Analysts Anticipate Washington Real Estate Investment Trust (WRE) Will Post Quarterly Sales of $84.86 Million

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Brokerages forecast that Washington Real Estate Investment Trust (NYSE:WRE) will report sales of $84.86 million for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Washington Real Estate Investment Trust’s earnings, with the highest sales estimate coming in at $86.93 million and the lowest estimate coming in at $83.75 million. Washington Real Estate Investment Trust reported sales of $82.82 million during the same quarter last year, which indicates a positive year-over-year growth rate of 2.5%. The business is scheduled to report its next earnings results on Thursday, October 25th.

According to Zacks, analysts expect that Washington Real Estate Investment Trust will report full year sales of $340.84 million for the current financial year, with estimates ranging from $336.00 million to $345.68 million. For the next year, analysts expect that the business will report sales of $347.06 million per share, with estimates ranging from $341.00 million to $351.21 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Washington Real Estate Investment Trust.

Washington Real Estate Investment Trust (NYSE:WRE) last released its earnings results on Thursday, July 26th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.10. Washington Real Estate Investment Trust had a net margin of 5.72% and a return on equity of 1.76%. The company had revenue of $86.61 million for the quarter, compared to the consensus estimate of $85.06 million. The company’s revenue was up 3.8% compared to the same quarter last year.

A number of research analysts recently issued reports on WRE shares. ValuEngine upgraded shares of Washington Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research report on Friday, June 29th. Stifel Nicolaus reiterated a “sell” rating and set a $25.00 target price on shares of Washington Real Estate Investment Trust in a research report on Friday, July 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Washington Real Estate Investment Trust has an average rating of “Hold” and an average target price of $31.20.

Washington Real Estate Investment Trust stock opened at $31.46 on Tuesday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.41 and a current ratio of 1.41. Washington Real Estate Investment Trust has a 12-month low of $24.92 and a 12-month high of $33.75. The firm has a market cap of $2.41 billion, a P/E ratio of 17.32 and a beta of 0.78.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $1.20 dividend on an annualized basis and a yield of 3.81%. Washington Real Estate Investment Trust’s dividend payout ratio (DPR) is presently 65.93%.

A number of hedge funds have recently made changes to their positions in the business. Forsta AP Fonden bought a new stake in Washington Real Estate Investment Trust during the 2nd quarter valued at $510,000. PEAK6 Investments L.P. increased its stake in Washington Real Estate Investment Trust by 12.8% during the 2nd quarter. PEAK6 Investments L.P. now owns 22,237 shares of the real estate investment trust’s stock valued at $674,000 after purchasing an additional 2,524 shares in the last quarter. Paloma Partners Management Co bought a new stake in Washington Real Estate Investment Trust during the 2nd quarter valued at $324,000. Tocqueville Asset Management L.P. bought a new stake in Washington Real Estate Investment Trust during the 2nd quarter valued at $219,000. Finally, Heitman Real Estate Securities LLC increased its stake in Washington Real Estate Investment Trust by 14.2% during the 2nd quarter. Heitman Real Estate Securities LLC now owns 776,999 shares of the real estate investment trust’s stock valued at $24,932,000 after purchasing an additional 96,323 shares in the last quarter. Institutional investors and hedge funds own 84.99% of the company’s stock.

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 48 properties consists of approximately 6.1 million square feet of commercial space and 4,268 multifamily apartment units. These 48 properties consist of 19 office properties, 16 retail centers and 13 multifamily properties.

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Earnings History and Estimates for Washington Real Estate Investment Trust (NYSE:WRE)

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