Washington Real Estate Investment Trust (NYSE:WRE) Price Target Lowered to $23.00 at Stifel Nicolaus

Washington Real Estate Investment Trust (NYSE:WRE) had its target price reduced by stock analysts at Stifel Nicolaus from $25.00 to $23.00 in a research report issued to clients and investors on Tuesday, BenzingaRatingsTable reports. The firm presently has a “hold” rating on the real estate investment trust’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 3.84% from the stock’s current price.

Separately, Zacks Investment Research raised shares of Washington Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research note on Saturday.

Shares of WRE traded down $0.14 during mid-day trading on Tuesday, hitting $22.15. 1,687 shares of the company’s stock were exchanged, compared to its average volume of 503,339. Washington Real Estate Investment Trust has a 52 week low of $18.01 and a 52 week high of $32.22. The stock’s 50-day simple moving average is $21.93 and its 200-day simple moving average is $25.84. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 4.56 and a beta of 0.78. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.84.

Washington Real Estate Investment Trust (NYSE:WRE) last issued its earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.36). Washington Real Estate Investment Trust had a net margin of 123.89% and a return on equity of 3.80%. The company had revenue of $76.79 million during the quarter, compared to analyst estimates of $76.95 million. During the same quarter in the prior year, the business earned $0.44 EPS. The business’s quarterly revenue was up 7.5% on a year-over-year basis. Analysts forecast that Washington Real Estate Investment Trust will post 1.51 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Alliancebernstein L.P. boosted its stake in shares of Washington Real Estate Investment Trust by 4.2% in the 1st quarter. Alliancebernstein L.P. now owns 161,723 shares of the real estate investment trust’s stock valued at $3,860,000 after purchasing an additional 6,520 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Washington Real Estate Investment Trust by 6.4% in the 1st quarter. Geode Capital Management LLC now owns 1,470,932 shares of the real estate investment trust’s stock worth $35,111,000 after acquiring an additional 87,848 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Washington Real Estate Investment Trust by 5.3% in the 1st quarter. Thrivent Financial for Lutherans now owns 67,546 shares of the real estate investment trust’s stock worth $1,612,000 after acquiring an additional 3,372 shares in the last quarter. Legal & General Group Plc increased its stake in Washington Real Estate Investment Trust by 8.8% during the 1st quarter. Legal & General Group Plc now owns 631,237 shares of the real estate investment trust’s stock valued at $15,067,000 after purchasing an additional 51,249 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in Washington Real Estate Investment Trust by 3.6% during the 1st quarter. Wells Fargo & Company MN now owns 1,846,463 shares of the real estate investment trust’s stock valued at $44,075,000 after purchasing an additional 64,059 shares in the last quarter. 87.94% of the stock is currently owned by institutional investors.

About Washington Real Estate Investment Trust

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.

Further Reading: Return On Assets

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