Zacks Investment Research lowered shares of Washington Real Estate Investment Trust (NYSE:WRE) from a hold rating to a sell rating in a research note released on Wednesday, July 19th.
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. “
WRE has been the topic of a number of other reports. Robert W. Baird raised Washington Real Estate Investment Trust from a neutral rating to an outperform rating and set a $34.00 target price on the stock in a research note on Tuesday, May 16th. BidaskClub cut Washington Real Estate Investment Trust from a hold rating to a sell rating in a research report on Tuesday, July 11th. Finally, Stifel Nicolaus reaffirmed a hold rating and set a $33.00 price objective on shares of Washington Real Estate Investment Trust in a research report on Friday, July 14th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $33.92.
Washington Real Estate Investment Trust (NYSE:WRE) traded up 1.24% during mid-day trading on Wednesday, reaching $33.37. 466,512 shares of the company’s stock traded hands. Washington Real Estate Investment Trust has a 1-year low of $27.65 and a 1-year high of $33.96. The firm has a 50 day moving average of $32.33 and a 200 day moving average of $32.05. The firm has a market cap of $2.57 billion, a PE ratio of 25.24 and a beta of 0.96.
ILLEGAL ACTIVITY NOTICE: “Washington Real Estate Investment Trust (NYSE:WRE) Lowered to “Sell” at Zacks Investment Research” was posted by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark law. The correct version of this article can be accessed at https://stocknewstimes.com/2017/08/16/washington-real-estate-investment-trust-nysewre-downgraded-by-zacks-investment-research-updated-updated-updated.html.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.60%. The ex-dividend date is Thursday, September 14th. Washington Real Estate Investment Trust’s dividend payout ratio (DPR) is currently 90.23%.
Several hedge funds and other institutional investors have recently bought and sold shares of WRE. Dimensional Fund Advisors LP increased its position in Washington Real Estate Investment Trust by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 957,909 shares of the real estate investment trust’s stock valued at $31,313,000 after buying an additional 32,406 shares during the period. FMR LLC acquired a new stake in shares of Washington Real Estate Investment Trust during the fourth quarter valued at about $45,757,000. Numeric Investors LLC acquired a new stake in shares of Washington Real Estate Investment Trust during the fourth quarter valued at about $262,000. Norges Bank acquired a new stake in shares of Washington Real Estate Investment Trust during the fourth quarter valued at about $25,008,000. Finally, Teachers Advisors LLC boosted its position in Washington Real Estate Investment Trust by 4.1% in the fourth quarter. Teachers Advisors LLC now owns 123,401 shares of the real estate investment trust’s stock valued at $4,034,000 after buying an additional 4,861 shares in the last quarter. 84.95% of the stock is currently owned by hedge funds and other institutional investors.
Washington Real Estate Investment Trust Company Profile
Washington Real Estate Investment Trust is a self-administered equity real estate investment trust. The Company’s business consists of the ownership and operation of real property in the greater Washington metro region. The Company owns a diversified portfolio of office buildings, multifamily buildings and retail centers.
Get a free copy of the Zacks research report on Washington Real Estate Investment Trust (WRE)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.
