abrdn plc Grows Stake in Washington Real Estate Investment Trust (NYSE:WRE)

abrdn plc grew its position in shares of Washington Real Estate Investment Trust (NYSE:WRE – Get Rating) by 3.3% in the first quarter, Holdings Channel reports. The firm owned 18,787 shares of the real estate investment trust’s stock after purchasing an additional 592 shares during the period. abrdn plc’s holdings in Washington Real Estate Investment Trust were worth $481,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. State Street Corp grew its position in shares of Washington Real Estate Investment Trust by 3.6% during the 4th quarter. State Street Corp now owns 4,630,567 shares of the real estate investment trust’s stock valued at $120,484,000 after purchasing an additional 161,638 shares in the last quarter. Schroder Investment Management Group grew its position in Washington Real Estate Investment Trust by 12.5% ​​in the fourth quarter. Schroder Investment Management Group now owns 1,832,975 shares of the real estate investment trust’s stock worth $47,382,000 after acquiring an additional 204,186 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Washington Real Estate Investment Trust by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,230,581 shares of the real estate investment trust’s stock worth $31,811,000 after acquiring an additional 34,198 shares in the last quarter. JPMorgan Chase & Co. increased its position in Washington Real Estate Investment Trust by 42.5% in the fourth quarter. JPMorgan Chase & Co. now owns 509,089 shares of the real estate investment trust’s stock worth $13,160,000 after acquiring an additional 151,838 shares in the last quarter. Finally, Bank of America Corp DE grew its position in Washington Real Estate Investment Trust by 4.2% in the fourth quarter. Bank of America Corp DE now owns 373,751 shares of the real estate investment trust’s stock worth $9,661,000 after acquiring an additional 14,984 shares in the last quarter. 90.75% of the stock is currently owned by hedge funds and other institutional investors.

Washington Real Estate Investment Trust Stock Performance

NYSE WRE opened at $20.86 on Thursday. The company has a 50-day simple moving average of $22.11 and a two-hundred day simple moving average of $23.56. The company has a quick ratio of 4.72, a current ratio of 1.59 and a debt-to-equity ratio of 0.44. Washington Real Estate Investment Trust has a 12-month low of $20.06 and a 12-month high of $26.79. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 208.60 and a beta of 0.85.

Washington Real Estate Investment Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Wednesday, September 21st will be given a dividend of $0.17 per share. The ex-dividend date is Tuesday, September 20th. This represents a $0.68 annualized dividend and a yield of 3.26%. Washington Real Estate Investment Trust’s payout ratio is 680.00%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WRE. Wells Fargo & Company cut their target price on shares of Washington Real Estate Investment Trust from $26.00 to $21.00 and set an “equal weight” rating for the company in a research report on Friday, July 1st. The Street lowered shares of Washington Real Estate Investment Trust from a “c-” rating to a “d+” rating in a research report on Wednesday, July 6th. Finally, JPMorgan Chase & Co. cut their target price on shares of Washington Real Estate Investment Trust from $26.00 to $24.00 in a research report on Tuesday, June 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Washington Real Estate Investment Trust currently has an average rating of “Hold” and a consensus target price of $24.25.

About Washington Real Estate Investment Trust

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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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Institutional Ownership by Quarter for Washington Real Estate Investment Trust (NYSE:WRE)

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