Zacks: Analysts Expect Washington Real Estate Investment Trust (NYSE:WRE) to Announce $0.19 Earnings Per Share

Wall Street analysts expect that Washington Real Estate Investment Trust (NYSE:WRE) will report earnings of $0.19 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Washington Real Estate Investment Trust’s earnings, with the highest EPS estimate coming in at $0.21 and the lowest estimate coming in at $0.17. Washington Real Estate Investment Trust reported earnings of $0.33 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 42.4%. The company is expected to announce 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 earnings of $1.07 per share for the current year, with EPS estimates ranging from $1.06 to $1.07. For the next fiscal year, analysts expect that the business will report earnings of $0.93 per share, with EPS estimates ranging from $0.87 to $0.99. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that provide coverage for Washington Real Estate Investment Trust.

Washington Real Estate Investment Trust (NYSE:WRE) last announced its quarterly earnings data on Thursday, October 28th. The real estate investment trust reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.47). Washington Real Estate Investment Trust had a net margin of 5.41% and a negative return on equity of 3.95%. The business had revenue of $42.50 million during the quarter, compared to analysts’ expectations of $44.44 million. During the same period last year, the company posted $0.36 EPS. Washington Real Estate Investment Trust’s revenue for the quarter was down 2.7% on a year-over-year basis.

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

Shares of Washington Real Estate Investment Trust stock traded up $0.06 during trading on Monday, reaching $24.62. The company’s stock had a trading volume of 721,200 shares, compared to its average volume of 707,460. Washington Real Estate Investment Trust has a 52-week low of $21.64 and a 52-week high of $27.05. The company has a market cap of $2.08 billion, a P/E ratio of 175.86 and a beta of 0.86. The firm has a 50-day simple moving average of $25.54. The company has a current ratio of 8.31, a quick ratio of 8.31 and a debt-to-equity ratio of 0.38.

Hedge funds and other institutional investors have recently modified their holdings of the business. Widmann Financial Services Inc. bought a new position in Washington Real Estate Investment Trust in the 4th quarter worth $25,000. Trust Co. of Vermont bought a new position in Washington Real Estate Investment Trust in the 4th quarter worth $32,000. JFS Wealth Advisors LLC bought a new position in Washington Real Estate Investment Trust in the 3rd quarter worth $42,000. Koshinski Asset Management Inc. bought a new position in shares of Washington Real Estate Investment Trust in the 3rd quarter worth about $50,000. Finally, Geneos Wealth Management Inc. increased its stake in shares of Washington Real Estate Investment Trust by 49.3% in the 3rd 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 in the last quarter. Institutional investors and hedge funds 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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