$83.76 Million in Sales Expected for Washington Real Estate Investment Trust (WRE) This Quarter

Wall Street brokerages expect Washington Real Estate Investment Trust (NYSE:WRE) to report sales of $83.76 million for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Washington Real Estate Investment Trust’s earnings, with the lowest sales estimate coming in at $82.96 million and the highest estimate coming in at $85.04 million. Washington Real Estate Investment Trust posted sales of $81.30 million during the same quarter last year, which would indicate a positive year over year growth rate of 3%. The company is scheduled to announce its next quarterly earnings results on Thursday, February 21st.

On average, analysts expect that Washington Real Estate Investment Trust will report full-year sales of $337.78 million for the current fiscal year, with estimates ranging from $336.00 million to $340.96 million. For the next financial year, analysts anticipate that the firm will report sales of $342.21 million, with estimates ranging from $335.16 million to $348.87 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Washington Real Estate Investment Trust.

Washington Real Estate Investment Trust (NYSE:WRE) last issued its quarterly earnings data on Thursday, October 25th. The real estate investment trust reported $0.07 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.02). Washington Real Estate Investment Trust had a net margin of 6.64% and a return on equity of 2.05%. The business had revenue of $82.50 million during the quarter, compared to analyst estimates of $84.78 million.

WRE has been the topic of several research reports. JPMorgan Chase & Co. downgraded Washington Real Estate Investment Trust from an “overweight” rating to a “neutral” rating in a research report on Friday, October 5th. Stifel Nicolaus restated a “sell” rating and issued a $25.00 target price on shares of Washington Real Estate Investment Trust in a research report on Friday, July 27th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $29.67.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bellecapital International Ltd. purchased a new position in shares of Washington Real Estate Investment Trust in the second quarter valued at approximately $200,000. Woodstock Corp purchased a new position in shares of Washington Real Estate Investment Trust in the second quarter valued at approximately $207,000. Tocqueville Asset Management L.P. purchased a new position in shares of Washington Real Estate Investment Trust in the second quarter valued at approximately $219,000. Chicago Partners Investment Group LLC lifted its position in shares of Washington Real Estate Investment Trust by 44.0% in the second quarter. Chicago Partners Investment Group LLC now owns 7,382 shares of the real estate investment trust’s stock valued at $224,000 after acquiring an additional 2,257 shares in the last quarter. Finally, Sheets Smith Wealth Management purchased a new position in shares of Washington Real Estate Investment Trust in the second quarter valued at approximately $249,000. Institutional investors and hedge funds own 86.32% of the company’s stock.

WRE traded down $0.11 during trading on Monday, hitting $28.85. The company’s stock had a trading volume of 141,921 shares, compared to its average volume of 407,360. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.13. Washington Real Estate Investment Trust has a twelve month low of $24.92 and a twelve month high of $33.14. The firm has a market cap of $2.28 billion, a P/E ratio of 15.85 and a beta of 0.78.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 4th. Stockholders of record on Thursday, December 20th will be given a $0.30 dividend. The ex-dividend date is Wednesday, December 19th. This represents a $1.20 annualized dividend and a dividend yield of 4.16%. Washington Real Estate Investment Trust’s dividend payout ratio (DPR) is presently 65.93%.

About Washington Real Estate Investment Trust

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.

See Also: Diversification

Get a free copy of the Zacks research report on Washington Real Estate Investment Trust (WRE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Washington Real Estate Investment Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Washington Real Estate Investment Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply