Washington Real Estate Investment Trust (NYSE:WRE) Price Target Cut to $24.00 by Analysts at JPMorgan Chase & Co.

Washington Real Estate Investment Trust (NYSE:WRE – Get Rating) had its target price lowered by equities research analysts at JPMorgan Chase & Co. from $26.00 to $24.00 in a research report issued to clients and investors on Tuesday, The Fly reports. JPMorgan Chase & Co.‘s price objective points to a potential upside of 8.16% from the stock’s previous close.

Separately, StockNews.com assumed coverage on Washington Real Estate Investment Trust in a report on Thursday, March 31st. They issued a “sell” rating for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $25.75.

WRE traded down $0.75 during trading on Tuesday, hitting $22.19. The stock had a trading volume of 17,245 shares, compared to its average volume of 473,021. The company has a 50 day simple moving average of $24.27 and a 200-day simple moving average of $24.68. Washington Real Estate Investment Trust has a 12 month low of $22.23 and a 12 month high of $26.92. 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 firm has a market cap of $1.94 billion, a PE ratio of 184.92 and a beta of 0.85.

Several large investors have recently made changes to their positions in WRE. Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of Washington Real Estate Investment Trust during the 1st quarter valued at about $378,000. First Manhattan Co. lifted its holdings in shares of Washington Real Estate Investment Trust by 435.1% in the 1st quarter. First Manhattan Co. now owns 1,402 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 1,140 shares during the period. Guggenheim Capital LLC lifted its position in shares of Washington Real Estate Investment Trust by 41.7% during the first quarter. Guggenheim Capital LLC now owns 12,272 shares of the real estate investment trust’s stock valued at $313,000 after buying an additional 3,611 shares during the last quarter. Highland Capital Management Fund Advisors L.P. bought a new position in shares of Washington Real Estate Investment Trust during the 1st quarter worth approximately $9,968,000. Finally, State Street Corp grew its position in Washington Real Estate Investment Trust by 13.5% during the 1st quarter. State Street Corp now owns 5,257,101 shares of the real estate investment trust’s stock worth $134,931,000 after purchasing an additional 626,534 shares during the last quarter. 90.75% of the stock is owned by hedge funds and other institutional investors.

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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