Washington Real Estate Investment Trust (NYSE: WRE) Expected to Post Quarterly Sales of $ 45.41 Million

Wall Street brokerages forecast that Washington Real Estate Investment Trust (NYSE: WRE) will report $ 45.41 million in sales for the current quarter, according to Zacks investment research. Three analysts provided earnings estimates for Washington Real Estate Investment Trust, with the lowest sales estimate at $ 44.70 million and the highest estimate at $ 45.87 million. The Washington Real Estate Investment Trust reported sales of $ 71.23 million in the same quarter last year, indicating a negative growth rate of 36.2% year-over-year. The company is expected to release its next quarterly earnings report on Thursday, February 10.

On average, analysts expect Washington Real Estate Investment Trust to report annual sales of $ 179.50 million for the current year, with estimates ranging from $ 169.11 million to $ 199.10 million. of dollars. For next year, analysts predict the company will post sales of $ 208.61 million, with estimates ranging from $ 206.22 million to $ 211.17 million. Zacks Investment Research sales averages are an average based on a survey of research analysts who track Washington Real Estate Investment Trust.

Washington Real Estate Investment Trust (NYSE: WRE) last announced its quarterly earnings data on Thursday, October 28. The REIT reported ($ 0.26) EPS for the quarter, missing the ($ 0.47) consensus estimate of $ 0.21. The company posted revenue of $ 42.50 million for the quarter, compared to a consensus estimate of $ 44.44 million. Washington Real Estate Investment Trust had a net margin of 5.41% and a negative return on equity of 3.95%. Washington Real Estate Investment Trust’s revenue for the quarter was down 2.7% from the same quarter last year. In the same quarter of last year, the company posted earnings per share of $ 0.36.

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Several brokerage firms have weighed in on WRE recently. Truist lowered its price target on the Washington Real Estate Investment Trust from $ 24.00 to $ 23.00 and set a “hold” rating for the company in a report released on Monday, December 6. Truist Securities lowered its price target on the Washington Real Estate Investment Trust from $ 24.00 to $ 23.00 and set a “custody” rating for the company in a report released on Monday, December 6. BTIG Research increased its target price on Washington Real Estate Investment Trust from $ 28.00 to $ 29.00 and gave the company a “buy” rating in a report released on Monday, December 13. Wells Fargo & Company increased its price target on Washington Real Estate Investment Trust from $ 25 to $ 27.00 and gave the company an “equal weight” rating in a report released Wednesday, December 1. Finally, Zacks investment research upgraded the Washington Real Estate Investment Trust from a “sell” rating to a “custody” rating in a report released Thursday, December 9. Five research analysts rated the stock with a conservation rating and one issued a buy rating for the company’s stock. According to MarketBeat, Washington Real Estate Investment Trust has an average “Hold” rating and a consensus target price of $ 25.60.

Shares of Washington Real Estate Investment Trust opened at $ 25.40 on Friday. The company has a market cap of $ 2.15 billion, a PE ratio of 181.43 and a beta of 0.86. Washington Real Estate Investment Trust has a 12 month low of $ 20.74 and a 12 month high of $ 27.05. The company’s 50-day average mobile price is $ 25.57, and its 200-day average mobile price is $ 24.92. The company has a current ratio of 8.31, a rapid ratio of 8.31 and a debt ratio of 0.38.

The company also recently unveiled a quarterly dividend, which will be paid on Wednesday, January 5. Shareholders of record on Wednesday, December 22 will receive a dividend of $ 0.17. This represents an annualized dividend of $ 0.68 and a return of 2.68%. The ex-dividend date for this dividend is Tuesday, December 21. Washington Real Estate Investment Trust’s dividend payout ratio (DPR) is currently 485.71%.

Hedge funds and other institutional investors have recently increased or reduced their stakes in the company. Jefferies Group LLC purchased a new position in shares of Washington Real Estate Investment Trust during the third quarter for a value of approximately $ 1,314,000. UBS Asset Management Americas Inc. increased its stake in Washington Real Estate Investment Trust shares by 4.5% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 430,717 Real Estate Investment Trust shares valued at $ 10,660,000 after purchasing an additional 18,669 shares during the period. Comerica Bank increased its stake in Washington Real Estate Investment Trust shares by 96.9% in the 3rd quarter. Comerica Bank now owns 155,889 real estate investment trust shares valued at $ 3,860,000 after purchasing an additional 76,722 shares during the period. Bank of New York Mellon Corp increased its stake in Washington Real Estate Investment Trust shares by 1.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,150,900 real estate investment trust shares valued at $ 28,485,000 after purchasing an additional 15,146 shares during the period. Finally, Cetera Advisor Networks LLC acquired in the 3rd quarter a new position in Washington Real Estate Investment Trust shares valued at approximately $ 203,000. Institutional investors and hedge funds hold 91.79% of the company’s shares.

About Washington Real Estate Investment Trust

Washington Real Estate Investment Trust engages in the ownership and operation of income generating real estate properties. It operates through the following segments: Office and Multifamily. The Office segment provides office space for various types of businesses and professions. The Multi-Family segment provides rental housing to individuals and families throughout the Washington metro area.

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Washington Real Estate Investment Trust (NYSE: WRE) Earnings History and Estimates

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