Wells Fargo & Company decreased their target price on Washington Real Estate Investment Trust (NYSE:WRE) to $21.00


Washington Real Estate Investment Trust (NYSE:WRE – Get Rating) stock analysts at Wells Fargo & Company cut their price objective from $26.00 to $21.00 in a report issued on Friday, MarketBeat.com reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company’s price target suggests a potential downside of 2.69% from the company’s previous close.

Several other research firms have also weighed in on WRE. JPMorgan Chase & Co. decreased their target price on Washington Real Estate Investment Trust from $26.00 to $24.00 in a research report on Tuesday, June 14th. StockNews.com initiated coverage on Washington Real Estate Investment Trust in a research report on Thursday, March 31st. They assign a sell rating to the stock.

Shares of Washington Real Estate Investment Trust stock opened at $21.58 on Friday. The business has a fifty day simple moving average of $23.26 and a 200 day simple moving average of $24.30. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 179.83 and a beta of 0.85. The company has a quick ratio of 4.72, a current ratio of 4.72 and a debt-to-equity ratio of 0.38. Washington Real Estate Investment Trust has a fifty-two week low of $21.11 and a fifty-two week high of $26.79.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd bought a new stake in shares of Washington Real Estate Investment Trust in the first quarter worth about $378,000. First Manhattan Co. boosted its stake in Washington Real Estate Investment Trust by 435.1% during the first quarter. First Manhattan Co. now owns 1,402 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 1,140 shares during the period. Guggenheim Capital LLC boosted its stake in Washington Real Estate Investment Trust by 41.7% in the first quarter. Guggenheim Capital LLC now owns 12,272 shares of the real estate investment trust’s stock valued at $313,000 after buying an additional 3,611 shares during the period. Highland Capital Management Fund Advisors LP purchased a new stake in Washington Real Estate Investment Trust during the first quarter valued at approximately $9,968,000. Finally, State Street Corp boosted its stake in Washington Real Estate Investment Trust by 13.5% in the first quarter. State Street Corp now owns 5,257,101 shares of the real estate investment trust’s stock valued at $134,931,000 after buying an additional 626,534 shares during the period. Institutional investors own 90.75% of the company’s shares.

Washington Real Estate Investment Trust Company Profile (Get Rating)

WashREIT owns and manages uniquely positioned real estate in the Washington metro area. Backed by decades of experience, expertise and ambition, we create value by turning insights into strategy and strategy into action. As of October 29, 2020, the Company’s portfolio of 45 properties includes approximately 3.7 million square feet of commercial space and 6,863 multifamily apartments.

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