Short Interest in Washington Real Estate Investment Trust (NYSE:WRE) Rises By 13.4%

Washington Real Estate Investment Trust (NYSE:WRE) was the target of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 3,890,000 shares, an increase of 13.4% from the September 30th total of 3,430,000 shares. Based on an average daily volume of 311,500 shares, the days-to-cover ratio is presently 12.5 days. Currently, 4.9% of the company’s stock are short sold.

Several research firms recently issued reports on WRE. Zacks Investment Research raised shares of Washington Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research report on Sunday, November 3rd. Raymond James lifted their price target on shares of Washington Real Estate Investment Trust from $30.00 to $32.50 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $29.13.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. bought a new stake in Washington Real Estate Investment Trust in the 2nd quarter valued at about $35,000. Tower Research Capital LLC TRC bought a new stake in shares of Washington Real Estate Investment Trust during the second quarter valued at about $38,000. North Star Investment Management Corp. bought a new stake in shares of Washington Real Estate Investment Trust during the third quarter valued at about $53,000. Advisory Services Network LLC increased its position in shares of Washington Real Estate Investment Trust by 654.5% during the second quarter. Advisory Services Network LLC now owns 3,184 shares of the real estate investment trust’s stock valued at $85,000 after buying an additional 2,762 shares during the period. Finally, Steward Partners Investment Advisory LLC bought a new stake in shares of Washington Real Estate Investment Trust during the second quarter valued at about $85,000. Institutional investors own 89.19% of the company’s stock.

WRE traded up $0.10 during mid-day trading on Friday, reaching $30.45. 581,456 shares of the stock were exchanged, compared to its average volume of 340,644. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $2.45 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 17.68 and a beta of 0.91. The company has a 50 day moving average price of $29.22 and a two-hundred day moving average price of $27.67. Washington Real Estate Investment Trust has a 1 year low of $22.53 and a 1 year high of $31.41.

Washington Real Estate Investment Trust (NYSE:WRE) last posted its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.49). The firm had revenue of $80.26 million for the quarter, compared to analysts’ expectations of $78.81 million. Washington Real Estate Investment Trust had a negative return on equity of 0.55% and a net margin of 103.68%. Washington Real Estate Investment Trust’s revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 earnings per share. Sell-side analysts expect that Washington Real Estate Investment Trust will post 1.72 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Monday, December 23rd will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date is Friday, December 20th. Washington Real Estate Investment Trust’s payout ratio is 64.52%.

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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