Washington Real Estate Investment Trust (NYSE: WRE) cuts sales at Zacks Investment Research

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Washington Real Estate Investment Trust (NYSE: WRE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “WASHINGTON RE INV. TRUST is a qualified self-directed real estate investment trust. The business of the trust is to own income generating real estate properties primarily in the greater Washington-Baltimore area. The trust has a strategy of regional orientation, diversified ownership type and prudent financial management. “

Other equity research analysts have also recently published research reports on the stock. BTIG Research assumed coverage of the Washington Real Estate Investment Trust shares in a research report released on Friday, October 1. They set a “buy” rating and a price target of $ 28.50 for the company. Wells Fargo & Company raised its price target for Washington Real Estate Investment Trust shares from $ 24.00 to $ 25 and gave the company an “equal weight” rating in a research report on Thursday, September 30. One analyst assigned a sell rating to the stock, two assigned a conservation rating, and another assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $ 26.50.

WRE shares opened at $ 25.60 on Wednesday. The fifty-day moving average for the stock is $ 25.49. The company has a debt to equity ratio of 0.38, a current ratio of 8.31 and a rapid ratio of 8.31. Washington Real Estate Investment Trust has a 12 month low of $ 20.74 and a 12 month high of $ 27.05. The company has a market cap of $ 2.17 billion, a P / E ratio of 182.86 and a beta of 0.87.

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Washington Real Estate Investment Trust (NYSE: WRE) last released its quarterly earnings data on Thursday, October 28. The REIT reported ($ 0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters consensus estimate of $ 0.21 ($ 0.47). Washington Real Estate Investment Trust recorded a negative return on equity of 3.95% and a net margin of 5.41%. The company posted revenue of $ 42.50 million for the quarter, compared to a consensus estimate of $ 44.44 million. During the same period of the previous year, the company earned $ 0.36 per share. The company’s revenue was down 2.7% year-on-year. As a group, sell-side analysts predict that Washington Real Estate Investment Trust will post earnings per share of 1.07 for the current fiscal year.

Several institutional investors and hedge funds have recently changed their positions in WRE. Comerica Bank increased its stake in Washington Real Estate Investment Trust shares by 96.9% during the 3rd quarter. Comerica Bank now owns 155,889 real estate investment trust shares worth $ 3,860,000 after purchasing an additional 76,722 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Washington Real Estate Investment Trust by 1.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,150,900 real estate investment trust shares worth $ 28,485,000 after purchasing an additional 15,146 shares in the last quarter. Cetera Advisor Networks LLC acquired a new stake in Washington Real Estate Investment Trust in the 3rd quarter for a value of approximately $ 203,000. BNP Paribas Arbitrage SA increased its stake in Washington Real Estate Investment Trust by 32.9% in the 3rd quarter. BNP Paribas Arbitrage SA now holds 94,356 shares of the property investment fund with a value of $ 2,335,000 after purchasing 23,356 additional shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new stake in Washington Real Estate Investment Trust in the 3rd quarter for a value of approximately $ 211,000. 91.79% of the shares are held by institutional investors.

About Washington Real Estate Investment Trust

Washington Real Estate Investment Trust engages in the ownership and operation of income generating real estate properties. It operates through the following segments: Office and Multifamily. The Office segment provides office space for various types of businesses and professions. The Multi-Family segment provides rental housing to individuals and families throughout the Washington metro area.

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