Washington Real Estate Investment Trust (WRE) Sees Significant Growth in Short Interest

Washington Real Estate Investment Trust (NYSE:WRE) was the recipient of a significant growth in short interest in June. As of June 15th, there was short interest totalling 3,605,001 shares, a growth of 70.0% from the May 31st total of 2,120,278 shares. Currently, 4.6% of the shares of the stock are sold short. Based on an average daily volume of 527,709 shares, the short-interest ratio is presently 6.8 days.

Several research analysts recently issued reports on WRE shares. JPMorgan Chase & Co. dropped their price target on shares of Washington Real Estate Investment Trust from $34.00 to $32.00 and set an “overweight” rating for the company in a research report on Tuesday, April 10th. SunTrust Banks reissued a “hold” rating and issued a $28.00 price target on shares of Washington Real Estate Investment Trust in a research report on Wednesday, March 7th. Finally, ValuEngine raised shares of Washington Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. Washington Real Estate Investment Trust presently has a consensus rating of “Hold” and a consensus price target of $31.40.

Shares of Washington Real Estate Investment Trust opened at $30.33 on Friday, MarketBeat Ratings reports. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.25. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 16.66 and a beta of 0.77. Washington Real Estate Investment Trust has a 1-year low of $24.92 and a 1-year high of $33.96.

Washington Real Estate Investment Trust (NYSE:WRE) last issued its quarterly earnings data on Wednesday, April 25th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.01). The firm had revenue of $84.88 million for the quarter, compared to the consensus estimate of $83.15 million. Washington Real Estate Investment Trust had a return on equity of 1.49% and a net margin of 4.91%. Washington Real Estate Investment Trust’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.44 earnings per share. equities analysts anticipate that Washington Real Estate Investment Trust will post 1.85 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 29th. Stockholders of record on Friday, June 15th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, June 14th. This represents a $1.20 annualized dividend and a dividend yield of 3.96%. Washington Real Estate Investment Trust’s dividend payout ratio (DPR) is currently 65.93%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its stake in shares of Washington Real Estate Investment Trust by 5.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 338,013 shares of the real estate investment trust’s stock valued at $10,519,000 after purchasing an additional 18,498 shares during the last quarter. Baird Financial Group Inc. grew its stake in shares of Washington Real Estate Investment Trust by 5.0% during the fourth quarter. Baird Financial Group Inc. now owns 39,695 shares of the real estate investment trust’s stock valued at $1,235,000 after purchasing an additional 1,908 shares during the last quarter. Sterling Capital Management LLC grew its stake in shares of Washington Real Estate Investment Trust by 51.1% during the fourth quarter. Sterling Capital Management LLC now owns 68,068 shares of the real estate investment trust’s stock valued at $2,118,000 after purchasing an additional 23,013 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Washington Real Estate Investment Trust by 7.5% during the fourth quarter. Wells Fargo & Company MN now owns 1,091,229 shares of the real estate investment trust’s stock valued at $33,959,000 after purchasing an additional 75,999 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in shares of Washington Real Estate Investment Trust by 59.1% during the fourth quarter. Deutsche Bank AG now owns 344,293 shares of the real estate investment trust’s stock valued at $10,712,000 after purchasing an additional 127,887 shares during the last quarter. 84.42% of the stock is currently owned by institutional investors and hedge funds.

Washington Real Estate Investment Trust Company Profile

Washington REIT owns and operates uniquely positioned real estate assets in the Washington DC market. The Company's portfolio of 49 properties consists of approximately 6.4 million square feet of commercial space and 4,268 multifamily apartment units. These 49 properties consist of 20 office properties, 16 retail centers and 13 multifamily properties.

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