Washington Real Estate Investment Trust (WRE) Cut to Neutral at Robert W. Baird

Washington Real Estate Investment Trust (NYSE:WRE) was downgraded by research analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a note issued to investors on Tuesday, MarketBeat.com reports. They presently have a $28.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $30.00. Robert W. Baird’s price target would suggest a potential upside of 2.08% from the stock’s previous close.

A number of other equities research analysts have also recently commented on WRE. Zacks Investment Research cut Washington Real Estate Investment Trust from a “hold” rating to a “sell” rating in a research note on Saturday, February 2nd. Wells Fargo & Co decreased their price target on Washington Real Estate Investment Trust from $32.00 to $26.00 and set a “positive” rating for the company in a research note on Wednesday, January 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Washington Real Estate Investment Trust has an average rating of “Hold” and an average price target of $28.80.

Shares of NYSE WRE opened at $27.43 on Tuesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market cap of $2.21 billion, a P/E ratio of 14.75, a P/E/G ratio of 15.68 and a beta of 0.96. Washington Real Estate Investment Trust has a 1-year low of $22.53 and a 1-year high of $31.85.

Washington Real Estate Investment Trust (NYSE:WRE) last issued its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $0.44 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.44. The firm had revenue of $83.20 million during the quarter, compared to analysts’ expectations of $82.12 million. Washington Real Estate Investment Trust had a return on equity of 1.68% and a net margin of 5.35%. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.46 EPS. As a group, equities analysts forecast that Washington Real Estate Investment Trust will post 1.76 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. LS Investment Advisors LLC purchased a new stake in Washington Real Estate Investment Trust in the first quarter valued at about $67,000. D Orazio & Associates Inc. purchased a new stake in Washington Real Estate Investment Trust in the first quarter valued at about $85,000. Quadrant Capital Group LLC raised its stake in Washington Real Estate Investment Trust by 311.1% in the first quarter. Quadrant Capital Group LLC now owns 3,272 shares of the real estate investment trust’s stock valued at $91,000 after buying an additional 2,476 shares during the last quarter. Advisor Group Inc. raised its stake in Washington Real Estate Investment Trust by 48.9% in the fourth quarter. Advisor Group Inc. now owns 5,290 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 1,737 shares during the last quarter. Finally, FCA Corp TX acquired a new position in shares of Washington Real Estate Investment Trust in the fourth quarter valued at about $138,000. Institutional investors own 87.89% of the company’s stock.

Washington Real Estate Investment Trust Company Profile

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.

Featured Story: Short Selling – Explanation For Shorting Stocks

Analyst Recommendations 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.