Washington Real Estate Investment Trust (NYSE:WRE) Expected to Post Quarterly Sales of $45.41 Million

Equities research analysts forecast that Washington Real Estate Investment Trust (NYSE:WRE) will announce sales of $45.41 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Washington Real Estate Investment Trust’s earnings. The highest sales estimate is $45.87 million and the lowest is $44.70 million. Washington Real Estate Investment Trust reported sales of $71.23 million in the same quarter last year, which suggests a negative year-over-year growth rate of 36.2%. The business is scheduled to report its next quarterly earnings report after the market closes on Thursday, February 17th.

On average, analysts expect that Washington Real Estate Investment Trust will report full year sales of $179.50 million for the current fiscal year, with estimates ranging from $169.11 million to $199.10 million. For the next financial year, analysts anticipate that the company will report sales of $208.61 million, with estimates ranging from $206.22 million to $211.17 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Washington Real Estate Investment Trust.

A number of equities analysts have weighed in on WRE shares. BTIG Research upped their price target on Washington Real Estate Investment Trust from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, December 13th. Wells Fargo & Company increased their price objective on Washington Real Estate Investment Trust from $25.00 to $27.00 and gave the company an “equal weight” rating in a report on Wednesday, December 1st. Zacks Investment Research raised Washington Real Estate Investment Trust from a “sell” rating to a “hold” rating in a report on Thursday, December 9th. Finally, Truist Financial cut their price target on Washington Real Estate Investment Trust from $24.00 to $23.00 and set a “hold” rating for the company in a report on Monday, December 6th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $26.25.

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NYSE:WRE opened at $24.68 on Wednesday. Washington Real Estate Investment Trust has a twelve month low of $21.77 and a twelve month high of $27.05. The company has a current ratio of 8.31, a quick ratio of 8.31 and a debt-to-equity ratio of 0.38. The business’s 50 day moving average price is $25.52. The firm has a market cap of $2.09 billion, a P/E ratio of 176.29 and a beta of 0.86.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Widmann Financial Services Inc. acquired a new stake in Washington Real Estate Investment Trust in the fourth quarter valued at about $25,000. Trust Co. of Vermont acquired a new stake in shares of Washington Real Estate Investment Trust during the fourth quarter valued at about $32,000. JFS Wealth Advisors LLC acquired a new position in shares of Washington Real Estate Investment Trust in the third quarter worth approximately $42,000. Koshinski Asset Management Inc. acquired a new position in shares of Washington Real Estate Investment Trust in the third quarter worth approximately $50,000. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Washington Real Estate Investment Trust by 49.3% in the third quarter. Geneos Wealth Management Inc. now owns 2,240 shares of the real estate investment trust’s stock worth $57,000 after acquiring an additional 740 shares during the period. Institutional investors own 91.16% of the company’s stock.

About Washington Real Estate Investment Trust

Washington Real Estate Investment Trust engages in the ownership and operation of income-producing real estate properties. It operates through the following segments: Office and Multifamily. The Office segment provides office space for various types of businesses and professions. The Multifamily segment provides rental housing for individuals and families throughout Washington metro region.

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