Washington Real Estate Investment Trust (NYSE:WRE) Expected to Post Earnings of $0.46 Per Share

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Equities analysts predict that Washington Real Estate Investment Trust (NYSE:WRE) will announce $0.46 earnings per share for the current quarter, Zacks reports. Six analysts have issued estimates for Washington Real Estate Investment Trust’s earnings, with estimates ranging from $0.43 to $0.48. Washington Real Estate Investment Trust posted earnings of $0.48 per share in the same quarter last year, which suggests a negative year over year growth rate of 4.2%. The company is scheduled to issue its next quarterly earnings results after the market closes on Thursday, July 25th.

On average, analysts expect that Washington Real Estate Investment Trust will report full year earnings of $1.78 per share for the current year, with EPS estimates ranging from $1.75 to $1.82. For the next financial year, analysts anticipate that the business will post earnings of $1.73 per share, with EPS estimates ranging from $1.68 to $1.77. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Washington Real Estate Investment Trust.

Washington Real Estate Investment Trust (NYSE:WRE) last announced its earnings results on Wednesday, April 24th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.44. The business had revenue of $83.20 million for the quarter, compared to analysts’ expectations of $82.12 million. Washington Real Estate Investment Trust had a return on equity of 1.68% and a net margin of 5.35%. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.46 EPS.

Several brokerages have recently commented on WRE. Zacks Investment Research upgraded Washington Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Friday, March 8th. Robert W. Baird lowered Washington Real Estate Investment Trust from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $30.00 to $28.00 in a report on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $28.80.

Several institutional investors and hedge funds have recently modified their holdings of WRE. BlackRock Inc. lifted its holdings in shares of Washington Real Estate Investment Trust by 36.7% during the 1st quarter. BlackRock Inc. now owns 11,341,017 shares of the real estate investment trust’s stock valued at $321,856,000 after purchasing an additional 3,046,215 shares during the last quarter. Norges Bank purchased a new stake in shares of Washington Real Estate Investment Trust during the 4th quarter valued at $22,822,000. Victory Capital Management Inc. lifted its holdings in shares of Washington Real Estate Investment Trust by 13.0% during the 1st quarter. Victory Capital Management Inc. now owns 3,383,580 shares of the real estate investment trust’s stock valued at $96,026,000 after purchasing an additional 388,625 shares during the last quarter. FMR LLC lifted its holdings in shares of Washington Real Estate Investment Trust by 5.5% during the 1st quarter. FMR LLC now owns 4,552,831 shares of the real estate investment trust’s stock valued at $129,208,000 after purchasing an additional 239,296 shares during the last quarter. Finally, Pennsylvania Trust Co purchased a new stake in shares of Washington Real Estate Investment Trust during the 1st quarter valued at $35,862,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Shares of WRE opened at $27.26 on Thursday. Washington Real Estate Investment Trust has a 12 month low of $22.53 and a 12 month high of $31.85. The firm’s fifty day simple moving average is $27.31. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 15.58 and a beta of 0.94.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.20 annualized dividend and a dividend yield of 4.40%. Washington Real Estate Investment Trust’s dividend payout ratio is presently 64.52%.

Washington Real Estate Investment Trust Company Profile

Washington REIT owns and operates uniquely positioned real estate assets in the Washington DC market. Backed by decades of experience, expertise and ambition, we create value by transforming insights into strategy and strategy into action. Our portfolio of 48 properties includes approximately 6.1 million square feet of commercial space and 4,268 multifamily apartment units.

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

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