Zacks Investment Research lowered shares of Washington Real Estate Investment Trust (NYSE:WRE) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

According to Zacks, “WASHINGTON R.E. INV. TRUST is a self-administered qualified equity real estate investment trust. The Trust’s business consists of the ownership of income-producing real estate properties principally in the Greater Washington-Baltimore Region. The Trust has a fundamental strategy of regional focus, diversified property type ownership and conservative financial management. “

A number of other analysts have also issued reports on the company. JPMorgan Chase & Co. lowered Washington Real Estate Investment Trust from an overweight rating to a neutral rating in a report on Friday, October 5th. Stifel Nicolaus raised shares of Washington Real Estate Investment Trust from a sell rating to a hold rating and set a $29.00 price target on the stock in a research note on Monday, October 22nd. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The stock has an average rating of Hold and a consensus price target of $29.67.

WRE opened at $28.56 on Friday. The firm has a market capitalization of $2.31 billion, a PE ratio of 15.69 and a beta of 0.78. Washington Real Estate Investment Trust has a 12-month low of $24.92 and a 12-month high of $32.91. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.13.

Washington Real Estate Investment Trust (NYSE:WRE) last released its earnings results on Thursday, October 25th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.02). The business had revenue of $82.50 million during the quarter, compared to analysts’ expectations of $84.78 million. Washington Real Estate Investment Trust had a net margin of 6.64% and a return on equity of 2.05%. Sell-side analysts anticipate that Washington Real Estate Investment Trust will post 1.85 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 4th. Stockholders of record on Thursday, December 20th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend is Wednesday, December 19th. Washington Real Estate Investment Trust’s dividend payout ratio (DPR) is presently 65.93%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Federated Investors Inc. PA increased its position in Washington Real Estate Investment Trust by 2.9% during the second quarter. Federated Investors Inc. PA now owns 451,623 shares of the real estate investment trust’s stock worth $13,698,000 after buying an additional 12,640 shares during the last quarter. Wells Fargo & Company MN increased its position in Washington Real Estate Investment Trust by 6.1% during the second quarter. Wells Fargo & Company MN now owns 1,353,173 shares of the real estate investment trust’s stock worth $41,042,000 after buying an additional 78,178 shares during the last quarter. Janus Henderson Group PLC increased its position in Washington Real Estate Investment Trust by 4.0% during the second quarter. Janus Henderson Group PLC now owns 508,005 shares of the real estate investment trust’s stock worth $15,405,000 after buying an additional 19,374 shares during the last quarter. Resolution Capital Ltd increased its position in Washington Real Estate Investment Trust by 57.7% during the second quarter. Resolution Capital Ltd now owns 1,654,558 shares of the real estate investment trust’s stock worth $50,183,000 after buying an additional 605,070 shares during the last quarter. Finally, Rhumbline Advisers increased its position in Washington Real Estate Investment Trust by 3.7% during the second quarter. Rhumbline Advisers now owns 94,659 shares of the real estate investment trust’s stock worth $2,871,000 after buying an additional 3,342 shares during the last quarter. 84.84% of the stock is currently owned by institutional investors and hedge funds.

About Washington Real Estate Investment Trust

Washington REIT owns and operates uniquely positioned real estate assets in the Washington DC market. The Company's portfolio of 48 properties consists of approximately 6.1 million square feet of commercial space and 4,268 multifamily apartment units. These 48 properties consist of 19 office properties, 16 retail centers and 13 multifamily properties.

See Also: Exchange-Traded Funds (ETFs)

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