Washington Real Estate Investment Trust (NYSE:WRE) Expected to Announce Quarterly Sales of $45.12 Million

Wall Street analysts expect Washington Real Estate Investment Trust (NYSE:WRE) to report sales of $45.12 million for the current quarter, Zacks reports. Four analysts have provided estimates for Washington Real Estate Investment Trust’s earnings, with the lowest sales estimate coming in at $42.52 million and the highest estimate coming in at $50.14 million. Washington Real Estate Investment Trust reported sales of $73.23 million in the same quarter last year, which indicates a negative year over year growth rate of 38.4%. The company is expected to report its next quarterly earnings report after the market closes on Thursday, October 28th.

On average, analysts expect that Washington Real Estate Investment Trust will report full-year sales of $196.34 million for the current year, with estimates ranging from $173.88 million to $208.39 million. For the next financial year, analysts expect that the business will post sales of $210.03 million, with estimates ranging from $198.17 million to $220.59 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Washington Real Estate Investment Trust.

Washington Real Estate Investment Trust (NYSE:WRE) last announced its earnings results on Thursday, July 29th. The real estate investment trust reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.17). Washington Real Estate Investment Trust had a negative net margin of 7.88% and a negative return on equity of 2.30%.

Several brokerages recently commented on WRE. Raymond James downgraded shares of Washington Real Estate Investment Trust from an “outperform” rating to a “market perform” rating in a report on Thursday, June 17th. Zacks Investment Research upgraded shares of Washington Real Estate Investment Trust from a “sell” rating to a “hold” rating in a report on Wednesday, September 15th.

A number of hedge funds have recently modified their holdings of WRE. Price T Rowe Associates Inc. MD grew its stake in Washington Real Estate Investment Trust by 628.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,634,631 shares of the real estate investment trust’s stock worth $83,597,000 after acquiring an additional 3,135,778 shares in the last quarter. FMR LLC grew its stake in Washington Real Estate Investment Trust by 26.1% in the 2nd quarter. FMR LLC now owns 7,013,645 shares of the real estate investment trust’s stock worth $161,314,000 after acquiring an additional 1,449,506 shares in the last quarter. Northwood Liquid Management LP bought a new position in Washington Real Estate Investment Trust in the 2nd quarter worth about $26,160,000. BlackRock Inc. grew its stake in Washington Real Estate Investment Trust by 7.3% in the 1st quarter. BlackRock Inc. now owns 15,846,697 shares of the real estate investment trust’s stock worth $350,212,000 after acquiring an additional 1,071,872 shares in the last quarter. Finally, Schroder Investment Management Group grew its stake in Washington Real Estate Investment Trust by 33.5% in the 1st quarter. Schroder Investment Management Group now owns 2,489,297 shares of the real estate investment trust’s stock worth $55,013,000 after acquiring an additional 625,052 shares in the last quarter. Institutional investors and hedge funds own 88.91% of the company’s stock.

Shares of NYSE WRE traded down $0.15 during mid-day trading on Friday, hitting $25.08. 400,680 shares of the company’s stock traded hands, compared to its average volume of 562,914. The company has a market capitalization of $2.12 billion, a P/E ratio of -104.50 and a beta of 0.92. Washington Real Estate Investment Trust has a 1 year low of $16.95 and a 1 year high of $27.05. The company’s 50-day moving average is $24.69 and its two-hundred day moving average is $23.97. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.40 and a quick ratio of 0.40.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 5th. Investors of record on Wednesday, September 22nd will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, September 21st. This represents a $0.68 annualized dividend and a yield of 2.71%. Washington Real Estate Investment Trust’s payout ratio is 46.90%.

Washington Real Estate Investment Trust Company Profile

Washington Real Estate Investment Trust engages in the ownership and operation of income-producing real estate properties. It operates through the following segments: Office and Multifamily. The Office segment provides office space for various types of businesses and professions. The Multifamily segment provides rental housing for individuals and families throughout Washington metro region.

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