Washington Real Estate Investment Trust (NYSE:WRE) Lowered to Sell at Zacks Investment Research

Washington Real Estate Investment Trust (NYSE: WRE) was downgraded from a “hold” rating to a “sell” rating by Zacks Investment Research in a research note released to investors on Wednesday, Zacks.com reports.

According to Zacks, “WASHINGTON RE INV. TRUST is a self-managed qualified real estate investment trust. The trust’s business consists of owning income generating real estate primarily in the Greater Washington-Baltimore region. The trust has a fundamental strategy of regional alignment, diversified ownership and conservative financial management. “

Other research analysts on stocks recently released research on the stock as well. BTIG Research assumed coverage of the shares of Washington Real Estate Investment Trust in a research report on Friday, October 1st. They set a “Buy” rating and a price target of $ 28.50 for the company. Wells Fargo & Company raised its price target on Washington Real Estate Investment Trust shares from $ 24.00 to $ 25.00 and rated the company “evenly” in a research report on Thursday, September 30th. One analyst has rated the stock with a sell rating, two with a hold rating, and one with a buy rating on the company’s stock. Based on data from MarketBeat.com, the company currently has an average “Hold” rating and an average price target of $ 26.50.

Shares in WRE stock opened at $ 25.60 on Wednesday. The fifty-day moving average for the stock is $ 25.49. The company has a Leverage Ratio of 0.38, a current value of 8.31, and a fast value of 8.31. The Washington Real Estate Investment Trust has a 12-month low of $ 20.74 and a 12-month high of $ 27.05. The company has a market cap of $ 2.17 billion, a P / E of 182.86, and a beta of 0.87.

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Washington Real Estate Investment Trust (NYSE: WRE) last released its quarterly earnings data on Thursday, October 28th. The Real Estate Investment Trust reported earnings per share (EPS) ($ 0.26) for the quarter, missing the Thomson Reuters consensus estimate of $ 0.21 ($ 0.47). The Washington Real Estate Investment Trust had a negative return on equity of 3.95% and a net margin of 5.41%. The company had revenue of $ 42.50 million for the quarter, compared to the consensus estimate of $ 44.44 million. During the same period last year, the company earned $ 0.36 EPS. The company’s revenue declined 2.7% year over year. As a group, sell-side analysts are forecasting that the Washington Real Estate Investment Trust will generate earnings per share of 1.07 for the current fiscal year.

Several institutional investors and hedge funds recently changed their positions in WRE. Comerica Bank increased its stake in Washington Real Estate Investment Trust by 96.9% in the third quarter. Comerica Bank now owns 155,889 shares of the real estate investment trust valued at $ 3,860,000 after purchasing an additional 76,722 shares last quarter. The Bank of New York Mellon Corp increased its stake in Washington Real Estate Investment Trust by 1.3% in the third quarter. Bank of New York Mellon Corp now owns 1,150,900 shares of the real estate investment trust valued at $ 28,485,000 after purchasing an additional 15,146 shares last quarter. Cetera Advisor Networks LLC acquired a new stake in Washington Real Estate Investment Trust worth approximately $ 203,000 in the third quarter. BNP Paribas Arbitrage SA increased its stake in Washington Real Estate Investment Trust by 32.9% in the third quarter. BNP Paribas Arbitrage SA now owns 94,356 shares in the real estate investment trust valued at $ 2,335,000 after acquiring an additional 23,356 shares last quarter. Eventually, Janus Henderson Group PLC acquired a new stake in Washington Real Estate Investment Trust worth approximately $ 211,000 in the third quarter. 91.79% of the shares are owned by institutional investors.

About Washington Real Estate Investment Trust

Washington Real Estate Investment Trust owns and operates income generating real estate. It operates in the following segments: Office and Multifamily. The Office segment offers office space for various types of companies and professions. The multi-family segment offers rental apartments for individuals and families across the Washington metropolitan area.

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