Washington Real Estate Investment Trust (WRE) Given New $32.00 Price Target at JPMorgan Chase

Washington Real Estate Investment Trust (NYSE:WRE) had its target price dropped by equities research analysts at JPMorgan Chase from $34.00 to $32.00 in a report released on Tuesday. The firm currently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase’s price objective points to a potential upside of 15.19% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Washington Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research note on Saturday, January 13th. SunTrust Banks set a $31.00 target price on shares of Washington Real Estate Investment Trust and gave the company a “hold” rating in a research note on Monday, January 22nd. Finally, Stifel Nicolaus restated a “sell” rating on shares of Washington Real Estate Investment Trust in a research note on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $31.40.

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WRE opened at $27.78 on Tuesday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.05. The stock has a market cap of $2,148.49, a price-to-earnings ratio of 15.26, a P/E/G ratio of 14.74 and a beta of 0.78. Washington Real Estate Investment Trust has a 52-week low of $24.92 and a 52-week high of $33.96.

Washington Real Estate Investment Trust (NYSE:WRE) last posted its earnings results on Thursday, February 15th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.41). The company had revenue of $81.30 million for the quarter, compared to the consensus estimate of $81.94 million. Washington Real Estate Investment Trust had a net margin of 6.04% and a return on equity of 1.80%. analysts expect that Washington Real Estate Investment Trust will post 1.86 EPS for the current year.

Large investors have recently modified their holdings of the company. Koch Industries Inc. bought a new position in shares of Washington Real Estate Investment Trust in the 4th quarter worth approximately $204,000. Vident Investment Advisory LLC bought a new position in shares of Washington Real Estate Investment Trust in the 4th quarter worth approximately $214,000. Schroder Investment Management Group bought a new position in shares of Washington Real Estate Investment Trust in the 3rd quarter worth approximately $308,000. Wolverine Asset Management LLC bought a new position in shares of Washington Real Estate Investment Trust in the 4th quarter worth approximately $355,000. Finally, Landscape Capital Management L.L.C. bought a new position in shares of Washington Real Estate Investment Trust in the 4th quarter worth approximately $526,000. Hedge funds and other institutional investors own 84.12% of the company’s stock.

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About Washington Real Estate Investment Trust

Washington Real Estate Investment Trust is a self-administered equity real estate investment trust. The Company’s business consists of the ownership and operation of real property in the greater Washington metro region. The Company owns a diversified portfolio of office buildings, multifamily buildings and retail centers.

Analyst Recommendations for Washington Real Estate Investment Trust (NYSE:WRE)

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