StockNews.com Initiates Coverage on Washington Real Estate Investment Trust (NYSE:WRE)

StockNews.com started coverage on shares of Washington Real Estate Investment Trust (NYSE:WRE – Get Rating) in a note issued to investors on Thursday. The firm set a “sell” rating on the real estate investment trust’s stock.

Several other research analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Washington Real Estate Investment Trust from a “sell” rating to a “hold” rating in a report on Friday, February 25th. BTIG Research upped their price target on shares of 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. Truist Financial dropped their price target on shares of Washington Real Estate Investment Trust from $24.00 to $23.00 and set a “hold” rating on the stock in a research report on Monday, December 6th. Finally, Wells Fargo & Company upped their price target on shares of Washington Real Estate Investment Trust from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $26.25.

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Shares of WRE opened at $25.61 on Thursday. Washington Real Estate Investment Trust has a 12 month low of $22.09 and a 12 month high of $27.05. The stock’s fifty day simple moving average is $24.23. The firm has a market capitalization of $2.24 billion, a PE ratio of 134.79 and a beta of 0.86. The company has a debt-to-equity ratio of 0.38, a current ratio of 6.14 and a quick ratio of 6.14.

Several institutional investors and hedge funds have recently modified their holdings of WRE. Widmann Financial Services Inc. bought a new position in shares of Washington Real Estate Investment Trust in the fourth quarter valued at about $25,000. Trust Co. of Vermont bought a new position in shares of Washington Real Estate Investment Trust in the fourth quarter valued at about $32,000. JFS Wealth Advisors LLC bought a new position in shares of Washington Real Estate Investment Trust in the third quarter valued at about $42,000. Mitsubishi UFJ Trust & Banking Corp increased its position in Washington Real Estate Investment Trust by 232.0% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,693 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 1,183 shares during the period. Finally, Koshinski Asset Management Inc. bought a new position in Washington Real Estate Investment Trust during the third quarter worth about $50,000. 94.05% of the stock is currently owned by 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.

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