Washington Real Estate Investment Trust (NYSE:WRE – Get Rating) issued an update on its FY23 earnings guidance on Tuesday morning. The company provided EPS guidance of $0.96-1.04 for the period, compared to the consensus EPS estimate of $1.02. Washington Real Estate Investment Trust also updated its FY 2022 guidance to $0.86-$0.90 EPS.
Washington Real Estate Investment Trust Trading Down 4.4 %
WRE traded down $0.79 during trading on Thursday, reaching $17.21. The company had a trading volume of 2,403 shares, compared to its average volume of 535,583. Washington Real Estate Investment Trust has a 52 week low of $17.27 and a 52 week high of $26.79. The stock has a market cap of $1.50 billion, a P/E ratio of 180.00 and a beta of 0.88. The business has a 50 day simple moving average of $20.45 and a 200-day simple moving average of $22.45. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.44.
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Washington Real Estate Investment Trust Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Wednesday, September 21st will be paid a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, September 20th. This represents a $0.68 annualized dividend and a yield of 3.95%. Washington Real Estate Investment Trust's dividend payout ratio (DPR) is presently 680.00%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on WRE. 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 on the stock in a research note on Friday, July 1st. TheStreet downgraded Washington Real Estate Investment Trust from a c- rating to a d+ rating in a report on Wednesday, July 6th. JPMorgan Chase & Co. decreased their target price on Washington Real Estate Investment Trust from $26.00 to $24.00 in a report on Tuesday, June 14th. Finally, StockNews.com downgraded 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 assigned a buy rating to the company. According to MarketBeat.com, Washington Real Estate Investment Trust presently has a consensus rating of Hold and an average target price of $24.25.
Institutional Trading of Washington Real Estate Investment Trust
Institutional investors and hedge funds have recently made changes to their positions in the business. Penserra Capital Management LLC purchased a new stake in shares of Washington Real Estate Investment Trust during the first quarter worth approximately $27,000. First Manhattan Co. grew its holdings in Washington Real Estate Investment Trust by 435.1% in the 1st quarter. First Manhattan Co. now owns 1,402 shares of the real estate investment trust's stock valued at $35,000 after buying an additional 1,140 shares in the last quarter. Captrust Financial Advisors purchased a new stake in Washington Real Estate Investment Trust in the 2nd quarter valued at $151,000. LPL Financial LLC lifted its stake in shares of Washington Real Estate Investment Trust by 11.6% in the 2nd quarter. LPL Financial LLC now owns 9,850 shares of the real estate investment trust's stock valued at $210,000 after purchasing an additional 1,026 shares during the last quarter. Finally, AQR Capital Management LLC acquired a new position in shares of Washington Real Estate Investment Trust in the 2nd quarter valued at $225,000. 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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