Pictet Asset Management Ltd. Raises Holdings in Washington Real Estate Investment Trust (NYSE:WRE)

Pictet Asset Management Ltd. grew its position in Washington Real Estate Investment Trust (NYSE:WRE) by 11.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,500 shares of the real estate investment trust’s stock after buying an additional 1,500 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Washington Real Estate Investment Trust were worth $388,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of WRE. Geode Capital Management LLC lifted its holdings in shares of Washington Real Estate Investment Trust by 8.5% in the 4th quarter. Geode Capital Management LLC now owns 1,078,821 shares of the real estate investment trust’s stock worth $24,812,000 after buying an additional 84,182 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Washington Real Estate Investment Trust by 8.3% in the 1st quarter. JPMorgan Chase & Co. now owns 181,933 shares of the real estate investment trust’s stock worth $5,163,000 after buying an additional 13,869 shares during the period. New York State Common Retirement Fund lifted its holdings in shares of Washington Real Estate Investment Trust by 4.9% in the 1st quarter. New York State Common Retirement Fund now owns 81,100 shares of the real estate investment trust’s stock worth $2,302,000 after buying an additional 3,800 shares during the period. First Trust Advisors LP lifted its holdings in shares of Washington Real Estate Investment Trust by 6.5% in the 1st quarter. First Trust Advisors LP now owns 1,080,575 shares of the real estate investment trust’s stock worth $30,667,000 after buying an additional 66,066 shares during the period. Finally, BlackRock Inc. lifted its holdings in shares of Washington Real Estate Investment Trust by 36.7% in the 1st quarter. BlackRock Inc. now owns 11,341,017 shares of the real estate investment trust’s stock worth $321,856,000 after buying an additional 3,046,215 shares during the period. Institutional investors and hedge funds own 89.42% of the company’s stock.

Separately, Zacks Investment Research upgraded Washington Real Estate Investment Trust from a “sell” rating to a “hold” rating in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $28.80.

Shares of WRE stock remained flat at $$27.47 during mid-day trading on Friday. The company’s stock had a trading volume of 18,494 shares, compared to its average volume of 321,671. Washington Real Estate Investment Trust has a twelve month low of $22.53 and a twelve month high of $29.97. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 14.77, a P/E/G ratio of 15.80 and a beta of 0.91. The stock has a 50-day moving average of $26.95 and a 200-day moving average of $27.40. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.69.

Washington Real Estate Investment Trust (NYSE:WRE) last released its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.44). The company had revenue of $76.82 million during the quarter, compared to the consensus estimate of $85.76 million. Washington Real Estate Investment Trust had a return on equity of 0.78% and a net margin of 2.51%. The company’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 earnings per share. Sell-side analysts predict that Washington Real Estate Investment Trust will post 1.72 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.37%. The ex-dividend date was Friday, September 13th. Washington Real Estate Investment Trust’s payout ratio is 64.52%.

Washington Real Estate Investment Trust Profile

Washington REIT owns and operates uniquely positioned real estate assets in the Washington DC market. Backed by decades of experience, expertise and ambition, we create value by transforming insights into strategy and strategy into action. Our portfolio of 48 properties includes approximately 6.1 million square feet of commercial space and 4,268 multifamily apartment units.

Featured Article: Why is Cost of Capital Important?

Want to see what other hedge funds are holding WRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Washington Real Estate Investment Trust (NYSE:WRE).

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

Receive News & Ratings for Washington Real Estate Investment Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Washington Real Estate Investment Trust and related companies with MarketBeat.com's FREE daily email newsletter.