Washington Real Estate Investment Trust (NYSE:WRE) boosted by Zacks Investment Research to buy


Washington Real Estate Investment Trust (NYSE:WRE – Get a Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report released Wednesday, Zacks.com reports. The brokerage currently has a target price of $29.00 on shares of the real estate investment trust. Zacks Investment Research’s target price indicates upside potential of 13.90% from the company’s previous close.

According to Zacks, “WASHINGTON RE INV. TRUST is a self-managed qualified real estate investment trust. The Trust’s business consists of the ownership of income-generating real estate properties primarily in the Greater Washington-Baltimore area. The Trust has a fundamental strategy of regional focus, diversified ownership type and prudent financial management. “

Separately, StockNews.com began covering Washington Real Estate Investment Trust stocks in a Thursday, March 31 report. They set a “sell” rating for the company. One financial analyst gave the stock a sell rating, three gave the company a hold rating and two gave the company a buy rating. Based on data from MarketBeat, Washington Real Estate Investment Trust currently has a consensus rating of “Hold” and a consensus target price of $27.00.

WRE traded $0.21 on Wednesday during trading, hitting $25.46. 4,491 shares of the company have been traded, against an average volume of 582,966. The company has a current ratio of 6.14, a quick ratio of 6.14 and a debt ratio of 0.38. Washington Real Estate Investment Trust has a 12 month minimum of $22.23 and a 12 month maximum of $27.05. The firm’s fifty-day simple moving average is $24.60. The stock has a market capitalization of $2.23 billion, a P/E ratio of 134.00 and a beta of 0.87.

Hedge funds and other institutional investors have recently been buying and selling shares of the company. Comerica Bank increased its position in shares of Washington Real Estate Investment Trust by 96.9% during the 3rd quarter. Comerica Bank now owns 155,889 shares of the real estate investment trust worth $3,860,000 after acquiring an additional 76,722 shares in the last quarter. Schroder Investment Management Group increased its position in shares of Washington Real Estate Investment Trust by 5.4% during the third quarter. Schroder Investment Management Group now owns 1,628,789 shares of the real estate investment trust worth $40,313,000 after acquiring 82,967 additional shares in the last quarter. Morgan Stanley raised its position in Washington Real Estate Investment Trust by 2.8% in the third quarter. Morgan Stanley now owns 397,656 shares of the real estate investment trust worth $9,843,000 after buying an additional 10,779 shares in the last quarter. Econ Financial Services Corp bought a new stake in Washington Real Estate Investment Trust in the fourth quarter worth $481,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Washington Real Estate Investment Trust by 5.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,290 shares of the real estate investment trust worth $628,000 after buying an additional 1,206 shares in the last quarter. Hedge funds and other institutional investors hold 94.05% of the company’s shares.

Washington Real Estate Investment Trust Company Profile (Get an evaluation)

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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