Washington Real Estate Investment Trust (WRE) Short Interest Update

Washington Real Estate Investment Trust (NYSE:WRE) was the recipient of a significant drop in short interest in the month of March. As of March 29th, there was short interest totalling 2,264,330 shares, a drop of 50.7% from the March 15th total of 4,590,714 shares. Currently, 2.9% of the shares of the company are short sold. Based on an average daily trading volume, of 771,735 shares, the days-to-cover ratio is presently 2.9 days.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Washington Real Estate Investment Trust by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 11,420,116 shares of the real estate investment trust’s stock valued at $350,027,000 after purchasing an additional 54,033 shares during the period. Vanguard Group Inc raised its stake in Washington Real Estate Investment Trust by 0.5% during the 3rd quarter. Vanguard Group Inc now owns 11,420,116 shares of the real estate investment trust’s stock valued at $350,027,000 after purchasing an additional 54,033 shares during the period. BlackRock Inc. raised its stake in Washington Real Estate Investment Trust by 4.3% during the 4th quarter. BlackRock Inc. now owns 8,294,802 shares of the real estate investment trust’s stock valued at $190,781,000 after purchasing an additional 342,603 shares during the period. FMR LLC raised its stake in Washington Real Estate Investment Trust by 1.5% during the 4th quarter. FMR LLC now owns 4,313,535 shares of the real estate investment trust’s stock valued at $99,212,000 after purchasing an additional 61,883 shares during the period. Finally, Thornburg Investment Management Inc. raised its stake in Washington Real Estate Investment Trust by 5.6% during the 4th quarter. Thornburg Investment Management Inc. now owns 3,141,427 shares of the real estate investment trust’s stock valued at $72,253,000 after purchasing an additional 166,000 shares during the period. 86.71% of the stock is currently owned by institutional investors.

Several research analysts have recently commented on WRE shares. Zacks Investment Research raised Washington Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Friday, March 8th. Wells Fargo & Co decreased their price objective on Washington Real Estate Investment Trust from $32.00 to $26.00 and set a “positive” rating on the stock in a research note on Wednesday, January 16th. Finally, JPMorgan Chase & Co. downgraded Washington Real Estate Investment Trust from a “neutral” rating to an “underweight” rating in a research note on Wednesday, December 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $29.00.

NYSE WRE opened at $27.98 on Wednesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.37 and a current ratio of 1.37. Washington Real Estate Investment Trust has a 52 week low of $22.53 and a 52 week high of $31.85. The stock has a market capitalization of $2.31 billion, a PE ratio of 15.04, a P/E/G ratio of 16.42 and a beta of 0.98.

Washington Real Estate Investment Trust (NYSE:WRE) last posted its quarterly earnings data on Thursday, February 14th. The real estate investment trust reported $0.46 EPS for the quarter, hitting the consensus estimate of $0.46. The firm had revenue of $82.90 million for the quarter, compared to the consensus estimate of $83.63 million. Washington Real Estate Investment Trust had a return on equity of 2.38% and a net margin of 7.61%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.45 earnings per share. On average, equities analysts predict that Washington Real Estate Investment Trust will post 1.76 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 4.29%. The ex-dividend date was Thursday, March 14th. Washington Real Estate Investment Trust’s dividend payout ratio (DPR) is presently 64.52%.

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About Washington Real Estate Investment Trust

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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