Washington Real Estate Investment Trust (NYSE:WRE) Expected to Announce Earnings of $0.41 Per Share

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Brokerages forecast that Washington Real Estate Investment Trust (NYSE:WRE) will report $0.41 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Washington Real Estate Investment Trust’s earnings, with the lowest EPS estimate coming in at $0.40 and the highest estimate coming in at $0.43. Washington Real Estate Investment Trust reported earnings of $0.45 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 8.9%. The business is expected to issue its next earnings report on Thursday, October 24th.

On average, analysts expect that Washington Real Estate Investment Trust will report full year earnings of $1.72 per share for the current fiscal year, with EPS estimates ranging from $1.69 to $1.74. For the next year, analysts expect that the company will post earnings of $1.60 per share, with EPS estimates ranging from $1.57 to $1.68. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Washington Real Estate Investment Trust.

Washington Real Estate Investment Trust (NYSE:WRE) last posted its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.44). The business had revenue of $76.82 million during the quarter, compared to analysts’ expectations of $85.76 million. Washington Real Estate Investment Trust had a net margin of 2.51% and a return on equity of 0.78%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.48 earnings per share.

Separately, Zacks Investment Research raised Washington Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Washington Real Estate Investment Trust presently has a consensus rating of “Hold” and a consensus price target of $28.80.

WRE stock traded up $0.02 during midday trading on Thursday, hitting $27.54. 283,200 shares of the stock were exchanged, compared to its average volume of 605,604. Washington Real Estate Investment Trust has a fifty-two week low of $22.53 and a fifty-two week high of $30.97. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 16.24 and a beta of 0.93. The stock’s 50-day moving average price is $26.64 and its 200-day moving average price is $27.41. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.17 and a current ratio of 1.17.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date is Friday, September 13th. Washington Real Estate Investment Trust’s payout ratio is 64.52%.

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in Washington Real Estate Investment Trust by 23.0% during the 2nd quarter. BlackRock Inc. now owns 13,946,660 shares of the real estate investment trust’s stock valued at $372,795,000 after purchasing an additional 2,605,643 shares in the last quarter. FMR LLC boosted its stake in 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 in the last quarter. Renaissance Technologies LLC boosted its stake in Washington Real Estate Investment Trust by 26.1% during the 2nd quarter. Renaissance Technologies LLC now owns 3,699,500 shares of the real estate investment trust’s stock valued at $98,888,000 after purchasing an additional 764,600 shares in the last quarter. Northern Trust Corp boosted its stake in Washington Real Estate Investment Trust by 2.7% during the 2nd quarter. Northern Trust Corp now owns 1,904,305 shares of the real estate investment trust’s stock valued at $50,902,000 after purchasing an additional 49,858 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in Washington Real Estate Investment Trust by 11.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,824,192 shares of the real estate investment trust’s stock valued at $48,761,000 after purchasing an additional 183,595 shares in the last quarter. 89.42% of the stock is owned by institutional investors and hedge funds.

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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