Washington Real Estate Investment Trust (NYSE:WRE) Price Target Cut to $24.00 by Analysts at JPMorgan Chase & Co.
Washington Real Estate Investment Trust (NYSE:WRE – Get Rating) had its price objective lowered by analysts at JPMorgan Chase & Co. from $26.00 to $24.00 in a note issued to investors on Tuesday, The Fly reports. JPMorgan Chase & Co.‘s target price points to a potential upside of 8.16% from the company’s current price.
Separately, StockNews.com initiated coverage on Washington Real Estate Investment Trust in a research report on Thursday, March 31st. They set a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Washington Real Estate Investment Trust has an average rating of “Hold” and a consensus target price of $25.75.
Shares of WRE traded down $0.75 during trading hours on Tuesday, hitting $22.19. The company had a trading volume of 17,245 shares, compared to its average volume of 473,021. The firm has a market cap of $1.94 billion, a P/E ratio of 184.92 and a beta of 0.85. The stock’s 50 day moving average price is $24.27 and its 200 day moving average price is $24.68. 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 52-week low of $22.23 and a 52-week high of $26.92.
A number of large investors have recently added to or reduced their stakes in WRE. Allspring Global Investments Holdings LLC bought a new position in Washington Real Estate Investment Trust in the 4th quarter valued at $47,217,000. Norges Bank purchased a new stake in shares of Washington Real Estate Investment Trust in the 4th quarter worth $19,614,000. State Street Corp lifted its stake in shares of Washington Real Estate Investment Trust by 13.5% during the 1st quarter. State Street Corp now owns 5,257,101 shares of the real estate investment trust’s stock worth $134,931,000 after purchasing an additional 626,534 shares during the last quarter. BlackRock Inc. grew its position in shares of Washington Real Estate Investment Trust by 3.3% in the 4th quarter. BlackRock Inc. now owns 15,984,446 shares of the real estate investment trust’s stock worth $413,198,000 after buying an additional 503,512 shares during the last quarter. Finally, First Pacific Advisors LP purchased a new position in shares of Washington Real Estate Investment Trust in the 1st quarter worth approximately $12,714,000. 90.75% of the stock is currently owned by institutional investors and hedge funds.
Washington Real Estate Investment Trust Company Profile (Get Rating)
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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