Washington Real Estate Investment Trust (NYSE:WRE) Receives Consensus Rating of “Hold” from Analysts

Shares of Washington Real Estate Investment Trust (NYSE:WREGet Rating) have earned an average recommendation of “Hold” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $26.33.

A number of research firms recently weighed in on WRE. Zacks Investment Research lowered shares of Washington Real Estate Investment Trust from a “buy” rating to a “hold” rating in a report on Wednesday. StockNews.com started coverage on shares of Washington Real Estate Investment Trust in a report on Thursday, March 31st. They set a “sell” rating for the company.

A number of hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. grew its holdings in Washington Real Estate Investment Trust by 69.3% during the 1st quarter. Victory Capital Management Inc. now owns 20,844 shares of the real estate investment trust’s stock worth $502,000 after acquiring an additional 8,532 shares in the last quarter. abrdn plc lifted its position in shares of Washington Real Estate Investment Trust by 3.3% in the 1st quarter. abrdn plc now owns 18,787 shares of the real estate investment trust’s stock worth $481,000 after buying an additional 592 shares during the last quarter. Sandy Spring Bank lifted its position in shares of Washington Real Estate Investment Trust by 27.1% in the 1st quarter. Sandy Spring Bank now owns 16,901 shares of the real estate investment trust’s stock worth $431,000 after buying an additional 3,601 shares during the last quarter. Groesbeck Investment Management Corp NJ bought a new position in shares of Washington Real Estate Investment Trust in the 1st quarter worth about $255,000. Finally, Outfitter Financial LLC lifted its position in shares of Washington Real Estate Investment Trust by 2.5% in the 1st quarter. Outfitter Financial LLC now owns 63,998 shares of the real estate investment trust’s stock worth $1,632,000 after buying an additional 1,545 shares during the last quarter. 90.75% of the stock is owned by institutional investors.

WRE opened at $24.13 on Thursday. The company has a fifty day simple moving average of $24.72 and a 200 day simple moving average of $25.06. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 201.08 and a beta of 0.85. Washington Real Estate Investment Trust has a twelve month low of $22.23 and a twelve month high of $27.05. The company has a current ratio of 4.72, a quick ratio of 4.72 and a debt-to-equity ratio of 0.38.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 6th. Shareholders of record on Wednesday, June 22nd will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.82%. The ex-dividend date is Tuesday, June 21st. Washington Real Estate Investment Trust’s dividend payout ratio is currently 566.67%.

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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