May 20, 2024

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Washington Real Estate Investment Trust (NYSE:WREGet Rating) updated its FY 2023 earnings guidance on Tuesday. The company provided earnings per share guidance of $0.96-$1.04 for the period. The company issued revenue guidance of -. Washington Real Estate Investment Trust also updated its FY 2022 guidance to $0.86-$0.90 EPS.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Washington Real Estate Investment Trust from $26.00 to $24.00 in a research note on Tuesday, June 14th. StockNews.com cut shares of Washington Real Estate Investment Trust from a hold rating to a sell rating in a research note on Tuesday, August 23rd. Wells Fargo & Company reduced their price objective on shares of Washington Real Estate Investment Trust from $26.00 to $21.00 and set an equal weight rating on the stock in a research note on Friday, July 1st. Finally, TheStreet cut shares of Washington Real Estate Investment Trust from a c- rating to a d+ rating in a research note on Wednesday, July 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, Washington Real Estate Investment Trust currently has an average rating of Hold and a consensus price target of $24.25.

Washington Real Estate Investment Trust Price Performance

Shares of WRE stock opened at $17.63 on Tuesday. Washington Real Estate Investment Trust has a 52-week low of $17.14 and a 52-week high of $26.79. The stock has a market cap of $1.54 billion, a PE ratio of 176.30 and a beta of 0.89. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.59 and a current ratio of 1.59. The firm’s 50 day moving average price is $20.21 and its two-hundred day moving average price is $22.28.

Washington Real Estate Investment Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Wednesday, September 21st will be issued a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, September 20th. This represents a $0.68 annualized dividend and a yield of 3.86%. Washington Real Estate Investment Trust’s dividend payout ratio (DPR) is presently 680.00%.

Institutional Investors Weigh In On Washington Real Estate Investment Trust

Several hedge funds have recently bought and sold shares of the company. Captrust Financial Advisors acquired a new stake in Washington Real Estate Investment Trust in the second quarter worth $151,000. Legal & General Group Plc raised its holdings in Washington Real Estate Investment Trust by 5.1% in the second quarter. Legal & General Group Plc now owns 750,503 shares of the real estate investment trust’s stock worth $15,993,000 after purchasing an additional 36,593 shares during the period. Goldman Sachs Group Inc. raised its holdings in Washington Real Estate Investment Trust by 9.6% in the second quarter. Goldman Sachs Group Inc. now owns 134,366 shares of the real estate investment trust’s stock worth $2,863,000 after purchasing an additional 11,762 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its holdings in Washington Real Estate Investment Trust by 65.4% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 24,514 shares of the real estate investment trust’s stock worth $522,000 after purchasing an additional 9,692 shares during the period. Finally, Thrivent Financial for Lutherans raised its holdings in Washington Real Estate Investment Trust by 24.7% in the second quarter. Thrivent Financial for Lutherans now owns 85,893 shares of the real estate investment trust’s stock worth $1,830,000 after purchasing an additional 16,993 shares during the period. 90.17% of the stock is currently owned by institutional investors and hedge funds.

Washington Real Estate Investment Trust Company Profile

(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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Earnings History and Estimates for Washington Real Estate Investment Trust (NYSE:WRE)
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