Washington Real Estate Investment Trust (NYSE:WRE) Price Target Cut to $21.00

Washington Real Estate Investment Trust (NYSE:WRE – Get Rating) had its target price reduced by stock analysts at Wells Fargo & Company from $26.00 to $21.00 in a report issued on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company’s target price would suggest a potential downside of 1.45% from the company’s previous close.

WRE has been the subject of a number of other research reports. StockNews.com assumed coverage on Washington Real Estate Investment Trust in a report on Thursday, March 31st. They issued a “sell” rating for the company. JPMorgan Chase & Co. lowered their price target on Washington Real Estate Investment Trust from $26.00 to $24.00 in a report on Tuesday, June 14th.

Shares of NYSE WRE opened at $21.31 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.72 and a current ratio of 4.72. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 177.58 and a beta of 0.85. The stock has a 50 day moving average price of $23.33 and a 200 day moving average price of $24.34. Washington Real Estate Investment Trust has a 52-week low of $21.13 and a 52-week high of $26.79.

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Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Washington Real Estate Investment Trust by 3.2% during the first quarter. Vanguard Group Inc. now owns 13,973,815 shares of the real estate investment trust’s stock worth $356,332,000 after purchasing an additional 427,868 shares in the last quarter. State Street Corp increased its position in shares of Washington Real Estate Investment Trust by 13.5% in the 1st quarter. State Street Corp now owns 5,257,101 shares of the real estate investment trust’s stock valued at $134,931,000 after acquiring an additional 626,534 shares during the period. Schroder Investment Management Group increased its position in shares of Washington Real Estate Investment Trust by 12.5% ​​in the 4th quarter. Schroder Investment Management Group now owns 1,832,975 shares of the real estate investment trust’s stock valued at $47,382,000 after acquiring an additional 204,186 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Washington Real Estate Investment Trust in the 4th quarter valued at $47,217,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Washington Real Estate Investment Trust by 3.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,275,859 shares of the real estate investment trust’s stock valued at $32,535,000 after acquiring an additional 45,278 shares during the period. Institutional investors own 90.75% of the company’s stock.

About Washington Real Estate Investment Trust (GetRated)

WashREIT owns and operates uniquely positioned real estate assets in the Washington Metro area. Backed by decades of experience, expertise and ambition, we create value by transforming 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 apartment units.

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