Citigroup Inc. increased its holdings in shares of Washington Real Estate Investment Trust (NYSE:WRE) by 46.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 90,688 shares of the real estate investment trust’s stock after acquiring an additional 28,864 shares during the quarter. Citigroup Inc.’s holdings in Washington Real Estate Investment Trust were worth $2,574,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. OppenheimerFunds Inc. bought a new stake in shares of Washington Real Estate Investment Trust during the 1st quarter worth $203,000. Sheets Smith Wealth Management bought a new stake in shares of Washington Real Estate Investment Trust during the 1st quarter worth $230,000. State of Tennessee Treasury Department bought a new stake in shares of Washington Real Estate Investment Trust during the 1st quarter worth $1,501,000. Principal Financial Group Inc. bought a new stake in shares of Washington Real Estate Investment Trust during the 1st quarter worth $18,230,000. Finally, Ontario Teachers Pension Plan Board bought a new stake in shares of Washington Real Estate Investment Trust during the 1st quarter worth $434,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Shares of WRE opened at $27.41 on Thursday. Washington Real Estate Investment Trust has a 12-month low of $22.53 and a 12-month high of $31.85. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 15.46 and a beta of 0.94.

Washington Real Estate Investment Trust (NYSE:WRE) last issued its earnings results on Wednesday, April 24th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.44. Washington Real Estate Investment Trust had a return on equity of 1.68% and a net margin of 5.35%. The business had revenue of $83.20 million during the quarter, compared to analysts’ expectations of $82.12 million. During the same quarter in the prior year, the firm earned $0.46 EPS. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, research analysts forecast that Washington Real Estate Investment Trust will post 1.78 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.20 dividend on an annualized basis and a yield of 4.38%. Washington Real Estate Investment Trust’s payout ratio is presently 64.52%.

WRE has been the subject of several recent analyst reports. Robert W. Baird downgraded Washington Real Estate Investment Trust from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $30.00 to $28.00 in a research report on Tuesday, May 14th. Zacks Investment Research upgraded Washington Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $28.80.

COPYRIGHT VIOLATION NOTICE: This news story was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this news story on another site, it was copied illegally and republished in violation of United States & international copyright & trademark laws. The correct version of this news story can be viewed at https://www.thecerbatgem.com/2019/06/13/washington-real-estate-investment-trust-nysewre-position-lifted-by-citigroup-inc.html.

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.

Read More: Understanding Analyst Recommendations

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.