Washington Real Estate Investment Trust (WRE) Expected to Announce Quarterly Sales of $85.41 Million

Analysts expect that Washington Real Estate Investment Trust (NYSE:WRE) will report $85.41 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Washington Real Estate Investment Trust’s earnings, with the highest sales estimate coming in at $86.60 million and the lowest estimate coming in at $84.65 million. Washington Real Estate Investment Trust reported sales of $83.46 million in the same quarter last year, which indicates a positive year over year growth rate of 2.3%. The company is scheduled to announce its next earnings report after the market closes on Thursday, July 26th.

On average, analysts expect that Washington Real Estate Investment Trust will report full-year sales of $339.87 million for the current financial year, with estimates ranging from $337.50 million to $342.98 million. For the next year, analysts expect that the firm will post sales of $345.58 million per share, with estimates ranging from $340.91 million to $348.88 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Washington Real Estate Investment Trust.

Washington Real Estate Investment Trust (NYSE:WRE) last issued its quarterly earnings results on Wednesday, April 25th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.01). Washington Real Estate Investment Trust had a net margin of 4.91% and a return on equity of 1.49%. The business had revenue of $84.88 million during the quarter, compared to analyst estimates of $83.15 million. During the same period in the previous year, the company posted $0.44 earnings per share. Washington Real Estate Investment Trust’s revenue was up 9.5% compared to the same quarter last year.

A number of equities research analysts have weighed in on the stock. ValuEngine raised shares of Washington Real Estate Investment Trust from a “sell” rating to a “hold” rating in a report on Friday, June 29th. JPMorgan Chase & Co. cut their price target on shares of Washington Real Estate Investment Trust from $34.00 to $32.00 and set an “overweight” rating for the company in a report on Tuesday, April 10th. Finally, SunTrust Banks reissued a “hold” rating and issued a $28.00 price target on shares of Washington Real Estate Investment Trust in a report on Wednesday, March 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Washington Real Estate Investment Trust presently has a consensus rating of “Hold” and a consensus price target of $31.40.

Hedge funds have recently bought and sold shares of the business. Koch Industries Inc. purchased a new stake in Washington Real Estate Investment Trust during the fourth quarter valued at about $204,000. Vident Investment Advisory LLC purchased a new stake in Washington Real Estate Investment Trust during the fourth quarter valued at about $214,000. Parametrica Management Ltd purchased a new stake in Washington Real Estate Investment Trust during the first quarter valued at about $289,000. Wolverine Asset Management LLC purchased a new stake in Washington Real Estate Investment Trust during the fourth quarter valued at about $355,000. Finally, SG Americas Securities LLC lifted its stake in Washington Real Estate Investment Trust by 20.6% during the first quarter. SG Americas Securities LLC now owns 13,261 shares of the real estate investment trust’s stock valued at $362,000 after buying an additional 2,264 shares in the last quarter. 84.42% of the stock is owned by institutional investors.

Washington Real Estate Investment Trust traded up $0.49, reaching $30.84, on Friday, according to Marketbeat Ratings. The company’s stock had a trading volume of 352,700 shares, compared to its average volume of 442,033. Washington Real Estate Investment Trust has a twelve month low of $24.92 and a twelve month high of $33.96. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 16.70 and a beta of 0.76.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 29th. Shareholders of record on Friday, June 15th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date was Thursday, June 14th. Washington Real Estate Investment Trust’s dividend payout ratio is presently 65.93%.

About Washington Real Estate Investment Trust

Washington REIT owns and operates uniquely positioned real estate assets in the Washington DC market. The Company's portfolio of 49 properties consists of approximately 6.4 million square feet of commercial space and 4,268 multifamily apartment units. These 49 properties consist of 20 office properties, 16 retail centers and 13 multifamily properties.

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

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