Zacks: Brokerages Expect Washington Real Estate Investment Trust (NYSE: WRE) Will Post Quarterly Sales of 51.04 Million

Equities analysts expect Washington Real Estate Investment Trust (NYSE: WRE – Get Rating) to announce sales of $ 51.04 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Washington Real Estate Investment Trust’s earnings, with the lowest sales estimate coming in at $ 49.64 million and the highest estimate coming in at $ 52.58 million. Washington Real Estate Investment Trust posted sales of 41.30 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 23.6%. The business is expected to announce its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Washington Real Estate Investment Trust will report full-year sales of $ 207.99 million for the current fiscal year, with estimates ranging from $ 200.79 million to $ 214.57 million. For the next fiscal year, analysts anticipate that the business will report sales of 227.19 million, with estimates ranging from $ 202.75 million to $ 235.99 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow the Washington Real Estate Investment Trust.

WRE has been the subject of several analyst reports. Zacks Investment Research cut Washington Real Estate Investment Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, May 4th. StockNews.com initiated coverage on Washington Real Estate Investment Trust in a research note on Thursday, March 31st. They set a “sell” rating for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of 27.00.

Washington Real Estate Investment Trust stock opened at $ 22.84 on Monday. Washington Real Estate Investment Trust has a 12 month low of $ 22.23 and a 12 month high of $ 27.05. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.72 and a quick ratio of 4.72. The business has a 50 day simple moving average of $ 24.61 and a 200-day simple moving average of 24.92. The stock has a market capitalization of $ 2.00 billion, a PE ratio of 190.33 and a beta of 0.85.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 6th. Investors of record on Wednesday, June 22nd will be issued a dividend of 0.17 per share. This represents a 68 0.68 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Tuesday, June 21st. Washington Real Estate Investment Trust’s dividend payout ratio is currently 566.67%.

A number of hedge funds have recently made changes to their positions in the stock. Maryland State Retirement & Pension System grew its holdings in Washington Real Estate Investment Trust by 1.4% during the fourth quarter. Maryland State Retirement & Pension System now owns 33,741 shares of the real estate investment trust’s stock worth $ 872,000 after acquiring an additional 450 shares during the period. Daiwa Securities Group Inc. grew its holdings in Washington Real Estate Investment Trust by 2.0% in the first quarter. Daiwa Securities Group Inc. Now owns 25,146 shares of the real estate investment trust’s stock valued at $ 641,000 after purchasing an additional 483 shares during the last quarter. Vident Investment Advisory LLC grew its holdings in Washington Real Estate Investment Trust by 1.3% in the fourth quarter. Vident Investment Advisory LLC now owns 37,619 shares of the real estate investment trust’s stock valued at $ 973,000 after purchasing an additional 485 shares during the last quarter. Hsbc Holdings PLC grew its holdings in Washington Real Estate Investment Trust by 2.1% in the third quarter. Hsbc Holdings PLC now owns 23,556 shares of the real estate investment trust’s stock valued at $ 587,000 after purchasing an additional 486 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in Washington Real Estate Investment Trust by 0.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 68,878 shares of the real estate investment trust’s stock valued at $ 1,780,000 after purchasing an additional 489 shares during the last quarter. 90.75% of the stock is currently owned by hedge funds and other institutional investors.

About Washington Real Estate Investment Trust (Get Rating)

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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