Washington Real Estate Investment Trust (NYSE: WRE – Get a rating) saw its target price reduced by JPMorgan Chase & Co. from $26.00 to $24.00 in a research report released Tuesday morning, Fly reports.
Separately, StockNews.com began covering Washington Real Estate Investment Trust stocks in a research report on Thursday, March 31. They put a sell mark on the stock. One research analyst rated the stock with a sell rating, three gave the company a hold rating and one gave the company a buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $25.75.
Washington Real Estate Investment Trust Stock opened at $22.09 on Tuesday. The stock has a market capitalization of $1.93 billion, a P/E ratio of 184.08 and a beta of 0.85. The company has a debt ratio of 0.38, a current ratio of 4.72 and a quick ratio of 4.72. Washington Real Estate Investment Trust has a 1-year minimum of $21.96 and a 1-year maximum of $26.79. The company’s 50-day moving average price is $24.16 and its 200-day moving average price is $24.64.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 6. Shareholders of record on Wednesday, June 22 will receive a dividend of $0.17 per share. This represents an annualized dividend of $0.68 and a yield of 3.08%. The ex-dividend date is Tuesday, June 21. Washington Real Estate Investment Trust’s payout ratio is 566.67%.
Several institutional investors and hedge funds have recently changed their holdings of WRE. Allspring Global Investments Holdings LLC purchased a new stake in shares of Washington Real Estate Investment Trust during the fourth quarter at a value of $47,217,000. Norges Bank purchased a new stake in shares of Washington Real Estate Investment Trust during the fourth quarter at a value of $19,614,000. State Street Corp increased its stake in shares of Washington Real Estate Investment Trust by 13.5% in the first quarter. State Street Corp now owns 5,257,101 shares of the real estate investment trust valued at $134,931,000 after purchasing an additional 626,534 shares during the period. BlackRock Inc. increased its stake in Washington Real Estate Investment Trust by 3.3% in the fourth quarter. BlackRock Inc. now owns 15,984,446 shares of the real estate investment trust worth $413,198,000 after acquiring an additional 503,512 shares during the period. Finally, First Pacific Advisors LP acquired a new stake in Washington Real Estate Investment Trust in the first quarter worth approximately $12,714,000. 90.75% of the shares are held by hedge funds and other institutional investors.
About Washington Real Estate Investment Trust (Get a rating)
WashREIT owns and operates uniquely positioned real estate assets in the Washington metropolitan area. With decades of experience, expertise and ambition, we create value by turning ideas 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 retail space and 6,863 multi-family apartments.
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