Raymond James Raises Washington Real Estate Investment Trust (NYSE:WRE) Price Target to $32.50

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Washington Real Estate Investment Trust (NYSE:WRE) had its price target boosted by investment analysts at Raymond James from $30.00 to $32.50 in a report issued on Wednesday, October 30th, Stock Target Advisor reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. Raymond James’ price target would indicate a potential upside of 5.62% from the company’s current price.

Separately, Zacks Investment Research cut shares of Washington Real Estate Investment Trust from a “hold” rating to a “sell” rating in a research note on Saturday, October 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Washington Real Estate Investment Trust presently has a consensus rating of “Hold” and a consensus target price of $29.13.

Shares of NYSE WRE traded up $0.03 during midday trading on Wednesday, reaching $30.77. The company’s stock had a trading volume of 165,563 shares, compared to its average volume of 563,822. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.95. Washington Real Estate Investment Trust has a fifty-two week low of $22.53 and a fifty-two week high of $31.41. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 18.15 and a beta of 0.91. The stock has a 50 day simple moving average of $28.85 and a 200-day simple moving average of $27.59.

Washington Real Estate Investment Trust (NYSE:WRE) last released its earnings results on Thursday, October 24th. The real estate investment trust reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.49). Washington Real Estate Investment Trust had a net margin of 103.68% and a negative return on equity of 0.55%. The firm had revenue of $80.26 million during the quarter, compared to the consensus estimate of $78.81 million. During the same period in the prior year, the business posted $0.45 earnings per share. Washington Real Estate Investment Trust’s quarterly revenue was up 13.0% compared to the same quarter last year. As a group, equities analysts anticipate that Washington Real Estate Investment Trust will post 1.72 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC boosted its position in Washington Real Estate Investment Trust by 23.4% during the second quarter. Janus Henderson Group PLC now owns 737,076 shares of the real estate investment trust’s stock worth $19,698,000 after purchasing an additional 139,545 shares during the period. Pinebridge Investments L.P. boosted its position in Washington Real Estate Investment Trust by 11.8% during the second quarter. Pinebridge Investments L.P. now owns 64,911 shares of the real estate investment trust’s stock worth $1,735,000 after purchasing an additional 6,859 shares during the period. Palladium Partners LLC boosted its position in shares of Washington Real Estate Investment Trust by 320.6% in the second quarter. Palladium Partners LLC now owns 112,463 shares of the real estate investment trust’s stock valued at $3,006,000 after acquiring an additional 85,723 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Washington Real Estate Investment Trust by 82.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 93,810 shares of the real estate investment trust’s stock valued at $2,508,000 after acquiring an additional 42,400 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Washington Real Estate Investment Trust by 17.8% in the second quarter. JPMorgan Chase & Co. now owns 214,259 shares of the real estate investment trust’s stock valued at $5,702,000 after acquiring an additional 32,326 shares during the period. 89.44% of the stock is owned by hedge funds and other institutional investors.

About Washington Real Estate Investment Trust

Washington REIT owns and operates uniquely positioned real estate assets in the Washington DC market. Backed by decades of experience, expertise and ambition, we create value by transforming insights into strategy and strategy into action. Our portfolio of 48 properties includes approximately 6.1 million square feet of commercial space and 4,268 multifamily apartment units.

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