Zacks Investment Research downgraded 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 Wednesday.

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 recently weighed in on WRE. Robert W. Baird upgraded shares of Washington Real Estate Investment Trust from a neutral rating to an outperform rating and set a $34.00 target price for the company in a report on Tuesday, May 16th. BidaskClub lowered shares of Washington Real Estate Investment Trust from a hold rating to a sell rating in a research note on Tuesday, July 11th. Finally, Stifel Nicolaus reaffirmed a hold rating and issued a $33.00 price objective on shares of Washington Real Estate Investment Trust in a research note on Friday, July 14th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Washington Real Estate Investment Trust has an average rating of Hold and an average target price of $33.92.

Washington Real Estate Investment Trust (NYSE WRE) traded up 0.25% during midday trading on Wednesday, reaching $32.60. The company had a trading volume of 171,421 shares. Washington Real Estate Investment Trust has a 52-week low of $27.65 and a 52-week high of $34.61. The company’s 50 day moving average is $32.27 and its 200-day moving average is $32.00. The company has a market capitalization of $2.50 billion, a P/E ratio of 19.51 and a beta of 0.95.

Washington Real Estate Investment Trust (NYSE:WRE) last issued its earnings results on Wednesday, April 26th. The real estate investment trust reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.01. The firm had revenue of $77.50 million during the quarter, compared to analysts’ expectations of $77.54 million. Washington Real Estate Investment Trust had a net margin of 39.41% and a return on equity of 11.93%. Equities analysts expect that Washington Real Estate Investment Trust will post $0.42 earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 15th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend was Tuesday, June 13th. Washington Real Estate Investment Trust’s dividend payout ratio is 71.86%.

Institutional investors have recently bought and sold shares of the company. Aperio Group LLC raised its position in Washington Real Estate Investment Trust by 21.4% in the second quarter. Aperio Group LLC now owns 12,547 shares of the real estate investment trust’s stock worth $400,000 after buying an additional 2,208 shares in the last quarter. State of Alaska Department of Revenue raised its position in Washington Real Estate Investment Trust by 23.6% in the second quarter. State of Alaska Department of Revenue now owns 10,990 shares of the real estate investment trust’s stock worth $350,000 after buying an additional 2,100 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in Washington Real Estate Investment Trust by 1.2% in the first quarter. Nomura Asset Management Co. Ltd. now owns 49,390 shares of the real estate investment trust’s stock worth $1,545,000 after buying an additional 590 shares in the last quarter. Nuveen Asset Management LLC raised its position in Washington Real Estate Investment Trust by 15.3% in the first quarter. Nuveen Asset Management LLC now owns 2,077,047 shares of the real estate investment trust’s stock worth $64,970,000 after buying an additional 274,994 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Washington Real Estate Investment Trust by 41.1% in the first quarter. Goldman Sachs Group Inc. now owns 232,667 shares of the real estate investment trust’s stock worth $7,278,000 after buying an additional 67,733 shares in the last quarter. 82.82% of the stock is 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.

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Analyst Recommendations for Washington Real Estate Investment Trust (NYSE:WRE)

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