating to a hold rating in a research report sent to investors on Saturday.

According to Zacks, “WASHINGTON R.E. INV. TRUST is a self-administered qualified equity real estate investment trust. The Trust’s business consists of the ownership of income-producing real estate properties principally in the Greater Washington-Baltimore Region. The Trust has a fundamental strategy of regional focus, diversified property type ownership and conservative financial management. “

Other research analysts have also issued research reports about the company. Stifel Nicolaus reaffirmed a hold rating and set a $33.00 price objective on shares of Washington Real Estate Investment Trust in a research report on Friday, July 14th. BidaskClub lowered Washington Real Estate Investment Trust from a hold rating to a sell rating in a research report on Tuesday, July 11th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Washington Real Estate Investment Trust currently has an average rating of Buy and a consensus target price of $34.58.

Washington Real Estate Investment Trust (NYSE:WRE) opened at 33.24 on Friday. The stock has a market cap of $2.56 billion, a PE ratio of 25.14 and a beta of 0.97. The company’s 50 day moving average price is $32.86 and its 200 day moving average price is $32.35. Washington Real Estate Investment Trust has a 12 month low of $27.65 and a 12 month high of $33.96.

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The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date was Thursday, September 14th. Washington Real Estate Investment Trust’s payout ratio is 90.23%.

Several institutional investors have recently bought and sold shares of WRE. BlackRock Inc. increased its holdings in shares of Washington Real Estate Investment Trust by 6,009.6% in the 1st quarter. BlackRock Inc. now owns 6,664,532 shares of the real estate investment trust’s stock worth $208,468,000 after purchasing an additional 6,555,449 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Washington Real Estate Investment Trust by 285.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,400,962 shares of the real estate investment trust’s stock worth $76,591,000 after purchasing an additional 1,777,764 shares in the last quarter. FMR LLC increased its holdings in shares of Washington Real Estate Investment Trust by 28.3% in the 2nd quarter. FMR LLC now owns 2,338,600 shares of the real estate investment trust’s stock worth $74,601,000 after purchasing an additional 516,000 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Washington Real Estate Investment Trust by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 11,847,686 shares of the real estate investment trust’s stock worth $370,595,000 after purchasing an additional 444,191 shares in the last quarter. Finally, Weiss Multi Strategy Advisers LLC bought a new stake in shares of Washington Real Estate Investment Trust in the 1st quarter worth $11,051,000. 84.99% of the stock is owned by institutional investors and hedge funds.

About Washington Real Estate Investment Trust

Washington Real Estate Investment Trust is a self-administered equity real estate investment trust. The Company’s business consists of the ownership and operation of real property in the greater Washington metro region. The Company owns a diversified portfolio of office buildings, multifamily buildings and retail centers.

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