Washington Real Estate Investment Trust (NYSE:WRE – Get Rating) issued an update on its FY 2023 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.96-$1.04 for the period. The company issued revenue guidance of -. Washington Real Estate Investment Trust also updated its FY 2022 guidance to $0.86-$0.90 EPS.
Washington Real Estate Investment Trust Stock Performance
Shares of WRE opened at $17.79 on Tuesday. Washington Real Estate Investment Trust has a 12-month low of $17.79 and a 12-month high of $26.79. The stock has a market cap of $1.55 billion, a P/E ratio of 177.90 and a beta of 0.88. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.44. The company has a 50-day moving average of $20.64 and a two-hundred day moving average of $22.57.
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Washington Real Estate Investment Trust Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Wednesday, September 21st will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date is Tuesday, September 20th. Washington Real Estate Investment Trust's payout ratio is currently 680.00%.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on WRE shares. Wells Fargo & Company dropped their price target on Washington Real Estate Investment Trust from $26.00 to $21.00 and set an equal weight rating for the company in a research report on Friday, July 1st. TheStreet cut Washington Real Estate Investment Trust from a c- rating to a d+ rating in a research report on Wednesday, July 6th. JPMorgan Chase & Co. reduced their target price on shares of Washington Real Estate Investment Trust from $26.00 to $24.00 in a report on Tuesday, June 14th. Finally, StockNews.com downgraded shares of Washington Real Estate Investment Trust from a hold rating to a sell rating in a report on Tuesday, August 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $24.25.
Hedge Funds Weigh In On Washington Real Estate Investment Trust
Large investors have recently added to or reduced their stakes in the business. Natixis Advisors L.P. increased its stake in shares of Washington Real Estate Investment Trust by 45.2% during the 1st quarter. Natixis Advisors L.P. now owns 20,736 shares of the real estate investment trust's stock valued at $529,000 after acquiring an additional 6,455 shares during the last quarter. Bank of Montreal Can grew its holdings in Washington Real Estate Investment Trust by 2.6% in the first quarter. Bank of Montreal Can now owns 23,960 shares of the real estate investment trust's stock valued at $620,000 after purchasing an additional 614 shares during the period. MetLife Investment Management LLC grew its holdings in Washington Real Estate Investment Trust by 59.6% in the first quarter. MetLife Investment Management LLC now owns 45,586 shares of the real estate investment trust's stock valued at $1,162,000 after purchasing an additional 17,032 shares during the period. Rhumbline Advisers grew its holdings in Washington Real Estate Investment Trust by 1.9% in the first quarter. Rhumbline Advisers now owns 253,204 shares of the real estate investment trust's stock valued at $6,457,000 after purchasing an additional 4,619 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Washington Real Estate Investment Trust by 14.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 72,964 shares of the real estate investment trust's stock valued at $1,861,000 after purchasing an additional 8,996 shares during the period. 90.17% of the stock is currently owned by hedge funds and other institutional investors.
Washington Real Estate Investment Trust Company Profile
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WashREIT owns and operates uniquely positioned real estate assets in the Washington Metro area. Backed by decades of experience, expertise and ambition, we create value by transforming insights into strategy and strategy into action. As of October 29, 2020, the Company's portfolio of 45 properties includes approximately 3.7 million square feet of commercial space and 6,863 multifamily apartment units.
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