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

Washington Real Estate Investment Trust (NYSE:WREGet Rating) had its target price reduced by JPMorgan Chase & Co. from $26.00 to $24.00 in a research report released on Tuesday morning, The Fly reports.

Separately, StockNews.com started coverage on shares of Washington Real Estate Investment Trust in a research report on Thursday, March 31st. They set a sell rating on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $25.75.

Washington Real Estate Investment Trust stock opened at $22.09 on Tuesday. The stock has a market cap of $1.93 billion, a P/E ratio of 184.08 and a beta of 0.85. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.72 and a quick ratio of 4.72. Washington Real Estate Investment Trust has a 1 year low of $21.96 and a 1 year high of $26.79. The firm’s 50 day moving average price is $24.16 and its 200-day moving average price is $24.64.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 6th. Shareholders of record on Wednesday, June 22nd will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Tuesday, June 21st. Washington Real Estate Investment Trust’s payout ratio is 566.67%.

Several institutional investors and hedge funds have recently modified their holdings of WRE. Allspring Global Investments Holdings LLC purchased a new stake in shares of Washington Real Estate Investment Trust during the fourth quarter valued at $47,217,000. Norges Bank purchased a new stake in shares of Washington Real Estate Investment Trust during the fourth quarter valued at $19,614,000. State Street Corp boosted its stake in shares of Washington Real Estate Investment Trust by 13.5% during the first quarter. State Street Corp now owns 5,257,101 shares of the real estate investment trust’s stock valued at $134,931,000 after purchasing an additional 626,534 shares during the period. BlackRock Inc. lifted its stake in Washington Real Estate Investment Trust by 3.3% in the fourth quarter. BlackRock Inc. now owns 15,984,446 shares of the real estate investment trust’s stock worth $413,198,000 after acquiring an additional 503,512 shares during the period. Finally, First Pacific Advisors LP purchased a new stake in Washington Real Estate Investment Trust in the first quarter worth about $12,714,000. 90.75% of the stock is owned by hedge funds and other institutional investors.

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.

Featured Stories

The Fly logo

Receive News & Ratings for Washington Real Estate Investment Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Washington Real Estate Investment Trust and related companies with MarketBeat.com's FREE daily email newsletter.