Washington Real Estate Investment Trust (NYSE:WRE) Price Target Increased to $32.50 by Analysts at Raymond James

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

Separately, Zacks Investment Research lowered 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 issued a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $29.13.

Washington Real Estate Investment Trust stock traded up $0.03 during trading hours on Wednesday, reaching $30.77. 165,563 shares of the company were exchanged, compared to its average volume of 563,822. Washington Real Estate Investment Trust has a 12 month low of $22.53 and a 12 month high of $31.41. The firm has a market cap 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 moving average of $28.85 and a 200 day moving average of $27.59. 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 (NYSE:WRE) last issued its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.49). The business had revenue of $80.26 million for the quarter, compared to analyst estimates of $78.81 million. Washington Real Estate Investment Trust had a negative return on equity of 0.55% and a net margin of 103.68%. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.45 earnings per share. As a group, research analysts forecast that Washington Real Estate Investment Trust will post 1.72 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in WRE. Municipal Employees Retirement System of Michigan boosted its holdings in Washington Real Estate Investment Trust by 1.7% in the second quarter. Municipal Employees Retirement System of Michigan now owns 23,910 shares of the real estate investment trust’s stock valued at $639,000 after acquiring an additional 410 shares during the last quarter. Profund Advisors LLC boosted its holdings in Washington Real Estate Investment Trust by 3.5% during the second quarter. Profund Advisors LLC now owns 12,563 shares of the real estate investment trust’s stock worth $336,000 after buying an additional 424 shares during the last quarter. Mason Street Advisors LLC boosted its holdings in Washington Real Estate Investment Trust by 1.8% during the third quarter. Mason Street Advisors LLC now owns 27,193 shares of the real estate investment trust’s stock worth $744,000 after buying an additional 478 shares during the last quarter. Moors & Cabot Inc. boosted its holdings in Washington Real Estate Investment Trust by 0.9% during the second quarter. Moors & Cabot Inc. now owns 72,116 shares of the real estate investment trust’s stock worth $1,923,000 after buying an additional 633 shares during the last quarter. Finally, Arizona State Retirement System boosted its holdings in Washington Real Estate Investment Trust by 0.7% during the second quarter. Arizona State Retirement System now owns 124,150 shares of the real estate investment trust’s stock worth $3,319,000 after buying an additional 841 shares during the last quarter. Hedge funds and other institutional investors own 89.44% of the company’s stock.

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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