Equities researchers at StockNews.com assumed coverage on shares of Washington Real Estate Investment Trust (NYSE:WRE – Get Rating) in a report issued on Tuesday. The brokerage set a “sell” rating on the real estate investment trust’s stock.
Separately, Wells Fargo & Company lowered their price target on Washington Real Estate Investment Trust from $21.00 to $17.00 and set an “equal weight” rating for the company in a report on Tuesday, October 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Washington Real Estate Investment Trust currently has an average rating of “Hold” and a consensus price target of $23.25.
Washington Real Estate Investment Trust Stock Performance
Shares of WRE opened at $17.57 on Tuesday. Washington Real Estate Investment Trust has a 12 month low of $16.14 and a 12 month high of $26.79. The stock has a fifty day moving average price of $18.81 and a 200-day moving average price of $21.39. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.44. The firm has a market cap of $1.54 billion, a PE ratio of 175.70 and a beta of 0.88.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC raised its holdings in Washington Real Estate Investment Trust by 9.5% in the 2nd quarter. FMR LLC now owns 10,621,423 shares of the real estate investment trust’s stock worth $226,343,000 after purchasing an additional 922,152 shares during the period. State Street Corp increased its holdings in Washington Real Estate Investment Trust by 13.5% in the 1st quarter. State Street Corp now owns 5,257,101 shares of the real estate investment trust’s stock worth $134,931,000 after acquiring an additional 626,534 shares in the last quarter. First Pacific Advisors LP acquired a new position in Washington Real Estate Investment Trust during the first quarter worth $12,714,000. Vanguard Group Inc. raised its position in Washington Real Estate Investment Trust by 3.2% during the first quarter. Vanguard Group Inc. now owns 13,973,815 shares of the real estate investment trust’s stock worth $356,332,000 after acquiring an additional 427,868 shares during the period. Finally, Highland Capital Management Fund Advisors L.P. purchased a new position in Washington Real Estate Investment Trust during the first quarter valued at $9,968,000. Hedge funds and other institutional investors own 90.17% of the company’s stock.
About Washington Real Estate Investment Trust
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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