Inspire Investing LLC Invests $235,000 in Washington Real Estate Investment Trust (NYSE:WRE)
Inspire Investing LLC purchased a new position in Washington Real Estate Investment Trust (NYSE:WRE – Get Rating) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,221 shares of the real estate investment trust’s stock, valued at approximately $235,000.
Other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its holdings in shares of Washington Real Estate Investment Trust by 230.6% in the fourth quarter. SG Americas Securities LLC now owns 63,033 shares of the real estate investment trust’s stock worth $1,629,000 after purchasing an additional 43,967 shares during the period. Morgan Stanley increased its holdings in shares of Washington Real Estate Investment Trust by 2.8% in the third quarter. Morgan Stanley now owns 397,656 shares of the real estate investment trust’s stock worth $9,843,000 after purchasing an additional 10,779 shares during the period. Econ Financial Services Corp bought a new position in shares of Washington Real Estate Investment Trust in the fourth quarter worth $481,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Washington Real Estate Investment Trust by 5.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,290 shares of the real estate investment trust’s stock worth $628,000 after purchasing an additional 1,206 shares during the period. Finally, Nomura Asset Management Co.Ltd. increased its stake in Washington Real Estate Investment Trust by 2.9% in the fourth quarter. Nomura Asset Management Co.Ltd. now owns 70,730 shares of the real estate investment trust’s stock valued at $1,828,000 after acquiring an additional 2,000 shares during the last quarter. 90.75% of the stock is currently owned by hedge funds and other institutional investors.
NYSE WRE opened at $20.43 on Friday. The company has a 50-day simple moving average of $22.87 and a two-hundred day simple moving average of $24.15. The company has a quick ratio of 4.72, a current ratio of 4.72 and a debt-to-equity ratio of 0.38. Washington Real Estate Investment Trust has a 12-month low of $20.37 and a 12-month high of $26.79. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 170.25 and a beta of 0.87.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 6th. Shareholders of record on Wednesday, June 22nd were given a dividend of $0.17 per share. The ex-dividend date was Tuesday, June 21st. This represents a $0.68 annualized dividend and a yield of 3.33%. Washington Real Estate Investment Trust’s payout ratio is 566.67%.
WRE has been the topic of a number of research analyst reports. StockNews.com initiated coverage on Washington Real Estate Investment Trust in a research note on Thursday, March 31st. They issued a “sell” rating on the stock. JPMorgan Chase & Co. reduced their target price on Washington Real Estate Investment Trust from $26.00 to $24.00 in a research note on Tuesday, June 14th. Wells Fargo & Company reduced their target price on Washington Real Estate Investment Trust from $26.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Friday, July 1st. Finally, The Street cut Washington Real Estate Investment Trust from a “c-” rating to a “d+” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $24.25.
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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