Zacks: Brokerages Expect Washington Real Estate Investment Trust (NYSE:WRE) to Post $0.38 Earnings Per Share

Wall Street analysts expect Washington Real Estate Investment Trust (NYSE:WRE) to post $0.38 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Washington Real Estate Investment Trust’s earnings, with the lowest EPS estimate coming in at $0.35 and the highest estimate coming in at $0.39. Washington Real Estate Investment Trust reported earnings per share of $0.47 during the same quarter last year, which suggests a negative year over year growth rate of 19.1%. The firm is scheduled to report its next earnings report after the market closes on Tuesday, July 28th.

According to Zacks, analysts expect that Washington Real Estate Investment Trust will report full-year earnings of $1.51 per share for the current fiscal year, with EPS estimates ranging from $1.47 to $1.57. For the next financial year, analysts anticipate that the business will post earnings of $1.52 per share, with EPS estimates ranging from $1.40 to $1.59. Zacks’ earnings per share averages 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 results on Wednesday, April 22nd. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.36). The company had revenue of $76.79 million for the quarter, compared to analyst estimates of $76.95 million. Washington Real Estate Investment Trust had a return on equity of 3.80% and a net margin of 123.89%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 EPS.

WRE has been the subject of a number of analyst reports. Zacks Investment Research raised Washington Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research note on Saturday. Stifel Nicolaus dropped their target price on shares of Washington Real Estate Investment Trust from $30.00 to $24.00 and set a “hold” rating for the company in a research report on Friday, April 3rd.

A number of hedge funds and other institutional investors have recently modified their holdings of WRE. State Street Corp boosted its position in Washington Real Estate Investment Trust by 7.7% in the first quarter. State Street Corp now owns 4,438,054 shares of the real estate investment trust’s stock valued at $105,936,000 after buying an additional 318,342 shares in the last quarter. FMR LLC lifted its stake in shares of Washington Real Estate Investment Trust by 9.1% in the 4th quarter. FMR LLC now owns 3,192,837 shares of the real estate investment trust’s stock valued at $93,167,000 after acquiring an additional 266,867 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Washington Real Estate Investment Trust by 3.6% during the 1st quarter. Wells Fargo & Company MN now owns 1,846,463 shares of the real estate investment trust’s stock valued at $44,075,000 after acquiring an additional 64,059 shares in the last quarter. Nuveen Asset Management LLC grew its position in Washington Real Estate Investment Trust by 4.3% during the 1st quarter. Nuveen Asset Management LLC now owns 1,596,759 shares of the real estate investment trust’s stock worth $38,114,000 after acquiring an additional 66,175 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Washington Real Estate Investment Trust by 6.4% in the 1st quarter. Geode Capital Management LLC now owns 1,470,932 shares of the real estate investment trust’s stock worth $35,111,000 after purchasing an additional 87,848 shares in the last quarter. 87.94% of the stock is owned by hedge funds and other institutional investors.

Shares of WRE traded down $0.13 during trading hours on Friday, hitting $21.79. 662,285 shares of the company were exchanged, compared to its average volume of 503,223. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.84. Washington Real Estate Investment Trust has a fifty-two week low of $18.01 and a fifty-two week high of $32.22. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 4.50 and a beta of 0.78. The firm’s fifty day moving average is $21.93 and its 200 day moving average is $25.98.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 22nd will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, June 19th. This represents a $1.20 annualized dividend and a dividend yield of 5.51%. Washington Real Estate Investment Trust’s payout ratio is 72.29%.

Washington Real Estate Investment Trust Company Profile

Washington REIT owns and operates uniquely positioned real estate assets in the Washington DC market. Backed by decades of experience, expertise and ambition, we create value by transforming insights into strategy and strategy into action. Our portfolio of 48 properties includes approximately 6.1 million square feet of commercial space and 4,268 multifamily apartment units.

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

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